Toffee Ventures company set up with major Everton takeover news imminent
Merseyside businessman Andy Bell has set up a new company called Toffee Ventures as Everton takeover talks with Farhad Moshiri continue, according to The Athletic.
Matt Slater’s article [7 June] suggests that Bell – who alongside fellow local businessman George Downing is pushing to acquire Farhad Moshiri’s controlling stake in the club – has recently sold £28m worth of shares in his successful investment platform, AJ Bell.
Funding from Toffee Ventures could further help supply Everton if a deal is agreed, with the club’s debt of £225m set to fall towards Cheshire-based lender Rights & Media Funding (RMF) which is tied up in assets, helped by historical transfer instalments owed to the club and future player sales.
Everton are also indebted £200m to seemingly failed projected new owners 777 Partners, and the £158m subsidiary of Bramley-Moore Dock Stadium is owed to American firm MSP Sports Capital – who are set to rival Bell and Downing to snap up Moshiri’s 94.1%.
New group set to enter Everton bidding
The news comes as part of Friday morning’s report which claims a new investment group are said to be entering the race to buy Everton, with Moshiri set to decide on his preferred party.
The consortiums already on the table could be set for exclusive talks with the Blues owner, who is owed £450m in unsecured shareholder loans.
Moshiri publicly favoured a deal with 777 Partners and had given the US firm every chance at completing a deal having bankrolled the club throughout the 2023-24 campaign, whilst blocked by the Premier League from completing the takeover.
Then, 777 – plagued by legal controversy – failed to meet an exclusivity deadline of 31 May, leaving the field open for competitors.
John Textor – part-owner of Crystal Palace – was also prevented by the league from proceeding with an Everton takeover deal until his 45% share in the Eagles was moved on, making the Lyon owner an unlikely candidate at this stage.
Developments are continuing every hour on Merseyside.
In other news, there is a contract update on Seamus Coleman.
For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.