Skip to main content

New hope for Everton

Everton are facing the biggest losses in their history and leading football finance expert Kieran Maguire says that they have suffered from poor management decisions: Sunday Telegraph report

But there is new hope for the club with Russian billionaire Alisher Usmanov keen to get involved. He was formerly a significant shareholder at Arsenal, and still retains an affection for the North London club, but is prepared to help his business partner Farhad Moshiri at Everton. Mr Moshiri is executive chairman and a shareholder in Mr Usmanov's holding company, USM. Mr Usmanov has a fortune of $16bn from a variety of enterprises, but is far less reliant on resource extraction than many Russian businessmen.

Mr Usmanov revealed his intentions over lunch with the head of the Moscow bureau of the Financial Times. Although the interview seems to have been somewhat tense at times, Mr Usmanov was open about his intentions. He felt he could achieved something at Arsenal, but it became clear that the majority shareholder, the controversial 'silent' Stan Kroenke, did not want to work with him.

Given their history, and their role in the formation of the Premier League, Everton regard themselves as a top club, but translating that aspiration into reality has been challenging at times.

He made it clear that he did not necessarily intend to participate directly. He could be a shareholder or a sponsor. The iconic new stadium could be the USM Stadium after the name of his holding company. Mr Usmanov told the Pink 'Un: 'Everton is the club of my friend, my brother. So of course in a manner I am [already] linked to it.

John Blain, a representative of small shareholders in the club said that a move by Usmanov would be welcomed: 'Farhad is a wealthy man, but it does not compare to Alisher.'

Evidence of his good intent is that he brokered the deal to bring Carlo Ancelotti to the club as its new manager.

Labels:

Comments

Post a Comment

Popular posts from this blog

Fulham requires big funding from owner

After lengthy delays, Fulham’s shiny, new Riverside Stand has finally opened, creating “a unique Thameside destination with first class facilities for supporters and partners on match days, as well as for the wider community year-round”. This ambitious project has increased Craven Cottage’s capacity by around 4,000 to 29,600, while it has also taken advantage of the club’s fantastic location and wealthy catchment area by including two Michelin star restaurants, a rooftop swimming pool, corporate hospitality and event space, all benefiting from views of the Thames. Chief executive Alistair Mackintosh observed, “Fulham is the sort of club that can have a business class or first class and have fans that turn left on a plane.” Indeed, there is also an exclusive members club – with a football season ticket as an optional extra. It’s fair to say that “the times they are a-changing”, as this is a long way from the traditional pie and a pint. However, in a world where clubs face the tw...
Post a Comment
Read more

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s...
1 comment
Read more

It's no deal say Spurs insiders over Taiwanese takeover

Senior figures at Tottenham Hotspur insisted on Friday that they had not been informed of any deal to sell Daniel Levy’s stake in the club. A business group, Eight Sports Capital — which is said to include a billionaire Taiwanese financier — claimed that it had an agreement in place to buy a 24.99 per cent stake in ENIC, the club’s majority owners, from Levy, who owns 29.88 per cent. The Times has been told Ng Wing Fai and Brooklyn Earick form part of the group, having both been linked previously to potential takeovers of the Premier League club. The Taiwanese businessman, Richard Tsai, is also said to be part of the consortium. He is reportedly worth £7 billion.  Last year Earick, the former DJ and tech entrepreneur, was part of an attempted £4.5 billion takeover, which was “unequivocally rejected” by Spurs.  An ENIC spokesperson said: “We can confirm that neither ENIC nor THFC are aware of any sale by Daniel Levy’s Family Trust of its minority stake in ENIC, THFC’...
Post a Comment
Read more