Simon Jordan reacts to ‘doomsday’ Everton verdict live on talkSPORT after investment blow
Simon Jordan has questioned suggestions Everton are facing a “doomsday” scenario after MSP Sports Capital withdrew from investment talks with the club.
The Athletic‘s Matt Slater reported on Wednesday [23 August] that the American firm had left talks to take a minority stake in Everton, three months after agreeing an exclusivity arrangement with the Toffees.
However, amid claims that Everton could be in financial turmoil due to the costs of funding the building of their new stadium at Bramley-Moore Dock, with Financial Fair Play sanctions a possibility, Jordan insists that view is over the top.
Speaking on the White & Jordan show on talkSPORT [6m 12s], he said: “Why do people assume it’s doomsday?
“Everton might get a Financial Fair Play sanction, just like lots of other clubs – Liverpool have had it, Bournemouth have had it, Leicester have had it, Manchester City clearly have had it.
“Maybe MSP, who had security, suddenly think Everton are at real risk of going down. They want to tighten up their deal and make sure their security is protected.
“I don’t think it’s ideal, but I don’t think it’s doomsday.”
Mounting problems
MSP had been expected to invest up to £150million in convertible debt into the Toffees, which would have helped with the development of their new stadium, but that deal is now off the table.
Instead, MSP will complete a £100m loan towards the stadium company.
As Jordan said, it is not quite a disastrous scenario as far as Everton are concerned, but it is far from ideal.
Indeed, with supporters growing increasingly restless following a poor start to the campaign and constant disappointment in the transfer market, this is just another problem for the Toffees’ hierarchy to deal with.
Other suitors may be waiting in the wings ready to invest in the Merseyside outfit, but fears of a relegation scrap will surely make them think twice. After all, they are not a charity and will want a return on any money invested.
Despite the latest development, it has seemingly not put the club off making moves for various targets, with offers now tabled for both Che Adams and Beto [The Express].
For now, though, a dark cloud continues to hang over the club both on and off the field.
In other Everton news, Alan Myers has provided his take on the situation at Goodison Park.