Everton takeover latest: 777 Partners face fresh obstacle after MSP claim made

Everton’s potential new owners 777 Partners have significant hurdles to clear if they are to acquire the club.

The Miami-based firm reached an agreement with Everton owner Farhad Moshiri on Friday to purchase his 94.1% shareholding in the struggling outfit. But as well as having to gain regulatory approval from the Football Association, the Premier League and the Financial Conduct Authority, an agreement must be reached with the club’s existing creditors.

Major lenders to the club, Rights and Media Funding Limited (RMFL) and MSP Sports Capital, were reported by the Mail on Sunday to be considering calling in their loans to the club through the Change of Control clauses said to exist in the legal framework of their deals with Everton.

RMFL have loaned the Blues more than £150m in recent years, according to reports, while New York-based MSP, who had been in talks to acquire a 25% stake in the club earlier in the summer only for RMFL to block the deal due to being unhappy with some of the aspects of it, loaned the holding company for the stadium development at Bramley-Moore Dock £100m to allow work to press ahead.

What 777 Partners must now do to complete Everton takeover

Everton supporters deserve clarity on takeover that only 777 Partners can provide

Change of Control clauses are commonplace in business, with such clauses agreed so as to protect the interests of, in this case lenders, should they not feel that the change in ownership represents a good fit for them and their team. Change of Control provisions are agreed between parties beforehand where it must be determined under what circumstances the seeking of a termination of the agreement would arrive.

It has been indicated that RMFL would not object to the 777