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Everton in talks with 777 Partners for new investment amid financial woes

Everton are reportedly in negotiations with Miami-based investment firm 777 Partners for a potential deal that could provide a much-needed boost to the club’s finances and ambitions.

MSP Sports Capital deal collapses

The talks with 777 Partners come after the collapse of a previous agreement with MSP Sports Capital, a New York-based company that had offered to invest £150m for a 25% stake in Everton. The deal, which was announced in May, would have also provided around £50m to bolster the club’s transfer budget and brought two boardroom roles for MSP representatives.

However, the deal fell through earlier this week after one of Everton’s existing lenders objected to the terms that had been agreed. According to The Athletic, the lender was unhappy with the preferential share structure that MSP had negotiated, which would have given them priority in receiving interest payments and dividends.

The collapse of the deal was a huge blow to Everton, who are facing mounting financial challenges amid the Covid-19 pandemic and the rising costs of their new stadium project at Bramley-Moore Dock. The club reported a loss of £139.9m for the 2019-20 season and had a debt of £141.7m in their latest accounts.

Everton in talks with 777 Partners for new investment amid financial woes

777 Partners back in the picture

Everton owner Farhad Moshiri, who has invested more than £500m of his own money into the club since taking over in 2016, is now looking for alternative sources of funding and has reopened talks with 777 Partners, who had previously shown interest in investing in Everton.

777 Partners is a private investment firm that has stakes in various sectors, including aviation, insurance, sports and entertainment. The firm owns stakes in several football clubs, such as Sevilla, Hertha Berlin and Vasco da Gama. It also has a partnership with David Beckham’s Inter Miami in Major League Soccer.

According to iNews, Everton are hoping to secure a deal with 777 Partners that would fill the £50m hole in their transfer budget and help them bridge the funding gap for their new stadium, which is expected to cost around £760m. The club has already secured a loan from MSP Sports Capital to support the development costs for the stadium, but still needs to find the complete financing for the project.

Everton fans frustrated with lack of progress

The uncertainty over Everton’s financial situation has added to the frustration of the fans, who have seen their team struggle on the pitch this season. The Toffees are currently two points above the relegation zone after losing four of their first five Premier League games under new manager Sean Dyche.

Dyche, who replaced Carlo Ancelotti in June, has been unable to sign any new players this summer due to the club’s limited resources and restrictions imposed by UEFA’s Financial Fair Play rules. The former Burnley boss has admitted that he has to work hard in the market and find creative ways of finding deals that can improve his squad.

Everton fans are weary of the constant cycle of speculation and disappointment that has surrounded their club in recent months. They are hoping that Moshiri can find a suitable partner that can inject fresh capital and expertise into the club and help them achieve their long-term goals of competing at the top level and moving into their new state-of-the-art stadium.

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