After the end of an exclusivity window, Everton, a Premier League (PL) team, resolved not to pursue additional acquisition negotiations with a party managed by Peter Kenyon. Farhad Moshiri, the team’s proprietor, had spent so long looking for funding for Everton’s proposed £500 million stadium.
A stake in the team was discussed by the party, which also included investors from the United States and was chaired by the erstwhile chief executive of Manchester United and Chelsea, Kenyon.
Everton chose to move on this time. But talks are still going on, according to a source close to the Kaminski family, which planned to contribute the majority of the financing.
It’s unclear if the consortium, which also includes the American investor John Thornton, is still keen on contributing to the stadium’s funding.
According to reports, Moshiri remains dedicated to the team and the construction of the sports complex at Bramley-Moore Dock, anticipated to open in 2024. In an open letter to fans published in May, Moshiri, who paid UK£200 million (US$242 million) for Everton in 2016, stated that he was ‘dedicated to safeguarding the long-term prosperity of the club’. The 67-year-old increased his shareholding to 94 per cent in January and then pledged an additional UK£100 million (US$121 million) to the club.
Alisher Usmanov, a Russian billionaire, was blacklisted as a result of the invasion of Ukraine, in addition, Everton also lost £372 million over the past three seasons. The team also cancelled negotiations with Russian partners who were managed or partially operated by Usmanov.
The team had terminated numerous sponsorship agreements and was in talks to find fresh funding.