It's the same investment group that were involved with Everton - i haven't heard about the 200m though
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Spurs new investment
- Thread starter spurs8
- Start date
It's the same investment group that were involved with Everton - i haven't heard about the 200m though
My bad £158m.
"First, MSP Sports Capital, the New York-based investment firm that pulled out of an earlier deal to make a gradual takeover at Everton last year, exercises its right to seize 50 per cent plus one of Everton’s shares from Moshiri for 777’s failure to repay the £158million loan they gave to Everton last summer.
Strictly speaking, it was Moshiri’s failure to repay the loan but his circumstances changed when Russia launched a full-scale invasion of Ukraine. So Moshiri wanted 777 to pick up this bill, which is why the Premier League made it part of its test of 777’s ability to fund the club. But the April 15 deadline for repayment came and went, with MSP agreeing to give Moshiri/777 until the end of the season to find the money. That deadline has now passed too.
MSP, it should be added, also secured its loan on 100 per cent of the Everton Stadium Development Company, the club subsidiary that owns the new ground. This means it could have taken control of the club and the building site four weeks ago. The fact it did not is… interesting."
Everton's 777 takeover has fallen through - so what happens next?
The Premier League club’s proposed takeover by 777 has missed its deadline. These are the options for what could lie ahead…
www.nytimes.com
Danishfurniturelover
the prettiest spice girl
Whats 42 million between friendsMy bad £158m.
Everton's 777 takeover has fallen through - so what happens next?
The Premier League club’s proposed takeover by 777 has missed its deadline. These are the options for what could lie ahead…
DubaiSpur
Ian Walker
ricky2tricky4city
Steffen Freund
....you think DL is going anywhere lol.
Well beyond the thinking stage.
If it happened it would be 40%. So like usmanov at aresenal. Or that american guy at palace, who now wants to buy everton.
Levy will still be in charge.
Gutter Boy
Tim Sherwood
But what dividends will they want to take out of the club for their £800m share purchase? £30m a season? £40m? £50m?
DubaiSpur
Ian Walker
Probably. Loosening his grip on the club won't be instant, I accept that. Will take time to kick ENIC to the curb.
But, new part-owners bring a new perspective, and maybe one that isn't content with 23 grinding years with one League Cup to show for it on the pitch. If they're unhappy with the direction of the club, they can also go public about it.
It is an avenue to increasing pressure on ENIC, who otherwise have no one to answer to over their choices. That's a good start - it's more hope than we would have had in 23 years.
I'll take it.
DubaiSpur
Ian Walker
Hoping, praying...lot of words I could use beyond just 'thinking' lol
SpurMeUp
Les Howe
This is what DubaiSpurs doesn’t really understand. If an entity is in it to make money, we could do a lot lot worst than Levy; one of the most knowledgeable CEOs in the business.
Also @DubaiSpur who do you think is driving this investment that you are so pleased about? Might it be the person and company you love to hate. Can you admit that you’re pleased with DL and ENICs actions here?
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Baleforce
Arthur Rowe
Gutter Boy
Tim Sherwood
The only way we're coming out of this well is if we're giving away equity in the 4 housebuilding projects still to be completed.
Otherwise, giving away part of the club to American Hedge Funds is just a route to asset stripping and decline.
Otherwise, giving away part of the club to American Hedge Funds is just a route to asset stripping and decline.
Kandi1977
Garth Crooks
The motive of any investment into something that isn't their "lovechild" so to speak, will always be to make money. They will want a return that is better than the average investment. That is always the goal.
DubaiSpur
Ian Walker
A) 'One of the most knowledgeable CEOs in the business' - suffice it to say, I heavily, *heavily* disagree. He's average - I put it to you we could have hired any FTSE 500 CEO, and if we'd given them 23 years they would have had us in a similar position.
There was a time Levy had new ideas and was pretty innovative - he was the first to consider a DoF model in England, he used to have a good eye for talent (Edwards, Inglethorpe, etc.). Since neither he nor his boss actually put any money in, this was all he was worth to us. But now, every other team has caught up and surpassed us - DoFs are now old hat, and Levy no longer seems able to spot talent the way he once did.
B) re: if I'm pleased, it will depend on what is done with the money. If the money is spent entirely on the team, then fair enough, props to them.
If it's used to fund ENIC's real estate ventures instead, of course I'll call him out on it. Likewise if this minority investor isn't given a say in running the club.
Jurgen the German
Erik Thorstvedt
Longest serving owners in the league. Surely they are due to sell the club sometime in the next 5-10 years?