Skip to main content

Minority investment at Everton?

A story in The Guardian claimed Farhad Moshiri is willing to sell Everton for £500million ($620m) and has instructed Deloitte’s sports business arm to handle the process: https://www.theguardian.com/football/2023/jan/24/everton-for-sale-farhad-moshiri-asking-price-more-than-500m

Around 20 minutes later, the club released an interview with Moshiri in conversation with fan advisory board (FAB) chair Jazz Bal, recorded before Saturday’s 2-0 defeat to West Ham United, in which he insisted he does not want to sell.

“The club is not for sale but I’ve been talking to top investors, real quality, to bridge a gap on the stadium finance,” Moshiri said. “I can do it (finance the new stadium) myself but the reason I want to do it is to bring top sport investors into Everton — for some of the reasons the fans want: improvement, more talent.

“I’m committed to this club, not just the stadium, but to join the elite. We are close to having a deal done. We are very close to stadium financing and I hope to be able to announce that to you soon. It’s not selling the club at all.”

It was revealed in June that Moshiri entered into discussions with US consortium KAM Sports, helmed by Minneapolis-based property developer Maciek Kaminski, last year with a view to securing stadium funding but those talks developed into a full-blown takeover proposal. The group is believed to have valued Everton at around £500million.

Moshiri himself lost faith in the group’s ability to complete a takeover and talks ended abruptly. There has been little prospect of a deal being resuscitated. Last month, KAM Sports completed a takeover of Greek top-tier side Panetolikos.

The frontrunner fot equity investment is a group that already has holdings at other football clubs, and a significant holding in a different sport. Should the deal get over the line, the group wants a representative with a seat on Everton’s board.

A consortium based in the north west of England has contacted Moshiri to register interest in a smaller investment and another US-based group of wealthy individuals, including Everton supporters, are also considering an offer.

Labels:

Comments

Post a Comment

Popular posts from this blog

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

Reports about Charlton sale exaggerated

Reports have appeared in The Guardian and elsewhere that Charlton has been put up for sale. Richard Cawley is an authoritative local journalist who runs a South London Sport substack site.  He reached out to the club yesterday evening to ask for comment on The Guardian’s article. Early indications from the club have been that nothing has changed since the story about them seeking investment, except that it is now a different company doing it. Charlton have since managed to consolidate their place in the Championship, avoiding an instant return to League One, with their women’s side promoted to the WSL, returning to the top flight for the first time since 2007, although staying there is likely to be costly. It would be counter-intuitive for owners Global Football Partners not to progress the club when looking for investment, that the focus remains on driving it forward, that their spend this summer is in line with long-term planning and will see an increase in wages spent on players...
Post a Comment
Read more

Hull City's 'strange' loan

When football finance guru Kieran Maguire seems flashing lights in a club's loan deal, I become concerned.  He is the leading football finance expert in the UK. Hull City have borrowed £55m against their stadium and training ground yet they should get £30m from the Premier League before long.  What is going on? https://www.bbc.co.uk/sport/football/articles/cpwel48y51do
Post a Comment
Read more