Everton have four options when it comes to a potential takeover – some more desirable than others.
US investment firm 777 Partners agreed to purchase Farhad Moshiri’s 94 per cent stake in September 2023, but a litany of lawsuits and financial issues have meant the Premier League is yet to ratify the deal.
The drama appears to have reached a crescendo today as The Times reports that Moshiri is now considering calling off the deal entirely amid doubts that 777 have the funds to get it over the line.
That would confirm what myriad fan groups, pundits and analysts have insisted for some time.
With Moshiri believed to have met with 777 Partners for face-to-face talks today, we take a look at the four possible outcomes of the protracted takeover saga.
Option 1 – Stick with 777 Partners
We’ll get this one out of the way first – the option that no Everton fan wants.
It now looks overwhelmingly unlikely that 777 Partners will be able to pull a rabbit out of the hat and rescue the deal at the 11th hour.
Everton’s official Fan Advisory Board and Shareholders’ Association have called on Moshiri to abort talks with the group and engage with another more credible bidder.
The situation has been exacerbated by the turbulence surround 777-owned airline Bonza, which went into administration last week.
The group also owns football clubs in Italy, Belgium, France, Germany and Brazil and new reports suggest some players in 777’s portfolio have been unpaid, with no money to pay them until the end of the season.
Everton have an annual wage bill £159m at the last count and have recorded staggering losses of £210m over the last three seasons. How 777 would turn that situation around is, to put it lightly, very unclear.
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Option 2 – MSP Sports Capital
Bloomberg broke news today that MSP Sports Capital is now conducting fresh research with a view to a possible Everton takeover.
The group came close to acquiring a 25 per cent stake in the Toffees last summer and have retained an option to take a controlling stake in the club as part of the £158m they previously lent the club.
It has also been reported that 777 Partners do not have exclusivity with Everton, so pivoting to MSP Sports Capital might be an attractive option.
The group already own five football clubs, as well as large stake in McLaren Racing and a majority stake in action sports events company X Games.
MSP showed their ambitions to enter the Premier League market when they conducted due diligence over a possible £3billion takeover of Tottenham last year.
Whether the creditors would want to take all of Moshiri’s stake or enter into a coalition with other investors remains to be seen.
Option 3 – Someone else
A number of reports in recent days have suggested that there are multiple suitors for Everton besides 777 Partners and MSP Sports Capital.
At present, the identities of these groups remain anonymous. But a number of entities have previously been linked with a takeover since Moshiri made it known that he would be willing to sell.
US property magnate Maciek Kaminski and special purpose acquisition company LAMF Global Ventures Corp are among the names who have considered a bid over the last two years.
State-backed investment from the Gulf has also been reported, with the Qatar Investment Authority among the sovereign wealth funds reportedly having been contacted, per iNews.
Option 4 – Stick with Moshiri
Again, Everton fans might not want to hear this one.
Some have suggested that Moshiri could retain a minority stake if 777 Partners fail to provide proof of funds in their takeover bid and Everton continue look for alternative investment.
The British-Iranian billionaire needs financial backing and, as he appears unwilling to continue to fund the club into which he has pumped billions of pounds, could seek a partner.
He would, however, need to relinquish a sizable chunk of equity for the club to be able to fund the Bramley Moore Dock Stadium Project and repay MSP Sports Capital’s £158m loan.