Paul Brown suggests that MSP Sports Capital’s chances of becoming Everton’s long-term owners are slim, even if they manage to secure a majority stake in the club.
The journalist, who has been consistently covering the takeover situation alongside Philippe Auclair for Josimar, responded on Twitter on April 10 following reports of 777 Partners scrambling to raise funds before the repayment deadline for £158 million in loans from MSP.
If the repayment isn’t made by Monday (April 15), a crucial condition set by the Premier League for the takeover to proceed, MSP could potentially acquire Everton, as the loan was secured against Farhad Moshiri’s majority stake. However, Brown suggests that the company’s chairman, Jahm Najafi, has shown no inclination to do so, especially after failing to secure a 25% stake last summer.
Dave Powell, writing for the Liverpool Echo on April 10, stated, “If 777 doesn’t meet all of the conditions set out, including repayment of the MSP loan, then majority ownership of the club could pass to MSP, who would then have the task of cleaning up the asset and finding new buyers, which might not be a particularly appealing task, even if it may represent a chance to get a considerable return on the monies paid, given they were willing to part with £150m for 25% equity a year ago.”
However, Brown’s perspective is different: “I think people are getting carried away by the possibility of MSP taking ownership stake in EFC. Jahm Najafi alone could easily fund a full takeover but there are no suggestions he wants to. Very unlikely MSP are ever long-term owners of the club now. Kingmakers, not kings.”
Is Jahm Najafi and MSP uninterested in acquiring Everton?
Following MSP’s failed attempt to secure a minority stake at Goodison Park due to an objection by Credits Rights and Media Funding Ltd, their involvement was limited to providing loans for the stadium project. Despite this, there had been previous reports of Najafi’s interest in full ownership of a Premier League club, with Everton being considered alongside a bid for Tottenham.
Acquiring Moshiri’s shares for the same amount they intended to invest in buying a quarter of Everton could present an unexpected opportunity. However, with significant debts, ongoing financial injections needed for day-to-day operations, and the crucial stadium construction still underway, the situation is far from straightforward. Additionally, any potential investment in the team itself remains uncertain, especially considering Everton’s financial constraints and risk of further breaches of profit and sustainability regulations.
While 777 Partners cannot be completely ruled out, the possibility of MSP’s involvement also remains. However, based on recent developments and Brown’s perspective, it seems a third party could play a pivotal role in Everton’s future.
In other Everton news, Nottingham Forest’s legal expert Nick De Marco has offered congratulations on the “interesting” developments in Everton’s second points deduction case.