BLUES IN TALKS AS 777 MISS DEADLINE
controversial American investment firm’s failure to come up with the money to make the deal happen before yesterday’s deadline.
Sunday Express Sport understands that Blues’ owner Farhad Moshiri feels an obligation to maintain a working relationship with the Miami-based company after they pumped a loan of £200million into the club last season to prevent serious financial problems.
Everton’s debts are now close to £1bn when a £450m unsecured loan provided by Moshiri is added to the bottom line.
But the billionaire is now free to open negotiations with other prospective buyers – and a number of unsolicited counter-offers are already on the table.
American tycoon John Textor went public last week with his intention to formalise an approach once the deadline for 777 to complete a £550m deal had passed.
But Textor, who owns a majority share in French club Lyon, Botafogo of
Brazil and RD Molenbeek of Belgium, must sell his 45 per cent stake in Crystal Palace before he can invest in Everton.
That scenario would take months and Moshiri is reluctant to close the door on 777 despite their own crippling financial issues and pleas from supporters’ groups not to sell to a company that has allegations of fraud hanging over it in the United States.
Everton’s owner, though, can now look to strike a deal with other parties.
MSP Sports Capital, an American investment company that is one of the club’s biggest creditors, is reportedly one of those interested in making a bid.
Everton were docked eight points last season for twice failing the Premier League’s Profit and Sustainability Rules.
777 have still provided loans that have helped the club pay the wages and meet stadium construction costs.
They will now become creditors.