MSP Sports Capital

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Efcjake said:
Given what's just happened with the MSP deal falling apart as a result of one of these stipulations in the loan you have to question how wise it was to agree to such a contract.

The way it looks like right now is that this third party Rights and Media Funding has a very large say in the management and direction of the football club. We can't raise money by diluting Moshiri's share-holding to cash in on equity and we can't take out further lending without repaying this company in fully per The Athletic.

That's a fair amount of control to give away in exchange for what's supposed to be a "payday loan".
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It's just how loans work. Someone gives you 200 million, they'll want safeguards in place to protect it.
 
pfim said:
It's just how loans work. Someone gives you 200 million, they'll want safeguards in place to protect it.
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This is Rights and Media Funding limited facility started out secured against the TV money to support cash flow for transfer business.

Just like under Bill, and with the exact same lenders and shady characters involved, this "payday loan" has become the main lender to the club to the point where it can justifiably demand clauses like that.

If I'm the lender I absolutely want that in the agreement.

Moshiri and The Board have completely failed to secure any sort of long-term beneficial loan to finance the stadium. People were asking about this constantly at the AGMs before Moshiri cancelled them.

First it was the council was funding it, then in 2020 it was JPMorgan and Mitsubishi had been on the job looking for deals for 12 months.

Now because of the state we've let Bill and Moshiri get us into we are so far in the pocket of Bill's mates that we can't even sell off part of the club to finance the stadium because this lender will demand full re-payment.

Again, it's not a coincidence that these are Bill's mates.
 

roydo said:
Makes no sense to me. But then I am no billionaire accountant.
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It's a fairly simple path to follow.

We took the loan out again in 2016 after Moshiri cleared the debts to provide cash flow for transfers when we were spending big money.

Then as the financial and sporting performance took a nose dive with Covid and Usmanov's sanctions we have relied on this payday loan to pay the building costs of the stadium to the point where it has inflated to 200 million and they can prevent us taking on any other lending unless we repay them in full.
 
Efcjake said:
It's a fairly simple path to follow.

We took the loan out again in 2016 after Moshiri cleared the debts to provide cash flow for transfers when we were spending big money.

Then as the financial and sporting performance took a nose dive with Covid and Usmanov's sanctions we have relied on this payday loan to pay the building costs of the stadium to the point where it has inflated to 200 million and they can prevent us taking on any other lending unless we repay them in full.
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Thanks mate. That does make an awful sense. Begs the obvious question; why doesnt Moshiri pay it off? Or is that painfully unrealistic?
 

Have a hard time seeing how anyone would want to invest big money, but not get a controlling interest, in buying a percentage of any team if it is still going to have the same idiots in charge of it. Given the quality of this roster and the risk of relegation, I would only want a controlling stake at an appropriate discount to account for the potential that I may being fighting for promotion next year.
 

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