Who's your money on in the takeover 'battle'?

[toffee66]

MSP will acquire the club and the parties holding up the process are on board. An agreement was reached last week in Monaco that satisfies an earnout schedule for Farhad Moshiri, including an up front payment, and a repayment of debt to RMF. MSP will buy the club for roughly 40 million pounds and assume debt.

More to come

RMF are owed upwards of 60 Million. ACAP will have an equity stake in the club when the deal is completed. They are owed 200 Million by Moshiri against the new stadium.

The debt situation is bleak.

At least one other party (Bell & Downing) have briefed press people they secured a deal with Moshiri in Monaco last weekend so has he agreed with more than one in typically chaotic fashion? I certainly would not rule that out.

The MSP debt is secured against the stadium and Moshiri’s shareholding. ACap assuming 777’s position only have secondary security. RMF debt is nearer £200m, again according to the club (they provided a fact sheet to chosen media when the 777 SPA expired). Of course Everton is not the best run or most competent but you’d hope they know these basics.

It will all shake out in the coming days but in true Moshiri fashion it is as clear as mud and one cannot ever rule out him finding ways to screw it up.

 

[matty1878]

40 million pounds were just raised by MSP through capital calls and investors were told it was to purchase a majority stake in the soccer team. This isn't something you can lie to investors about in the US.

so
in the land of the home and the brave
msp are the new owners to be?

 

[HalfTimeSayers]

Tough gig this ITK malarkey.

 

[Yarrgh]

the simplest may be to have the club sell the stadium to a separate entity also owned by the new owner. that would be a huge cash infusion to the club's books and take the debt away at the same time. any 2-bit accountant should be able to sort this out in a way that settles the books...

If only we had a two bit billionaire accountant in charge hey?

 

[BeardedScotsman]

This is a little misleading. When MSP raised their initial ≈140m last year it was to take a minority stake in the club, but ultimately they just ended up loaning the money to us instead. A new raise of 40m could simply be so that they could buy the club if they are the preferred bidders - doesn't mean it will happen.

In September, SOME funds were returned to investors. That same amount is now being called back in.

 

[matty1878]

Dunno.

I've always expected it would be MSP once it became clear that 777 was dead.

They were blocked last time by Rights and Media, not a chance they'd block it this time at risk of losing everything.

I'm fine with MSP, they'll bring a bit of competence to the operation and make sure there's quality people involved in the management of the club.

The muddying of the picture is whatever has happened with the original partnership of Bell/Downing/MSP. That all seemed rather cosy a few months back.

It will all come out in the wash I suppose.

what kind of company are these mate?

i’m gutted

 

[matty1878]

In September, SOME funds were returned to investors. That same amount is now being called back in.

so everton fc owe them money?

so we will owe MSP the club basically?

 

[Simon Buttle]

At least one other party (Bell & Downing) have briefed press people they secured a deal with Moshiri in Monaco last weekend so has he agreed with more than one in typically chaotic fashion? I certainly would not rule that out.

The MSP debt is secured against the stadium and Moshiri’s shareholding. ACap assuming 777’s position only have secondary security. RMF debt is nearer £200m, again according to the club (they provided a fact sheet to chosen media when the 777 SPA expired). Of course Everton is not the best run or most competent but you’d hope they know these basics.

It will all shake out in the coming days but in true Moshiri fashion it is as clear as mud and one cannot ever rule out him finding ways to screw it up.

He had lessons from an expert tbf.

 

[Toffe3m4n]

Dell, Bell & Downing sound like a decent bet?

 

[DanB90]

I told you what I have heard

What you're claiming is the complete opposite and frankly I do not believe it either

Because as I said. You don't sign "draft documents"

Calm down Warren Buffet.

 

[pfim]

Tough gig this ITK malarkey.

I'd never let myself get drafted into that.

 

[Mrk]

In September, SOME funds were returned to investors. That same amount is now being called back in.

Calling in a loan has very little to do with buying the club. If Everton default, MSP will end up with a significant stake in the club, but that scenario doesn't appear to be on the cards.

 

[Librarian]

This is a little misleading. When MSP raised their initial ≈140m last year it was to take a minority stake in the club, but ultimately they just ended up loaning the money to us instead. A new raise of 40m could simply be so that they could buy the club if they are the preferred bidders - doesn't mean it will happen.

Yeah but are they remortgaging their houses?

 

[matty1878]

This isn't what I've heard

In fact the complete opposite of what I've heard

Favouring Bell and Downing and MSD in terms of deal

so taking what your saying with your "draft agreements being signed" with a pinch of salt

i wanted bell and downing and at 6
i thought we were

now it’s 8-15 and it’s MSP and im deflated

 

[Damo_1878]

Calm down Warren Buffet.

I am calm