Everton are ‘better off’ for snubbing 777’s £600m takeover deal in favour of MSP Sports Capital’s minority investment offer.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that it was ‘absolutely critical’ for the Toffees to choose the right investors.
Everton were on the lookout for investment this summer following the club’s poor financial results and the need for stadium financing.
The Merseyside club eventually signed an exclusivity agreement with MSP Sports Capital to provide a minority investment in the club, opting to snub a £600million takeover offer from American investment fund 777 Partners.
Football Insider revealed on 23 June that Everton are set to receive £130million in investment from their partnership with MSP.
Since Everton accepted MSP’s offer, it has been reported that 777 face accusations of ‘fraud’, ‘extortion’ and ‘predatory lending’ among others.
Maguire believes Everton needed a ‘safe pair of hands’ to help fund the stadium and were therefore right to choose MSP’s offer.
“Everton are significantly better off by not going down the 777 route,” Maguire told Football Insider’s Sean Fisher.
“There are too many stories and links to unsavoury issues with regards to that organisation.
“MSP might be viewed as the slightly less glamorous and more corporate option in terms of its structure, but that is probably what Everton needs at present.
“They have been on too much of a rollercoaster financially in recent years and a safe pair of hands is absolutely critical.
“They need a safe pair of hands to deliver the new stadium and restore the club as a competitive Premier League club both on and off the pitch.“
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