MSP Sports Capital

[Bluelenny1984]

No one would buy the team short of a hope and a prayer OR a glory purchase. That won’t be a private equity fund.

So I'm right in saying investment just got alot more difficult?

 

[Billy Dean]

I always assumed it was Moshiri/Usmanov loaning the money to themselves but obviously not

IIRC it’s particularly transparent who owns them. I think a couple of Irish “accountants” one of whom was working in a car dealership, were listed as directors and they seemed to be affiliated to a company in the BVI I think it was. They were previously called JG Funding

 

[Neiler]

I'm being honest, I know nothing about business. Does anyone know what could potentially happen if we don't get investment/takeover?

So the idea with MSP mate was they would invest 150 mill in the club for a 25% stake in the club, with additional warrants - options to buy an additional stake in the club likely pending further milestones - kind of what Moshiri did incrementally.

Moshiri and Everton were doing this as the loan market weren’t prepared to give the club a loan of 300+ to finish the ground. The idea was that MSP would give £150 mill, prob 100 mill for the ground and 50 mill in capital to the club. This has now fallen down.

So it seems instead of taking a stake in the club MSP will lend Everton the £100 mill for the ground, but be a debtor and will charge a high level of interest for that loan. I assume Moshiris hope now is he can raise the remaining funds 200 + mill odd, JP Morgan and Mitsubishi are trying to do that.

Seperately Moshiri is now trying to sell his majority stake to 777 and get out of dodge.

So what does this mean for Everton, massive external debt, £200 mill to right and media, £100 mill to MSP, £200 mill + in a stadium loan. It’s important to say interest rates on that will be 10%+ per year, it’s a huge cost and questionable if we can manage it - think about our finances now, we make huge losses, we can’t support that, when we move it’s likely any benefit of moving will be eaten up in servicing that debt for many years.

Essentially Moshiri wants out before any of the above comes due to be paid or repayed - thus he’s trying to sell after dumping us in 100s of millions of debt with high interest costs, that will take many years to try and manage.

 

[Goodisongang]

hopefully now he's not getting their investment, it encourages him to just sell up completely.

going only one way under this board

 

[BeardedScotsman]

But the difference here is that they are still lending us the money despite it being unsecured.

At a very high interest rate.

I would be curious if it is unsecured. The stadium is an asset. I would guess, based on the company name, that Media Rights Funding is lending the club money versus future television dollars.

 

[Wat Tyler]

IIRC it’s particularly transparent who owns them. I think a couple of Irish “accountants” one of whom was working in a car dealership, were listed as directors and they seemed to be affiliated to a company in the BVI I think it was. They were previously called JG Funding

Phillip Green

 

[HalfTimeSayers]

Another loan on commercial terms, on top of the existing dodgy one, we will be paying Haaland salary levels of interest every week.

Starting to not see the point in being being owned by a billionaire.

 

[jinkyali]

MSP was to buy the club over three calendar years by making three separate cash investments in the club. Those funds would be used to finish the stadium and probably let Moshiri walk away with some cash in his pocket.

From the investor side, it appears that there is a lender in the UK that has to sign off on Moshiri handing over the keys. And they refuse to do so.

So is that lender the ones who BK has used in the past?

 

[Neiler]

But the difference here is that they are still lending us the money despite it being unsecured.

They already have, £50 mill I believe, instead of equity, they will be charging a high rate of interest.

 

[BeardedScotsman]

So I'm right in saying investment just got alot more difficult?

Yes. Certainly narrows the circle of possible buyers. Would need some random billionaire like Khan at Fulham or something

 

[stretford blue]

So is that lender the ones who BK has used in the past?

Yeah links to bill and Phillip green I think

 

[Bluelenny1984]

Yes. Certainly narrows the circle of possible buyers. Would need some random billionaire like Khan at Fulham or something

Wow this club is in a bad way, if all this debt is costing the club so much money why would 777 even want to buy in?? The ground is obviously a huge asset but it's not like they can just sell that as it isn't as attractive without a long term tenant like a Premier League football club and you can guarantee it will have charges all over it to secure all this debt. This is a total [Poor language removed] show, this has thrown up so many questions about pur future.

 

[magicjuan]

Phillip Green

It's basically Vibrac, again.

 

[Wat Tyler]

It's basically Vibrac, again.

Wasn’t Vibrac also based in BVI? Moody

 

[Marius57]

Tried to find anything out about RMFL.

They have been involved with West Ham (https://www.claretandhugh.info/pl-to-end-west-hams-offshore-borrowing/amp/).

Another article I found was about them lending to numerous LaLiga clubs. The Legal team that sorted it was the same legal team that had worked with the Vibrac funding mentioned in the West Ham article (who had also funded us and saints).

Eleven LaLiga clubs to jointly receive a EUR67M loan from Rights & Media Funding Limited

The loan is one of the first major loans for a top European league

www.laliga.com

Seems mega dodgy. And possibly just Vibrac rebranded.