GOODISON NEWS 🔵 Everton tax implications emerge on debt in takeover update – Shango Media

GOODISON NEWS 🔵 Everton tax implications emerge on debt in takeover update

Farhad Moshiri’s shareholder loans at Everton could be subject to “tax implications” with the club facing significant third-party debt, according to The Esk.

The Toffees fan site posted a blog discussing the immediate requirements for whichever party succeeds Moshiri as the club’s majority shareholder, with debt being the biggest issue of all to tackle.

The Esk said £580million worth of interest-bearing third party debt will remain if and when Moshiri’s current loans are written off or capitalised, but that process could also have tax implications for the Iranian businessman.

The Esk’s report added that MSP Sports Capital, whose £158million loan to the club was one of the reasons that saw 777’s takeover bid come unstuck, have secured the majority of that debt alongside Rights and Media Funding.

Everton debt biggest challenge for Moshiri successor

Everton facing almost £600million in third-party debt is a huge obstacle for their new ownership to tackle if and when Moshiri’s 94.1 per cent shareholding in the club is bought out.

777 Partners agreed a share purchase agreement back in September 2023, but they ultimately were unable to prove to the Premier League they could meet its conditions – including repaying the loan to MSP – after nine months of elongated talks between themselves, Moshiri and the Premier League [Tariq Panja].

Everton Bramley Moore Dock Stadium
Everton’s new stadium at Bramley-Moore Dock is in line to cost £760million before completion.

While it’s expected that the more credible new bidders interested in purchasing the Toffees are more likely to satisfy the league’s owners and directors’ tests, Moshiri seems no closer to deciding who will succeed him in the owners’ chair [Keith Wyness].

It’s clear that bids such as that of George Bell and Andy Downing have the financial backing to saddle and deal with the significant level of debt they’d inherit at Goodison Park [The Telegraph], but it’s now up to Moshiri to select – ideally in a quick fashion – his successor.

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Until that happens, Moshiri’s reign will continue, doing little to ease Everton’s precarious financial situation.

In other Everton news, the Toffees may need to sell Dominic Calvert-Lewin to seal a new transfer.

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