Majority shareholder Farhad Moshiri has reportedly reached an exclusivity agreement with MSP Sports Capital over investing in Everton.
Moshiri has been seeking fresh capital to be injected into the Toffees for several months, with the club posting losses of more than £400 million over the past four years.
Certainly, news of new funds possibly arriving will please Everton fans. But who are MSP Sports Capital? Here’s all you need to know.
Who are MSP Sports Capital?
MSP Sports Capital is a NewYork-based company that’ invests in sports teams, leagues, and businesses in the sports ecosystem that are pursuing ambitious, challenging tasks’.
Its website says that ‘the strength of our network and experience is unmatched, with our partners generating over $2 billion of value over 20+ years’.
Who is involved?
Jahm Najafi operates as chairman of MSP. He is an Iranian-American businessman who founded the private equity firm Najafi Companies in 2002. Najafi serves as vice-chairman for the NBA side the Phoenix Suns, as well as serving as a governor on the NBA board, and is also vice-chairman of McLaren Racing.
Jeff Moorad, meanwhile, is the chief executive of MSP. He is a former sports agent before investing in MLB team the Arizona Diamondbacks in 2004.
In 2009, Moorad led a consortium that completed a takeover of fellow MLB outfit the San Diego Padres. After becoming CEO, he sold his shares in the Diamondbacks in 2011 and the consortium that completed a purchase of the Padres held shares of 49% in the California-based team. The Padres were sold in 2012 for $800 million - some $300 million more than Moorad’s 2009 purchase.
The pair, along with Crystal Palace part-owner David Blitzer, also own Bolt Football Holdings. Najafi and Moorad were at Goodison Park in January to watch Everton’s 2-1 loss against Southampton.
What sports teams are on their current portfolio?
MSP already have investments in several sports team. In December 2020, the group paid £185 million for a 33% stake in Formula On team McClaren.
They also have shares in several football clubs. They include Bundesliga side Augsburg, Spanish outfit AD Alcorcon, Portuguese club G.D. Estoril and Belgian team Beveren.
MSP are also the majority shareholder of X Games, having purchased a controlling stake of the extreme sports franchise from ESPN in October 2022.
How much are they worth?
According to Paddock Magazine, Najafi had a net worth of $3.5 billion in 2021.