Everton enter exclusivity agreement with MSP

Everton have reached an exclusivity agreement with New York-based company MSP Sports Capital for investment in the club.

Reports have suggested the deal is not yet done but talks are progressing over funding.

MSP looks to have jumped ahead of 777 Partners, which had been in talks over a takeover from owner Farhad Moshiri.

The club require funding for their new stadium, being built on Bramley Moore Dock, after costs increased from £500m to about £760m.

And in their latest accounts, the club posted financial losses for a fifth successive year. Their losses have totalled more than £430m over that period.

MSP is believed to be looking for a 25% stake with a preferential share structure, not equity in the club, so would be paid back in interest.

777 has had access to the 'data room' (financial accounts), but has not been prepared to pay a 'significant' price owing to the debt on the balance sheet - which stood at £141.7m in the latest accounts.