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777 Partners / Whatever the hell you like

Revised Polling options on who wants a 777 takeover

  • Total voters
    676
  • Poll closed .
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Advantage Capital Holdings LLC linked with a move today, some of the same people from 777 are involved in this group as well, not exactly a takeover, more a refinancing and investment. Might make future purchase more straightforward if other lenders are gone. Like consolidating all your debt into one easy monthly payment... :D ;

dvantage Capital Holdings LLC has made a proposal to invest in Everton FC, people familiar with the matter said, adding another unexpected twist to the takeover saga surrounding the English Premier League football club.

New York-based A-Cap and a partner firm have submitted a plan that would see them refinance all of Everton’s existing debt and then take a non-controlling equity stake in the club, according to the people, who asked not to be identified discussing confidential information.

A-Cap is a major lender to 777 Partners LLC, the US investment firm that’s just failed with its own bid to buy the historic club.

777 Partners agreed to acquire Everton last year but was unable to finalize a deal. That left the club and its owner, the businessman Farhad Moshiri, searching for a new buyer. Everton’s sizeable debt includes a $200 million loan from 777 Partners.

Deliberations are ongoing and there’s no certainty they’ll result in a deal, the people said. A representative for A-Cap and a spokesperson for Moshiri declined to comment.

A-Cap recently hired investment bank Moelis & Co. to review 777’s portfolio of football teams — a move that raised fresh questions about the Everton deal before its ultimate collapse.

Under new terms proposed by A-Cap, Moshiri would retain majority control of Everton, while seeing his 94% equity stake reduced, the people said. A-Cap and its partner would become the club’s co-owners, they said. The identity of A-Cap’s partner couldn’t immediately be learned.

777 Partners’ pursuit of Everton was dogged by financing problems and scrutiny of the investment firm’s management of its sprawling collection of businesses, some of which have run into difficulties with creditors. Australian budget airline Bonza, owned by 777 Partners, recently grounded all flights amid talks over the company’s future. 777 Partners had previously laid out ambitious plans to build a global airline portfolio.

Everton was among the founding members of the English Football League in the 1880s and is one of just a handful of teams that’s never been relegated from the Premier League. But it’s narrowly avoided dropping out of the top division in recent seasons despite heavy investment from Moshiri. The club has also taken on massive debts to build a state-of-the-art stadium in the Bramley-Moore Dock area of Liverpool in the northwest of England.

Another investor considering an offer for Everton is John Textor, the chairman of Eagle Football, an investment vehicle that holds an interest in Premier League club Crystal Palace FC. Textor has put his stake in Crystal Palace up for sale and has approached Moshiri about potentially submitting a bid for Everton, the person said.

A representative for Eagle Football declined to comment. Everton said in a statement in the wake of 777 Partners’ acquisition failing that it would continue to “assess all options for the club’s future ownership.”

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©2024 Bloomberg L.P.


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PeregrineT said:
Oh, where ARE they going to make their private interest publicly known before they complete the offer?

Seems to be conveniently ignoring the real question...
Click to expand...

12 weeks tomorrow until the transfer window shuts.

Don't you think if someone was waiting in the wings, they would look at making their intentions known, knowing that we are on such a limited timeline to get a takeover done and transfer activity done? Or do you think they'll be happy for the only board member Colin Chong to sanction the sale of Onana and Branthwaite by the 30th for whatever cost they can get to keep the lights on?

Bloomberg have just posted an article saying A Cap are interested in refinancing the clubs debt. I bet they are considering they borrowed 200m to 777.
 

Tony’s Carp said:
Would be better to swerve the ACap / 777 world entirely but that smells like a deal Moshiri might like.
Click to expand...
That Josimar article from a few days ago
mentioned A-Cap had been meeting with Everton.
I suppose it’s basically their money that 777 lent to us so it’s no surprise they have come calling.
As unpalatable as their involvement would be it would remove a portion of the existing debt.
 
BluePaul86 said:
He'll tweet about taking another break now. Get a load of sympathy from his sheep.

Then log back on 5 mins later.
Click to expand...

He blocked me because I asked why he just copied and pasted word for word the same tweet from the club an hour later instead of just retweeting it.

And yes, people replied saying thanks for the news as if he was the sole source.
 
OneTrueLegend said:
Advantage Capital Holdings LLC linked with a move today, some of the same people from 777 are involved in this group as well, not exactly a takeover, more a refinancing and investment. Might make future purchase more straightforward if other lenders are gone. Like consolidating all your debt into one easy monthly payment... :D ;

dvantage Capital Holdings LLC has made a proposal to invest in Everton FC, people familiar with the matter said, adding another unexpected twist to the takeover saga surrounding the English Premier League football club.

New York-based A-Cap and a partner firm have submitted a plan that would see them refinance all of Everton’s existing debt and then take a non-controlling equity stake in the club, according to the people, who asked not to be identified discussing confidential information.

A-Cap is a major lender to 777 Partners LLC, the US investment firm that’s just failed with its own bid to buy the historic club.

777 Partners agreed to acquire Everton last year but was unable to finalize a deal. That left the club and its owner, the businessman Farhad Moshiri, searching for a new buyer. Everton’s sizeable debt includes a $200 million loan from 777 Partners.

Deliberations are ongoing and there’s no certainty they’ll result in a deal, the people said. A representative for A-Cap and a spokesperson for Moshiri declined to comment.

A-Cap recently hired investment bank Moelis & Co. to review 777’s portfolio of football teams — a move that raised fresh questions about the Everton deal before its ultimate collapse.

Under new terms proposed by A-Cap, Moshiri would retain majority control of Everton, while seeing his 94% equity stake reduced, the people said. A-Cap and its partner would become the club’s co-owners, they said. The identity of A-Cap’s partner couldn’t immediately be learned.

777 Partners’ pursuit of Everton was dogged by financing problems and scrutiny of the investment firm’s management of its sprawling collection of businesses, some of which have run into difficulties with creditors. Australian budget airline Bonza, owned by 777 Partners, recently grounded all flights amid talks over the company’s future. 777 Partners had previously laid out ambitious plans to build a global airline portfolio.

Everton was among the founding members of the English Football League in the 1880s and is one of just a handful of teams that’s never been relegated from the Premier League. But it’s narrowly avoided dropping out of the top division in recent seasons despite heavy investment from Moshiri. The club has also taken on massive debts to build a state-of-the-art stadium in the Bramley-Moore Dock area of Liverpool in the northwest of England.

Another investor considering an offer for Everton is John Textor, the chairman of Eagle Football, an investment vehicle that holds an interest in Premier League club Crystal Palace FC. Textor has put his stake in Crystal Palace up for sale and has approached Moshiri about potentially submitting a bid for Everton, the person said.

A representative for Eagle Football declined to comment. Everton said in a statement in the wake of 777 Partners’ acquisition failing that it would continue to “assess all options for the club’s future ownership.”

Sign up for Bloomberg’s Business of Sports newsletter for the context you need on the collision of power, money and sports.

©2024 Bloomberg L.P.


www.bnnbloomberg.ca

BNN Bloomberg – Canada Business News, TSX Today & Interest Rates

Get the latest Canadian business news, TSX updates, interest rates and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.
www.bnnbloomberg.ca www.bnnbloomberg.ca
Click to expand...

Would like to see the particulars of this, is any of that being turned into equity or are they just offering to lend us money to restructure for a stake in the club.
 
Last edited:

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