Following recent developments, Everton has been able to “considerably” lower the sum due to Rights and Media Funding Ltd [RMF,” according to The Athletic.
The debt owing to the long-term Toffees creditor has decreased to around £150 million, according to Matt Slater via the outlet’s website on September 13. This is less than the sums owed to The Friedkin Group and 777 Partners, who each contributed over £200 million.
Everton has been able to pay off a portion of the RMF as anticipated thanks to the arrival of scheduled transfer fee payments. The Cheshire-based firm seems content to “sit tight” and reduce their exposure gradually, so there isn’t a “pressing need” to pay off the remaining debt.
While the money owing to 777 is complicated by their financial and legal difficulties, John Textor is trying to purchase the club from Farhad Moshiri and will need to pay Friedkin’s £200 million immediately if he succeeds [The Athletic, July 20].
John Textor has agreed to cover Everton debt
A decrease on the RMF loan may seem insignificant given the club’s overall debt, which is still over $1 billion. However, it should be noted that Moshiri is officially due over £450 million, which he “knows he is never seeing again.”
In light of the fact that the Toffees’ finances have been a constant cause of worry in recent years, it is a good development that their debts have finally decreased.
According to reports, Textor has consented to pay Moshiri up to £50 million for his shares in exchange for the club meeting its debt commitments to lenders [Guardian, 10 September].If the American can complete his transaction, the reduction in the amount owing to RMF should save him almost £50 million. However, he still needs to take the crucial step of selling his Crystal Palace shares.
Despite his readiness to talk about the buyout publicly, Textor’s actions are creating some uncertainty because there is evidently still a very complex financial picture at Everton.
However, the club’s current financial situation is somewhat improved by the rare bit of good news—the decrease to only one important debt.
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