Farhad Moshiri cannot or will not fund Everton now - but he still has one final job

Farhad Moshiri either cannot or will not fund Everton Football Club any longer. Whichever it is, the outcome is the same.

We are a week on from the announcement that Moshiri, Everton’s majority shareholder since 2016, and Miami-based 777 Partners had reached an agreement for the US ‘alternative investment’ firm with stakes in a number of failing football clubs to acquire Moshiri’s 94.1% stake in the club.

Even in Everton terms it has been a pretty bleak week, with concern over the requirement for a £20m interim loan from the prospective new owners of the football club to provide short-term working capital. Then there has been the see-sawing between whether the likes of MSP Sports Capital and Rights and Media Funding Limited (RMFL), Everton’s two biggest creditors, would seek to call in their loans early.

My understanding of the situation is that while the deal with RMFL has clause relating to a change of control that would allow them to call in their debt, some £200m in Everton’s case, that isn’t their intention and it is a conversation that has been had. With regards to MSP, they don’t have that clause and couldn’t block the deal if they wanted to, which it isn’t suggested they do. Sure, they could seek to get the loan back but to what end? They would need to pay and would miss out on the interest on the loan that will be worth a lot of money to them.

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I initially wrote something around the need for answers, for clarity over every minutiae of detail around the 777 deal. The reality is that we aren’t going to get that. These are complex financial