Everton Seek New Investment After Deal Collapses
Everton Football Club has restarted its search for new investment following the collapse of the MSP Sports Capital deal.
In May, Everton reached an exclusivity agreement with MSP Sports Capital for a ‘significant investment’, however, subsequently the New York-based company withdraw its interest after opposition from another of Everton’s existing lenders.
The club is desperately seeking investment for its new stadium currently being built on Bramley Moore Dock in Liverpool. Costs for the project have exponentially risen from £500m to roughly £760m.
In February 2023, Farhad Moshiri expressed that the club was “not for sale” despite engaging with numerous potential investors.
It was believed that MSP was seeking a 25% stake with a preferential share structure and not equity in the club, and would therefore be paid back in interest.
The former exclusivity agreement had protected MSP from being outbid by another party. The other party in question was 777 Partners. The fellow American investment group were given access to the Toffees financial accounts but were not prepared to pay a significant price owing to the debt on the balance sheet – which stood at £141.7m in the latest club accounts.
Everton’s latest accounts show that the club has lost money for the fifth successive year with financial losses totalling more than £430m over that period.
An Everton spokesperson, said, “The club can confirm that it continues to make good progress on securing the complete stadium financing, and as part of this progress it has secured a loan to support the development costs for our new stadium.
“As the majority shareholder has stated previously, he will continue to explore discussions on new investment, provided it is right for the future development of the football club.”
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