MSP Sports Capital are reportedly weighing up whether to make a fresh offer to buy Everton as 777 Partners' deal appears to be on the verge of a collapse.
Earlier this week, Everton owner Farhad Moshiri engaged in conversations with Josh Wander, co-founder of 777 Partners, seeking answers about the Miami-based group's ability to complete the agreed purchase. This came after allegations of fraudulent activities emerged against them from civil court filings in New York.
The latest claims come from London-based Leadenhall Capital who allege non-payment of debts by the firm and its subsidiaries. They charge that 777 used collateral that either «did not exist» or was not legally possessed by entities under Wander's control.
The same week it was revealed that players of Belgian side Standard Liege, a club in 777's football portfolio, were allegedly not paid this month. As a result, Moshiri sought talks with 777, confirmed by sources, and was on the verge of cancelling the deal agreed back in September, which had been delayed due to lack of Premier League approval.
In March, the Premier League gave conditional approval for 777 to take over, provided four conditions were met. These included: converting 777's loans to the club, now exceeding £200m in junior debt, into equity; requiring funds in an escrow account to meet financial obligations for the rest of the season; proof of funding for the completion of the new stadium; and repayment of a £158m loan to MSP, the New York firm that lent Everton money last year for the stadium build, reports the Liverpool Echo.
The loan from MSP was due on April 15, with 777 having to convince MSP to extend the loan repayment. The firm reluctantly agreed, although the extension was said to be
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