Home Football Everton Sign MSP Exclusivity Deal

Everton Sign MSP Exclusivity Deal

Everton Sign MSP Exclusivity Deal

Everton have reached an exclusivity agreement with New York-based company MSP Sports Capital for potential investment in the club, BBC Sport understands. Sources say the deal is not yet done but talks are progressing over funding. The club require funding for their new stadium, being built on Bramley Moore Dock, after costs increased from £500m to about £760m. In their latest accounts, the club posted financial losses for a fifth successive year, totalling more than £430m. The Toffees are currently two points above the Premier League’s relegation zone with one game remaining, but could drop into the bottom three if Leicester win at Newcastle on Monday (20:00 BST).

MSP is believed to be looking for a 25% stake with a preferential share structure, not equity in the club, so would be paid back in interest. 777 Partners had been in talks over a takeover from owner Farhad Moshiri, but had not been prepared to pay a ‘significant’ price owing to the debt on the balance sheet – which stood at £141.7m in the latest accounts. British-Iranian businessman Moshiri has invested more than £750m of his own money since 2016, but some supporters are deeply unhappy about his ownership of the club. Toffees fans have held protests before some home games this season and have called for Moshiri and the board to leave the club.

An exclusivity agreement protects MSP from being outbid by another party but it does not offer full protection from that happening outside of the specified time period. MSP Sports Capital describes itself as an investor in sports teams, leagues and businesses that “pursue ambitious, challenging tasks”. Its current portfolio includes European clubs such as Brondby in Denmark, Augsburg in Germany and Estoril of Portugal. Its chairman, Iranian-American billionaire Jahm Najafi, is the vice-chairman of McLaren and also a minority owner of NBA team Phoenix Suns. He attended the defeat by Southampton at Goodison Park in January and his net worth was valued at £2.9bn by the Paddock Magazine in 2021.

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