Echo have it now.
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I think Moshiri purchased a majority stake in the club?
MSP Sports Capital sign exclusivity agreement with Farhad Moshiri as Everton takeover draws closer
MSP Sports Capital and Everton owner Farhad Moshiri have signed an exclusivity agreement as they edge closer to a takeover deal.Moshiri needs investment to help fund the new stadium and it was reported by the Daily Mail that the American Investment company had moved ahead of 777 Partners in the race to take a stake of the club.
Now a tweet from Sky Sports journalist Alan Myers (22 May) says documents have been signed for the two parties to enter an exclusivity period, although a full deal is still some way off being done despite talks “progressing well”.
“American investment company MSP Sports Capital have signed an exclusivity agreement with Everton owner Farhad Moshiri as the club head into a crucial weekend which sees a three-way battle to stay in the Premier League,” he wrote on his personal Twitter account.
“The New York based company has been in discussions with Moshiri for months and is now in pole position to provide investment into the club. SSN has been told the deal is “progressing well” however there is still work to be done before it’s officially announced.
“The Everton owner is adamant the main focus this week should be on Sean Dyche and his team preserving the club’s Premier League status when they play Bournemouth on Sunday, with two out of three clubs, including Leeds and Leicester, still with a possibility of being relegated.
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The article mentions the terms takeover and investment. They aren't necessarily the same thing. The article isn't particularly clear.
Daytripper
Player Valuation: £40m
I was under the impression a takeover would mean new people coming in and a complete change of personnel. It was clearly defined as investment not a takeover yet people called it a takeover. Some even thought it was a Man City situation.
Ferguson1878
Player Valuation: £35m
myers seems to be moshiris man while king seems to be kenshites
They can be the same thing or not and investment can or not incrementally lead to a takeover - that's how Moshiri started.
Can also be a senior debt arrangement - last i heard thats what was going to happen - that was before 777 seemed to play a full takeover card.
But overall i suspect no one knows at this point.
Myers is describing it as investment rather than takeover. Given the financial state of the club it’s probably necessary to keep the lights on and the builders on site so it’s a good thing. But it doesn’t solve the long term issues or the root cause of the financial difficulties. Hopefully they are at least insistent on big changes.
Simon Buttle
Player Valuation: £60m
On Alan Myers Twitter post he says he expects changes in the boardroom.
A takeover to me would involve purchasing a majority of the shares in the club, i.e. more than 50%. Because that gives the investor control over the company in terms of voting etc. You don't need 100% or close for it to be a takeover, but you need a majority of the shares.
The concern I have is a minor investor may not have the authority to bring about structural changes and board room changes. But they could if they controlled the majority of the shares in the company.
Daytripper
Player Valuation: £40m
Yeah I saw that mate. Not enough imo. Moshiri needs to go too. I Don’t mean to cry arse, I just firmly believe a full on takeover would be better for the club and disappointed it isn’t.
Yep, but sometimes building a majroity shareholding is done incrementally, with certain triggers accelerating the deal at a price - i.e. on stadium completion, PL survival etc. Moshiri i think was here a few years before he became majority shareholder and a full takeover took place.
Investment may be a senior debt arrangement, where MSP give the money and look for repayment at an interest rate, it would likely be senior debt and they get preferential repayment by the nature of it being senior and may look for seats on the board to mind their investment. Or could be a debt to equity swap and new shares created - or both equity and senior debt. I believe, this was going to be a senior debt deal with MSP - but that's before the 777 stuff, so not sure if its changed.
I suspect at this point nobody knows the exact nature of the deal.
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It is fitting with the disorganisation at the club that we are hearing takeover/investment chat now, just 6 days ahead of the biggest game we have had since the late 90s.
We need a total fresh start. We don't need Moshiri to find another investor, we need him to sell the club.
We need a total fresh start. We don't need Moshiri to find another investor, we need him to sell the club.
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