A US consortium that has yet to declare its hand publicly is rivalling prospective buyers in a bid to acquire Everton owner Farhad Moshiri’s majority stake.
i understands Moshiri wants to begin a new takeover process “as soon as possible” and has held talks with a number of groups since the expiration of the sales purchase agreement with 777 Partners, whose long-running interest in the club formally ended a week ago.
Businessmen Andy Bell and George Downing, MSP Sports Capital and other groups are also interested.
The next step is to enter into an exclusivity agreement with one of the parties and while that could happen soon, i understands no announcement is expected from Everton this weekend.
Both Bell and Downing and MSP Sports Capital – who are also an American group – are club creditors, having financed a £158m loan which was being used to finance the building of the new stadium at Bramley-Moore Dock.
In a move that suggests talks are at an advanced stage with Bell and Downing, who are both Everton supporters, a new shell company named Toffee Ventures Ltd has been registered at Companies House with Bell listed as a company director.
That company could be used to transfer Moshiri’s shareholding if a deal is struck. The Financial Times report that BDT & MSD Partners, the merchant bank, would provide part of the financing for their takeover.
But there is understood to be plenty of other interest, with i informed that the new US consortium – that has not yet been named – have been in discussions with Moshiri.
MSP Sports Capital – who agreed a deal with Moshiri for a minority stake in the club last year, only for fellow creditors to veto the terms – are also back around the table.
A-Cap, an American firm that was providing finance to 777 Partners in their doomed bid, has also made a proposal to Everton to refinance their debt and take a stake in the club but i understands that is unlikely to succeed.
Moshiri’s desire to move quickly represents both a desire from the owner for a new start and also a reflection of the urgency around Everton’s financial predicament.
While club sources have again re-iterated to i there is no prospect of administration, they have a heavy debt burden and have been reliant on loans from 777 Partners to pay running costs and stadium bills. Moshiri is either unwilling or unable to keep writing those cheques, meaning the club needs to gain access to alternative sources of finance.
But there is much more optimism around the future now from inside the club, with the number of investors vying to enter exclusivity seen as proof that a corner can be turned.
Everton face the prospect of selling players this summer to comply with Profit and Sustainability Rules (PSR) but i understands there is no prospect of a so-called “fire sale” and they ideally want to hold on to defender Jarrad Branthwaite.
However, midfielder Amadou Onana, who has interest from Arsenal, Manchester United and Newcastle may be sold.
from Football - inews.co.uk https://ift.tt/0cqz2vJ
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