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.
