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
That feels like good news Paul. Does this mean that the 777 takeover reported yesterday is not true? What does the MSP news mean for the Board membership going forward and in terms of replacing interim members?
Thank god, does this keep 777 away mate ?
Does this bring AB& Co nearer to investing? 40 is almost 50!
Good news and thank you for bloodhounding this update out on an otherwise nervy day. Believe we are expending circa 15m a week at present on BMD – does this buy us a further 6-7 weeks then to bring in further investors or debt funding to finish it?
What do I know Paul, but two things jump out at me.
1. Would MSP get into bed with 777? The EFC Stadium Co. Is still owned by EFC and would ultimately end up with them. The reputational damage to MSP seems hard to swallow.
2. Which makes me think that 777 aren’t as close as they’d like to be 🤞and that I have to hang on to the idea that MSP are rallying investors as we speak to go all in on a buy out of Moshiri 🤞🤞🤞
Sad times for this once great institutional giant of the game. We have become fodder to be passed around by the likes of 777 as a company in such dire need of help that they’d contemplate selling to them in the first place.
Regards
Keith
Could this not allow Moshiri to separate the Stadium Company, leaving 777 to acquire the FC? Moshiri/MSP then lease BMD back to EFC/777 or, God forbid, sell it on to the highest bidder? More feasible RoI for Moshiri AND immediate removal of millstone of club on to 777?