New York-based investment fund MSP Sports Capital is edging closer to a minority stake in Everton, according to sources familiar with the matter.
MSP have been in discussions with Everton over acquiring a stake in the club for several weeks with billionaire co-founders Jahm Najafi and Jeff Moorad, along with vice president Peter Taylor, in attendance for the home defeat against Southampton back in January.
A renowned sports investment firm with stakes in the McLaren Formula One team, extreme sports competition 'X Games', and football investments in football clubs including German side FC Augsburg, G.D. Estoril Praia in Portugal, Spain’s AD Alcorcon and Belgian side SK Beveren, MSP had been, according to the Financial Times, been lining up a £3.1bn takeover move for Tottenham Hotspur last month.
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That deal was reported to be led by Najafi, who has remained a part owner of the Phoenix Suns NBA team despite their $4bn sale recently, with support of MSP and other parties, including investors from Abu Dhabi.
US financial sources told the ECHO that the focus has remained on Everton throughout the process and that a move for Spurs was one that was not on the agenda, with MSP seeing greater value in a minority stake in Everton and aiding both the recapitalisation of the business and helping with funding for the remainder of the stadium build, something they are understood to see great value in moving forward.
Spurs chairman Daniel Levy and owner, ENIC’s Joe Lewis, are not understood to be willing sellers and any £3.1bn move would fall well below where they see the value of the club given the £1bn asset that they have with the stadium, arguably the most cutting edge in world football.
The Spurs/MSP rumour mill took another twist on Friday when Najafi and Moorad were pictured with Levy in Bahrain ahead of Sunday’s F1 opener in the Gulf nation.
However, sources have told the ECHO that the meeting between the three was not related to a potential takeover of the North London club and instead focused on the new 15-year partnership that Spurs have inked with F1 which will see an electric karting track built under the stadium.
Levy had been a guest of F1 bosses for the first race of the season after the announcement of the partnership, with Najafi, in his position as vice-chairman of McLaren, there for the curtain raiser.
Talks with Everton are understood to be at an advanced stage with MSP, with any successful deal likely to see at least two board seats handed to the US firm whose modus operandi with their sporting investments is to have a significant operational control and influence.
While Farhad Moshiri would retain a controlling interest in the club, adding additional expertise onto the board is something that the Everton owner has been keen to do in order to open up new opportunities and remove some of the burden that has weighed far heavier in recent years.
Selling a minority stake would also allow Moshiri a potentially easier exit plan should he wish to do so in the coming seasons, with any sale of a minority stake likely done so to a partner that would be in a position to accrete their stake into full ownership over time.
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