Surely the investment has already gone through?
The boardroom exits were anticipated in line with investment arriving, with MSP likely to seek at least two seats on the board when the deal is concluded. Following the departures of the trio at boardroom level at Goodison Park, filings with the United States Securities and Exchange commission, dated June 20, showed that a newly-formed company, MSP EFC Investors LC, had raised $165.5m (£130.2m), a figure higher than first anticipated, from a pool of 13 investors.
The SEC ‘Form D’ filing is a considerable development and points to the announcement of a deal being imminent. A Form D must be filed within 15 days of the sale of securities with the date of first sale being the date on which the investor is ‘irrevocably contractually committed to invest’. Moorad was the signatory on the Form D, with MSP EFC Investors GP LLC, MSP Sports Advisors LLC, Najafi and Moorad all named as related parties.