MSP SPORTS CAPITAL HAVE PROVIDED MORE THAN £100 MILLION OF LOANS TO EVERTON STADIUM DEVELOPMENT HOLDING COMPANY
In recent weeks and months there has been significant speculation regarding the funding of Everton Football Club and in particular, the funding of the new Everton Stadium at Bramley-Moore. In the absence of evidence and news from the principal parties I have speculated on the potential for administration if Everton did not receive new funding from shareholders, lenders or other parties.
MSP Sports Capital have long been considered the most likely providers of funding for both the business and the stadium financing, prticularly in the light of their SEC filing regarding raising $160 million dollars in June of this year.
Equally the setting up of Blythe Capital (controlled by Andy Bell) as security agents indicated that new investment or funding was likely to occur.
Confirmation of new funding for the Everton Stadium Development Holding Company
I am delighted to be able to confirm the following:
- MSP Sports Capital have provided over £100m in loans to Everton Stadium Development Holding Company, these funds were transferred to the company over several tranches between May and August this year.
- Blythe Capital (a company controlled by Andy Bell) acts as the Security Agent for the Loan Agreement between the lenders (MSP Sports Capital) and the company. This has been a matter of public record since 23rd May 2023 and is filed with Companies House, which refers to the Lenders and Security Agent as separate entities.
- As Blythe Capital is the Security Agent for the Loan Agreement with MSP Sports Capital, there is no requirement for the charge to be in favour of MSP Sports Capital
Impact of the above:
This is extremely good news for Everton and for our fans. It removes any threat of administration, secures a significant amount of the additional funding for the stadium and paves the way for further investment or the completion of a senior debt package to complete and secure the long term funding for Bramley-Moore.
The additional funds originally intended as working capital for the use of Everton Football Club have not been invested and as reported extensively elsewhere, MSP Sports Capital are not equity investors in Everton Football Club but have provided over £100m of loans to the stadium development company.
This should be greeted with a huge sigh of relief and the hope now is that appropriately skilled and funded equity investors are found for the football club.
Categories: Everton finances