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Everton secure 'substantial' loan to help fund new stadium
With the next tranche of funding to stadium contractors Laing O'Rourke due imminently, the Mail On Sunday report that Farhad Moshiri has landed a loan deal brokered by Blythe Capital.
According to the report, the Ormskirk-based venture capital firm aren't providing the funds themselves but have been the conduit between Everton and the lender(s) as the club seeks to bridge an estimated £300m shortfall in what is required to complete the new ground at Bramley-Moore Dock.
The news comes after New York firm MSP Sports Capital entered into a period of exclusivity ahead of a potential investment into the club that would provide additional working capital that could be converted into shares at a later date.
The Mail's report by Alex Miller and Nick Harris does not mention specific figures but describes the loan as "substantial". If true, it would add to the £200m loan facility that Everton are said to have with Rights and Media Funding but it would greatly enhance the club's prospects of finishing a stadium project that could be vital to its long-term future.
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Having committed a reported £450m of his own money to Bramley-Moore Dock, Moshiri has been seeking investment for more than a year now and has been in conversation with MSP for the past few months.
Miami-based 777 Partners were said to be interested in a full buyout of the Blues but they are no longer in talks and are expected to focus on opportunities elsewhere.
Original Source: Mail On Sunday
Reader Comments (22)
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2 Posted 28/05/2023 at 01:55:04
I guarantee if you leave the lender alone with Scooby Doo and Shaggy they'll uncover his true identity. Maybe it's Bill who's relying in turn on a loan from the Cosa Nostra
3 Posted 28/05/2023 at 06:20:03
Any bodies that deal with an organisation he is involved in will find decisions they make will have the added pressure of consideration of the impact on the wider vested interests of the authorities they represent.
I just hope that Kenwright & Co have outlasted their usefulness.
8 Posted 28/05/2023 at 06:42:07
If it is the Cosa Nostra, let's hope he upsets them and earns a concrete overcoat!
9 Posted 28/05/2023 at 07:46:48
The terms of the loan are all-important, high interest rates will be a lead weight on the club's finances going forward.
What concerns me is the huge debt burden vs financial benefit of the new stadium. How much of the increased revenues will be immediately diverted away from improving the squad in repayments?
I think the new owners will refinance when conditions are better, remortgage the club, TV rights etc over a very long term. This will bring the yearly debt repayments down and allow the club to expand in line with its increased revenues.
10 Posted 28/05/2023 at 09:33:05
He also owns AJ Bell.
11 Posted 28/05/2023 at 10:58:15
12 Posted 28/05/2023 at 11:27:43
13 Posted 28/05/2023 at 12:00:58
14 Posted 28/05/2023 at 12:16:10
15 Posted 28/05/2023 at 12:41:12
He is a huge Evertonian with a lot of business acumen. Maybe the future is becoming brighter but we need the help of those 16 players this afternoon.
UTFT - getting very nervous!
16 Posted 28/05/2023 at 13:09:28
Live TV Games: 㿀M
Facility Fee: 㾽.7M
Domestic Share: 㿋.8M
Domestic Merit: ٤.4M
Foreign Share: 㿜.9M
Foreign Merit: ٢.8M
Commercial Share: ٤.8M
Why that piece of shit Goodison News website calls this a 'windfall', I have no idea. It's money each club gets automatically for being in the Premier League.
17 Posted 28/05/2023 at 13:37:06
Michael, ‘piece of shit' is right. Over the last few weeks, I have been keep an eye on their constant headlines. Always a negative connotation weasled into it, the repetitive is too much of a coincidence. I have got suspicions about their allegiance and motives.
18 Posted 28/05/2023 at 15:53:55
19 Posted 28/05/2023 at 16:12:36
20 Posted 28/05/2023 at 16:12:57
I reckon he's got his hands full.
Shitting myself here man!
21 Posted 29/05/2023 at 09:01:37
22 Posted 29/05/2023 at 11:58:55
Sorry. I'll get me coat.
23 Posted 29/05/2023 at 12:04:56
Trotter's Independent Traders
New York. Paris. Ormskirk.
24 Posted 29/05/2023 at 19:17:31
Aren't we in enough debt already, our debt must be near the cost of the stadium by now.
25 Posted 29/05/2023 at 21:46:39
26 Posted 29/05/2023 at 21:56:30
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1 Posted 28/05/2023 at 01:13:47