Everton supporters could be about to endure two takeovers in quick succession, according to a leading expert.
The Toffees are locked into a bleak takeover saga involving Miami-based investment group 777 Partners, whose financial and legal issues have rendered their capacity to fund a deal a major doubt.
Now, Liverpool University football finance lecturer Kieran Maguire has claimed that Everton supporters could be set for more turbulence extending into next season.
Everton could be sold twice in quick succession
Speaking on his Price of Football podcast, Maguire claims that MSP Sports Capital, who have an option to take a majority stake as part of a £160m financing deal, could buy the club to then sell it to another party.
The former administrator suggests that MSP may end the threat of administration that is looming over the club and continue to fund them while they explore options for another full sale.
“You could still have a strategic administration but my understanding from talking to senior sources is that the lenders are very opposed to that,” he said.
“Normally, it’s the board of directors that would put a club into administration. If the likes of MSP have said ‘if you’re going to go down that route, we’re going to lose the control we do have’.
“I still think the most likely outcome is that there will be new owners by the start of next season. Those new owners will be MSP – but not for long.
“They’ll buy it because it protects their position best, then they’ll be actively looking to market the club to another new owner. But at least they have the resources.
“They’ll be putting pressure on Moshiri not to put the club into administration.“
What is the latest with 777 Partners?
It appears as though the 777 Partners route is a totally lost cause.
Josh Wander and Steve Pasko, the two driving forces behind the would-be takeover, were removed from the board of the group’s football division and have now resigned their positions at the firm entirely.
Last week, the group loaned Everton an additional £8m, bringing their total investment in the club to over £200m. However, this was part of a prearranged agreement and does not indicate a revival of the deal.
When could Everton’s takeover be complete?
Everton owner Farhad Moshiri has given 777 Partners until 31 May to prove to the Premier League that they can finance the deal.
That, however, is a formality and the chances of a miraculous turnaround are so remote that the British-Iranian billionaire has now begun exploring alternative options.
In theory, MSP Sports Capital could trigger a deal to take a controlling stake in the club at any time – but the complexity of the financial situation means that that will take months not weeks.
Will MSP Sports Capital buy Everton?
It appears that MSP are the most likely option at this stage.
They already own five other football clubs as well as a stake in F1’s McLaren racing and they are a credible institution who would not encounter the same hurdles as 777 when proving that to the Premier League.
They are not the only show in town, but their option to take a controlling stake in the club, as well as their established relationship with Moshiri, means they are the probable next owners. At least in the short term.
Qataris, private equity, local group: Who else could buy Everton?
As with almost any Premier League takeover story in 2024, there have been links to sovereign wealth funds in the Arabian Gulf.
Qatar’s public investment body has reportedly been contacted with a view to exploring a deal, while Kuwait are keen to join Saudi Arabia, the United Arab Emirates and Qatar in owning a football club.
Over half of the owners in the Premier League are now from the United States, and Everton could be an attractive option for the American private equity sector – even as a distressed asset.
Another option is a local group with existing links to Everton.
Andy Bell and George Downing have been linked with a potential takeover as part of a consortium with MSP Sports Capital.
Everton’s Premier League status is secure for another season, but with the transfer window looming, not to mention a £500m stadium to finance, the funding situation must be resolved as a matter of urgency.