The MSP repayment is a condition of their loan so that is unavoidable. Loan to equity is something PL and EFL has imposed previously and it mitigates short-term interest costs. If you cannot fund the club to the end of the season and prove you can fund the stadium then you have no place buying the club in this situation. Boehly had to meet escrow and other conditions with Chelsea but because he was loaded nobody focused on it.
These really are not very unusual or very strict requirements. PL could have required a working capital proof beyond this season and could have required proof they could refinance the Rights and Media debt at lower interest rates. They have only (reportedly) imposed the absolute minimum conditions to complete the deal, this season and the stadium build.
Josimar does seem to have an agenda against 777 so it’s not surprising he is still basically saying they won’t afford to buy.
To be honest I can’t imagine many buyers sticking to those conditions.
Which look nigh on impossible to meet.
Key part:
Josimar has been told by multiple sources with sight of the Premier League’s official letter that the four main conditions are conversion of loans by 777 totalling just over 150 million pounds into equity, funds into an escrow account to keep the club going for the rest of the season, proof of funding to complete the new stadium, and repayment of MSP’s 158 million pounds stadium loan by mid April. These are not the only conditions. But they alone mean that the total extra funding still required by 777 to complete the purchase is well over 300 million pounds, before you even take into account the price agreed with Moshiri for his shares, which Josimar understands to be just 64 million pounds up front, rising potentially as high as 130 million pounds if a series of milestones are met.
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