Report: A-Cap propose to step into breach left by 777 Partners

Especially if MSP have an ace in their hand...

Sounds like a stop-gap measure and a means to protect investments already made.

Supporting Everton on every level is like purgatory... constant relegation battle; protracted points deductions, drawn out for months; transfers remember them) would go on interminably.

Boardroom resignations will they have the club announcements that never arrive... now this 9-month takeover saga that has become more complex than the war in Yugoslavia!!

I have read hundreds of mostly intelligent often enlightening posts on the debts, 777 Partners, Usmanov, A-Cap, R&MF, fuckin B+M, MSP and another group I can't even remember!!

I understand less now about big business and administration, debts, share ownership etc etc etc than I did at the beginning.

All I know is someone is going to take a fuckin haircut possibly.

Smart move by A-Cap if they can pull it off. But they just want a piece of the pie, not run a football club. That's the missing bit of the jigsaw.

It sounds it.

It's a vital part of any solution to the crap we are in, but they obviously have no desire or intention of running a football club.

Prior to this, A-Cap would actually have been a safer bet as owners of EFC but now, through their exposure to 777, they're in a perilous situation themselves, albeit more likely to survive if they're not completely implicated in the fraud case in New York.

This looks like a stopgap measure that would allow A-Cap to eventually recoup their £200m and, if they're successful in restructuring our debt, it would reduce the financial stress on the Club.

It might also be good for Moshiri if he's content to sit tight. Eventually, both he and A-Cap could sell up for more than he could hope for now sitting on such a distressed asset.

Textor would fit that bill but would have to sell his Palace holdings first, so a holding pattern?

Thank you, I really have no idea about the intricacies of these matters, I just know "follow the money" holds sway.

It sure makes sense that these guys put up the loans and are now protecting their investment. Where it takes us… I have no idea!

Yes, stabilising the club would help their position, yet us as fans want to see progress, a cohesive plan from the boardroom, playing staff, recruitment, academy and right down the whole structure of the club.

Who knows where this is all going to end, but these don't seem like the long-term solution.

The one thing that is slightly worrying, which I didn't know, is that A-Cap are also named in the 777 lawsuit.

Deadline day came and went. Moshiri is potentially the worst football club owner, ever!! I can't even begin to thank him for the new stadium. I hate him, and I hate Bill Kenwright.

I'll just wait for the war in Ukraine to end because that is the only hope for us, Usmanov, his puppet bell-end, and Everton FC. What has happened to us, for fuck's sake???

I seem to remember AC Milan had a Chinese takeover, and it emerged early doors that they didn't have the money, so the company who lent them the money took control of the club.

Whether they are part of 777, that I don't know, but it would make sense as to how 777 can just pull money from backers out of thin air.

But in reality, no such thing as that when a third party puts £200M into property, as that automatically provides a beneficial interest regardless.

I agree with Christine, because with Rights & Media Funding currently making an absolute fortune out of Everton, why would they want things to change?

If A-Cap actually were 777 Partners in disguise, it does feel like it's been part of a long-term plan being played out between them and Usmanov, and our curse is going to continue.

Crippled as we are by Kenwright and Moshiri, we're in no position to sign anyone of note, and everyone knows the depth of the barrel of shite into which the gruesome twosome sunk us years ago.

That means we have to sell, big time, and urgently and that, married to our inability to spend, is a nigh-on perfect recipe for relegation next season.

A-Cap are in court trying to preven AM Best Credit Agency from downgrading their Credit Rating. Through the Bonza investigation, it has materialised that A-Cap is closely linked to 777 Partners.

The Mirror story is basically true, Moshiri is continuing the 777 way. The question is: Who really is pulling the strings in this continuing shambles? A-Cap will be no different.

However, this story is pressing the notion that the £200M, and further money invested wouldn't be controlling equity, which was the plan under 777, which suggests it would be more of a holding arrangement to protect the money they've already put into the club via 777.

"Stockbroker entrepreneur Andy Bell and property magnate George Downing are competing against US firm MSP Sports Capital to enter exclusive talks with Moshiri, according to people with knowledge of the matter "

Maybe it's just a conspiracy to make us think me might get out of this in one piece.

I understood that Bell and Downing were acting as a conduit to channel MSP's money into Everton loans. It would be strange if they were now competing against MSP. I wonder why that might be.

Owner Farhad Moshiri is entertaining offers from rival creditors after sale to 777 Partners collapsed

Everton Football Club's creditors are battling to buy the Premier League side from its British-Iranian owner Farhad Moshiri, in the latest twist following the collapse of 777 Partners' takeover deal.

Stockbroker entrepreneur Andy Bell and property magnate George Downing are competing against US firm MSP Sports Capital to enter exclusive talks with Moshiri, according to people with knowledge of the matter.

While Bell, Downing and MSP are central figures because of the loans they have provided to help fund the club's new stadium, the people said Everton has received other investment proposals.

The Liverpool-based club has been in limbo since September, when 777 agreed to become its next owner. However, the Miami investment firm failed to meet a series of conditions required for Premier League approval and its deal with Moshiri expired last week.

BDT & MSD Partners, the merchant bank and investment firm, is ready to provide financing to the club as part of a takeover, according to people with knowledge of the matter. The US bank has not agreed to back either of the creditors yet, those people said, but is willing to support the most credible buyer.

BDT & MSD, Moshiri, Everton and Bell declined to comment. MSP and Downing were approached for comment.

US insurance group Advantage Capital Holdings, a big lender to 777, has made a separate proposal, according to a person with knowledge of the matter. Bloomberg earlier reported that A-Cap had offered to refinance all of Everton's existing debt and take a minority equity position, with Moshiri retaining a majority stake.

A-Cap did not comment on the proposal but previously told the Financial Times that it was now a “senior secured creditor of the club”.

Following its bid in September 2023, 777 provided more than $200mn of loans to Everton. The apparent shift of the debt to A-Cap follows the Miami firm's move to appoint an outside restructuring firm after clashes with 777's creditors and the unravelling of its Bermudian reinsurance funding structure.

A-Cap has been slashing its exposure to 777 after US state regulators and rating agencies raised concerns.

Everton is one of the most successful teams in English football history, having been crowned champions of England nine times, although the most recent of those triumphs came in 1987.

The lossmaking, indebted club has struggled since its finances were dealt a blow by the coronavirus pandemic, which meant matches had to take place in empty stadiums. Another blow came when Russia invaded Ukraine, forcing Everton to cut ties to sponsors connected to oligarch Alisher Usmanov, Moshiri's former business partner, who was placed under sanctions.

Meanwhile, Everton has had to finance the construction of a waterfront stadium that is designed to increase its match day takings in comparison with its current home ground, Goodison Park.

You need a bigger umbrella to cover who is trying to protect or keep in play their money...

Moshiri's shareholder loans are treated as equity (additional reserves in the accounts) and have been written off by Blue Sky Holdings. It is therefore £200M unsecured against the secured £158M Blythe Capital (MSP), with R&MF able to have a say.

In the case of MSP, the purchase of equity was blocked by R&MF, whilst 777 and A-Cap did not get beyond a Shareholder Purchase Agreement, not being able to provide the necessary monies.

Moshiri's only card is he is an owner passed by the Premier League. I wonder if there is anything in their rules that can reverse that.

Obviously the whole thing is a mess of his and Kenwright's making but, one way or another, any way forward will involve discussions with A-Cap as one of our largest creditors.

Basically either Bell and Downing consortium with BDT&MSD Partners or rich global investor consortium but not Textor (or presumably A-Cap).

Hopefully we all know soon.

Who knows? There will probably be a few more twists and turns in this.

It was then I thought that the only interest A-Cap had in us was getting their £200M back. My view hasn't changed. A-Cap are 777 wearing a different set of clothes (so probably Moshiri will like them and favour them over all others).

Therefore… No Thanks. With that pedigree, we don't want them anywhere near the club.