I think he has a claim on certain things. The MSP funds are a lot more nervy.
Youd hope Moshiri will insist on any funds as part of the deal pay off Bell/MSP. But he has no obligation too, and they could remain as debt on the club.
It's why I kind of hope a deal can be done with both parties. MSP can provide some expertise, stadium funding and personnel on the board, while 777 take up remaining positions and deal with the day to day of running the club.
It would require some dilution of their stake, but they would be working with a competent minority shareholder. I'd imagine theres a lot of overlap in thoughts.
In lay terms, it may mean that they convert them 50m into a minority stake, maybe MSP front some more, ah la what they did with Moshiri which gets converted to a 35% stake for another £100m which can go towards the next traunch if the stadium. It maybe the remainder of the stadium gets paid off, in exchange for debt that converts to equity upon opening for a 50/50 stake.
777 lose out on 50% upside, but also dont have the liability of having to find a funder for the stadium, and the club will be worth a lot more if it has a 1bn asset on its books, with minimal outstanding liability.