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Post by rugbytoffee on Jun 7, 2024 13:50:08 GMT
Merseyside businessman Andy Bell has set up a new company called Toffee Ventures as Everton takeover talks with Farhad Moshiri continue, according to The Athletic.
Matt Slater’s article [7 June] suggests that Bell – who alongside fellow local businessman George Downing is pushing to acquire Farhad Moshiri’s controlling stake in the club – has recently sold £28m worth of shares in his successful investment platform, AJ Bell.
Funding from Toffee Ventures could further help supply Everton if a deal is agreed, with the club’s debt of £225m set to fall towards Cheshire-based lender Rights & Media Funding (RMF) which is tied up in assets, helped by historical transfer instalments owed to the club and future player sales.
Everton are also indebted £200m to seemingly failed projected new owners 777 Partners, and the £158m subsidiary of Bramley-Moore Dock Stadium is owed to American firm MSP Sports Capital – who are set to rival Bell and Downing to snap up Moshiri’s 94.1%.
New group set to enter Everton bidding
The news comes as part of Friday morning’s report which claims a new investment group are said to be entering the race to buy Everton, with Moshiri set to decide on his preferred party.
The consortiums already on the table could be set for exclusive talks with the Blues owner, who is owed £450m in unsecured shareholder loans.
Moshiri publicly favoured a deal with 777 Partners and had given the US firm every chance at completing a deal having bankrolled the club throughout the 2023-24 campaign, whilst blocked by the Premier League from completing the takeover.
Then, 777 – plagued by legal controversy – failed to meet an exclusivity deadline of 31 May, leaving the field open for competitors.
John Textor – part-owner of Crystal Palace – was also prevented by the league from proceeding with an Everton takeover deal until his 45% share in the Eagles was moved on, making the Lyon owner an unlikely candidate at this stage.
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Post by Avinalaff on Jun 7, 2024 15:04:41 GMT
How do we get rid of the debt?
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Post by rugbytoffee on Jun 7, 2024 15:24:24 GMT
How do we get rid of the debt? Either the new "owners" clear it or it is restructured over a longer period with reduced interest charges i guess  |
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Post by rugbytoffee on Jun 7, 2024 15:40:16 GMT
Toffee Ventures, a new company owned by Andy Bell, has been registered as Companies House amid links to a takeover bid for Everton.
Self-appointed on 14 May, Bell is the sole director of the firm – a nod to the club’s nickname – and has recently sold £28m worth of shares in his investment firm set up in 1995, AJ Bell [The Athletic, 7 June].
The capital could boost the bid of Everton creditors Bell and George Downing, both British businessmen and Toffees supporters, to acquire Farhad Moshiri’s controlling stake in the club.
Among investors are American investment firm MSP Sports Capital – owed £158m by Everton to secure the Bramley-Moore Dock Stadium development.
Toffee Ventures could become part of Everton ownership
The takeover saga currently leaving Everton in disarray is being sought for rescue by Bell and Downing, with Bell making efficient strategic moves to try and present an attractive bid to Moshiri.
Toffee Ventures as a company is being injected with cash, funded by Bell’s sale of millions of pounds’ worth of shares in his own businesses.
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Post by Avinalaff on Jun 7, 2024 15:40:44 GMT
How do we get rid of the debt? Either the new "owners" clear it or it is restructured over a longer period with reduced interest charges i guess The cost of a new stadium. |
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