24 August 2023 , 09:21
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Everton have suffered yet another financial blow after a United States investment firm walked away from a deal to buy a 25 per cent stake in the Toffees.
Sean Dyche's side have made a poor start to the Premier League season, having suffered back-to-back defeats against Fulham and Aston Villa. They have failed to score a goal and currently sit 20th, with a bottom-of-the-table clash at home to Wolves to come on Saturday.
But, despite losing their opening two top-flight matches, affairs are looking even bleaker off the pitch at Goodison Park. According to the Daily Telegraph, Farhad Moshiri's attempts to sell a potential 25 per cent stake in Everton has collapsed at the 11-hour in fresh misery for the finance-stricken Toffees.
MSP Sports Capital has walked away from an agreement after being told it would have to pay off an existing lender. As per the terms of a prior deal which was led by Everton, Rights and Media Funding Limited, they demanded "high tens of millions" before any money from MSP could even go into the club.
The current borrower's demands could pose a problem for future investors as Everton aim to seek a new partner. MSP has not fully pulled out of financing in the Toffees, however, as they have instead handed a £100million loan which will support the construction of Everton's new stadium at Bramley-Moore Dock.
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Everton are set to move into their new ground ahead of the 2024/25 season, although work had been paused for just over a week after the tragic passing of Michael Jones. The 26-year-old was rushed to Aintree Hospital after being injured on the site but died shortly afterwards.
Everton boss Sean Dyche (Getty Images)Work resumed on Wednesday as the Toffees aim to get the stadium ready for next season. Dyche will be aiming to avoid any scare of relegation, especially after last season's final-day escape, but fears of the drop are already high after spending less than £15m in the summer transfer window.
Youssef Chermiti is Everton's most expensive recruit so far at around £10m, while Arnaut Danjuma, Jack Harrison and Ashley Young make up their three other major arrivals. Everton fans are concerned about the team's failure to recruit adequately over the summer, and, with a financial fair play (FFP) hearing looming over their shoulders, the Toffees may not be able to spend much more money before the September 1 deadline.
Everton are preparing to appear before an independent commission on October 25 over alleged FFP breaches, although executives are confident they are compliant over changes. However, Toffees fans are running impatient with the club's current regime and have previously forged many protests outside Goodison Park.