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

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

Gold standard ground boosts Tottenham's income

The gold standard in European football grounds is the Tottenham Hotspur stadium in north London, a £1bn construction project completed in 2019. Its impact on the club’s finances has become increasingly clear as the effects of the pandemic have faded. Previously, the average fan would spend less than £2 inside the ground on a typical match day, but now that figure is about £16, thanks to new facilities including the longest bar in Europe and an on-site microbrewery. Capacity has gone up from 36,000 at the club’s previous home of White Hart Lane to 62,000.  The new stadium — built on land adjacent to White Hart Lane — has opened the door to a broad range of other events that have helped to push commercial income up from €117mn in 2018 to €215mn in 2022. Last year, Tottenham hosted US singer Beyoncé for five nights on her global Renaissance tour, two NFL matches, as well as rugby games and heavyweight boxing bouts.  Money brought in from football has gone up too. Match day income is
Post a Comment
Read more

Spurs to sell minority stake

Tottenham Hotspur is in talks to sell a minority stake in a deal that could value it at up to £3.75 billion and pave the way for Joe Lewis and his family to sever ties with the Premier League football club. Tottenham chairman Daniel Levy is seeking an investment that values the club at between £3.5 billion and £3.75 billion, including debt. While the terms of any deal have not been finalised, City sources expect Spurs to sell about 10 per cent. The club is being advised by bankers from Rothschild on the sale. Tottenham wants to raise fresh capital for new player signings and to help fund the development of an academy for its women’s team, as well as a 30-storey hotel next to its north London stadium. The financier Amanda Staveley, who brokered the deal for Saudi Arabia’s Public Investment Fund to take over Newcastle United, is understood to be among the parties to have expressed an interest in Tottenham. Staveley’s fund, PCP Capital Partners, has raised about £500 million to depl
Post a Comment
Read more