MSP Sports Capital

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Neiler said:
So the idea with MSP mate was they would invest 150 mill in the club for a 25% stake in the club, with additional warrants - options to buy an additional stake in the club likely pending further milestones - kind of what Moshiri did incrementally.

Moshiri and Everton were doing this as the loan market weren’t prepared to give the club a loan of 300+ to finish the ground. The idea was that MSP would give £150 mill, prob 100 mill for the ground and 50 mill in capital to the club. This has now fallen down.

So it seems instead of taking a stake in the club MSP will lend Everton the £100 mill for the ground, but be a debtor and will charge a high level of interest for that loan. I assume Moshiris hope now is he can raise the remaining funds 200 + mill odd, JP Morgan and Mitsubishi are trying to do that.

Seperately Moshiri is now trying to sell his majority stake to 777 and get out of dodge.

So what does this mean for Everton, massive external debt, £200 mill to right and media, £100 mill to MSP, £200 mill + in a stadium loan. It’s important to say interest rates on that will be 10%+ per year, it’s a huge cost and questionable if we can manage it - think about our finances now, we make huge losses, we can’t support that, when we move it’s likely any benefit of moving will be eaten up in servicing that debt for many years.

Essentially Moshiri wants out before any of the above comes to being paid or repayed - thus he’s trying to sell after dumping us in best with high interest costs, that will take many years to try and manage.
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Thank you very much for your reply, even if it's terrible news. We're in big, big, trouble. This club has become a joke.
 

Bluelenny1984 said:
Correct me if I'm wrong here, but if our existing terms on the existing debt precludes MSP from buying in to Everton because they can not secure debt against existing assets then that means anybody coming in trying to leverage the club faces the same challenges. So stopping short of an oil state buying us with there own money investment is a none starter??

Can anybody clarify that?
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A leveraged buy out will not be possible.

An oil state one would be. Or a takeover where they bought the shares of FM (which may not be oil states).

Debt related takeovers like MSP wont work.
 
HalfTimeSayers said:
Another loan on commercial terms, on top of the existing dodgy one, we will be paying Haaland salary levels of interest every week.

Starting to not see the point in being being owned by a billionaire.
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He lost his value as an owner a long time ago, watch him walk away now and leave us to fall out existence.

From a business perspective we are in a terrible position now.
 

BeardedScotsman said:
Yes. Certainly narrows the circle of possible buyers. Would need some random billionaire like Khan at Fulham or something
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Agreed. Realistically it needs Moshiri to finally see sense, realise his shareholding is damn near worthless and accept as little as £1 for his shares plus guaranteed repayment of his remaining unconverted loan to get a deal done with any buyer. Any new owner inherits £300m in external debt to potentially repay and an estimated £200m more to finish the stadium. They are not going to give Moshiri more than they have to up front.
 
Neiler said:
So the idea with MSP mate was they would invest 150 mill in the club for a 25% stake in the club, with additional warrants - options to buy an additional stake in the club likely pending further milestones - kind of what Moshiri did incrementally.

Moshiri and Everton were doing this as the loan market weren’t prepared to give the club a loan of 300+ to finish the ground. The idea was that MSP would give £150 mill, prob 100 mill for the ground and 50 mill in capital to the club. This has now fallen down.

So it seems instead of taking a stake in the club MSP will lend Everton the £100 mill for the ground, but be a debtor and will charge a high level of interest for that loan. I assume Moshiris hope now is he can raise the remaining funds 200 + mill odd, JP Morgan and Mitsubishi are trying to do that.

Seperately Moshiri is now trying to sell his majority stake to 777 and get out of dodge.

So what does this mean for Everton, massive external debt, £200 mill to right and media, £100 mill to MSP, £200 mill + in a stadium loan. It’s important to say interest rates on that will be 10%+ per year, it’s a huge cost and questionable if we can manage it - think about our finances now, we make huge losses, we can’t support that, when we move it’s likely any benefit of moving will be eaten up in servicing that debt for many years.

Essentially Moshiri wants out before any of the above comes due to be paid or repayed - thus he’s trying to sell after dumping us in 100s of millions of debt with high interest costs, that will take many years to try and manage.
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As I said to you a few days ago mate, the club are in big trouble. I was aware MSP was basically done, but couldnt explicitly say.

The 100m for stadium is sort of good, and probably limps us to January.
 
Surely to god one of the Everton hating journos will take this opportunity to lay out exactly all of the known and suspected parties in all of this web of intrigue in one clear, up to date, damming article.

They’ve spent years gently prodding and poking with half the facts and quoting that “football finance expert” who knows no more than anyone else with a passing interest statutory accounts. Flip flopping articles between points deductions, legal threats from Leeds, aborted stadiums and laughable on-field results. They could and should finally do us all a favour and just pull everyone’s kecks down and get this over with.
 
Bluelenny1984 said:
Yes that's what I thought, how I saw it to. Problem is we aren't attractive to an oil state either, that's a pipe dream.
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We sort of are attractive to an oil state, in a roundabout way. We have had ME interest. They love a turnaround story, with a new stadium.

But look, while you have FM/BK working in their own interests, we wont attract buyers.
 

HalfTimeSayers said:
Surely to god one of the Everton hating journos will take this opportunity to lay out exactly all of the known and suspected parties in all of this web of intrigue in one clear, up to date, damming article.

They’ve spent years gently prodding and poking with half the facts and quoting that “football finance expert” who knows no more than anyone else with a passing interest statutory accounts. Flip flopping articles between points deductions, legal threats from Leeds, aborted stadiums and laughable on-field results. They could and should finally do us all a favour and just pull everyone’s kecks down and get this over with.
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They're not interested in the least. Theyve got no idea.
 
Neiler said:
We owe rights and media funding about 200mill, that’s secured against assets, Rights and Media weren’t prepared to change or dilute their security for MSPs benefit, thus MSPs investment would/could have been unsecured as such they probably wouldn’t continue with the deal.

Like having a car loan, secured against your car and you go looking for another loan on the same car - the first lender kicks up a fuss and the second lender goes, I’m out.
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I thought moshiri paid off our debts when he came in. Obviously not if we owe £200m to rights and media. Do this debt go back to 2016 before moshiri bought in then? Or have we continued to borrow from them over the past 7 years.
 

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