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Sources: Everton £100m deal at risk of collapse after takeover twist
MSP Sports Capital can recall their £100million loan to Everton if they do not approve of the club’s new owners, sources have told Football Insider.
The Toffees received a £100million loan from the US investment group this month despite talks of a majority takeover collapsing.
It is understood that the £100million was needed by Everton to help finance the construction of the Bramley Moore Dock Stadium as well as keep up with monthly bills.
The Merseyside club have also announced that a majority takeover agreement is in place between Farhad Moshiri and 777 Partners.
The deal would see Moshiri sell all of his 94 per cent stake in the club, but if that deal is finalised it could see Everton lose support from MSP.
Football Insider has been told that the MSP loan has a ‘recall clause’ that allows them to request repayment of all funds if they don’t approve of the club’s new ownership.
As reported by the Daily Mail, MSP have indicated that they “do not approve” of 777 Partners as owners and would consider calling in loans if the deal is finalised.
It is unclear whether 777 Partners would have the finances to both pay off Everton’s recalled loans and keep up with the club’s monthly payments and stadium costs.
Everton have also extended a loan deal with Rights & Media Funding Ltd, who also have a recall clause present in their agreement.
The Toffees stated that they expect the 777 takeover deal to be closed in the fourth quarter of 2023, but complications over loan clauses could cause delays.
In other news, Kieran Maguire urges Premier League to ‘protect’ Everton from takeover deal