Ex-Everton employee: Debt to MSP has increased as update emerges on £158m loan

Bryan King claims Everton will owe MSP Sports Capital more money after an update emerged on their £158million loan.

The ex-Goodison scout believes the debts at the club are only going up.

It comes after a report from iNews (31 May) revealed that Farhad Moshiri has agreed to extend the repayment deadline on the £158million loan owed to MSP.

But King – speaking exclusively to Goodison News – feels this will be costly in the long term.

“If he has managed to push back the deadline then well done him,” King said.

“But the debts are only getting bigger. By delaying the repayment, it is going to cost the club more in interest.

“Of course, MSP will be happy to push the deadline back because it is going to cost Everton more money.

“Where are they going to get the money from to repay these loans?”

Farhad Moshiri must get things in order at Everton

Moshiri was clearly banking on a deal with 777 Partners going through.

He fought tooth and nail to get that across the line and he is now back at square one.

It leaves him in something of a financial predicament.

He now has no choice but to take on Everton’s debts once again.

Delaying the MSP repayment is understandable, but it is only a short-term solution for a big long-term problem.

Moshiri needs to start coming up with more long-term solutions and coming up with them quickly.

In other Everton news, an investment claim has emerged as a takeover timeline is mooted.

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