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Post by Avinalaff on May 2, 2024 17:16:38 GMT
Apparently they're borrowing money.
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Post by Everton News. on May 2, 2024 17:22:13 GMT
Another New York-based private equity firm has emerged as a potential backer for 777 Partners' bid to take over Everton which is approaching its 10th month without resolution.
According to Bloomberg, GDA Luma Capital are in discussions over the possibility of providing debt financing to 777 so that the Club can continue construction of the new stadium at Bramley-Moore Dock and also still meet day-to-day operating costs while the buyout remains unapproved by the Premier League.
GDA Luma is helmed by Gabriel de Alba, co-chair of Cirque du Soleil Entertainment Group, and if the suggestions from Bloomberg, citing people familiar with the situation, are true, they could be an alternative source of funds to Blue Owl Capital.
777 Partners were reportedly talking to Blue Owl last month about taking on a significant loan to fund the purchase of Everton and the repayment of the funds owed to MSP Sports Capital.
The Miami-based investment outfit agreed a deal last September to buy Farhad Moshiri's 94.1% stake in the Blues but they have not yet met the conditions placed on their approval to become the Club's new owners by the Premier League.
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Post by rugbytoffee on May 2, 2024 20:56:39 GMT
Nothing positive. All seems very messy.
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Post by evertonfan1968 on May 3, 2024 10:17:36 GMT
How did we end up with so much debt after having a billionaire owner?
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Post by rugbytoffee on May 4, 2024 11:08:37 GMT
A fresh report from BBC Sport on Thursday provided another update regarding the current takeover situation at Goodison Park. They state that "Everton's prospective buyers have held discussions with a private equity firm specialising in 'distressed debt' as they aim to complete a protracted takeover of the club", once again posing further questions over 777's capabilities and funding.
Potential second Everton buyer named Speaking to Football Insider, 66 year-old Wyness has now talked up the idea of a Tim Cahill-led Qatari takeover of Everton happening in the near future, in a decision that could split opinion: "Tim Cahill has been linked as the face of any potential Qatari bid. Tim has done a great job down there with the Aspire Academy and is very involved at a high level with the Qatar national team and their football plan. "If he was to get the right ear of people in Qatar, he’s a very forceful personality and has done well in business since leaving football – it could be a possibility. Qatar is not ridiculous. I think it would be well received by fans. There are obviously the political issues which would have to be resolved.
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