As have 777 and R&M by lending us money.
If I were MSP I would:
1. Definitely be interested in owning a PL team. Having failed with their bid to buy Spurs (showing they are pretty serious about owning a PL side) then Everton would represent a big opportunity. Brand new stadium, established in the division, playing squad with saleable assets but a core XI that doesn’t need replacing. Only problem is the debt.
2. Be briefing anyone and everyone that I’m willing to end up owning a stadium that nobody plays in if the current creditors try to play hard ball with me.
Ultimately it’s now come down to a big game of chicken and MSP will want to put lots of pressure on RMF to take a haircut. They do that by making it known how uninterested they are in taking full ownership.
So with that in mind, any and all good evertonians should be spreading rumours that MSP aren’t interested in buying.
With people closely involved in the EFC situation, one as a reporter/observer, one working to try to bring a consortium together and another working for a lender. I cannot break confidences but:
1. There is no seriously rich interested buyer and MSP seriously do NOT want to step in. No Qataris. No funded US buyer (just another chancer).
2. The only possible consortium right now is some Evertonian names well known to us (through involvement with MSP or wider public profile) but they are well short of being able to make a bid. Even if they can it will be at best a short-term bridging move as they try to restructure and find the elusive longer-term buyer
3. MSP (perhaps because they are American) do not yet fully understand the risks of relegation, UK liquidation etc. They might be getting there slowly but do not seem to understand or want to accept that their stadium security is worthless unless Everton is a going concern in the PL. They do not want to be the one to push us over the edge but do not seem to realise they could easily lose everything. If they ever do get there maybe option 2 will become viable with their support. IF!
4. R&MF have the strongest income security and will not consider taking a haircut on loans or reducing or deferring interest - unless and until the doom clock strikes 11.59.
This all means IMO there is no path forward until:
1. MSP recognise security on stadium is worthless unless Everton are a going concern; no club, no value; and
2. R&MF recognise much of their debt will never be repaid; both a US marine style haircut & lower interest rates are needed to stabilise long-term finances
Right now neither get/accept this analysis so this summer we will be selling players (multiple) to pay final stadium costs, cover operating costs and maybe trim the R&MF loan a touch. It will require miracles from Thelwell, Dyche et al to keep our heads above water. Kicking the can down the road.
Will we survive in PL? I have no idea but I am more worried tonight than I was last night and I was mildly terrified last night. Unlike eg TheEsk I do not think we would emerge from administration without liquidation sending us to AFCEverton at eg Tier 8-11.
Sorry to be the grinch but bad though the last two years have been we are nowhere near turning a corner, at least not in any positive way.
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