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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.

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