Interested buyers to keep their counsel going forward

05/07/2022 29comments  |  Jump to last

The investment group seeking to buy Farhad Moshiri out of his position as Everton's majority shareholder have issued a statement expressing their regret at the public manner in which their takeover bid has been covered in recent days.

Under the banner of KAM Sports, LLC and represented by former Manchester United and Chelsea CEO Peter Kenyon, the Minneapolis-based Kaminski family have been in talks with Moshiri over a reported £500m purchase of Everton, with a commitment to provide the funds to complete the £500m construction of the new stadium at Bramley-Moore Dock.

Those negotiations hit a roadblock last week when Moshiri's camp briefed the English media that, as far as he was concerned, any deal with Kenyon's group was “dead” but the Kaminskis maintain that their interest remains very much alive and that they are keen to keep discussing a takeover even though their period of exclusivity has expired.

The respective parties reportedly spoke over the phone within the past 48 hours but the word is that Moshiri's stance has not changed. Furthermore, there are believed to be two more consortia interested in buying the Blues, one from China and another based in the United States.

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“As a general principle, we prefer to conduct our business in private to create the fairest environment for those involved, and in this particular situation, to minimize uncertainty for fans of Everton,” the statement from KAM Sports read.

“It is regrettable that this has not been possible. We respectfully remain interested in acquiring the club as we believe its fans deserve nothing less than the best, and our offer to achieve this stands.

“However, in consideration of all Everton fans, we will not be making further public comments at this time."

Meanwhile, The Athletic suggest that Moshiri could be willing to sell 30% of his holdings in order to help fund the stadium build while keeping the makeup of the current Board of Directors intact, with perhaps the addition of one more representative of any new investor in the club.


Reader Comments (29)

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Jay Harris
1 Posted 05/07/2022 at
This statement by Kenyon is bound to cause a bit of tension between the two parties and it would be interesting to know why Moshiri seems to have pulled the plug.

Is it because he wants to keep control of the stadium development and its associated money-making opportunities?

Is it because Usmanov believes he can make a comeback and wants to retain the opportunity to waste more of his money through legitimate business?

Is it based on Kenwright's advice as he doesn't want to be shunted out?

Is it because the finances have been dressed up and he wants to ensure that no wrongdoing is uncovered although you would have expected that to come out in the due diligence process?

Or does he simply want a bidding war?

Michael Lynch
2 Posted 05/07/2022 at
Moshiri seems about as stable as the UK government right now. What is he playing at? It's clear Kenyon thinks he's an amateur, but then all that guff about "nothing less than the best" makes me want to kick Kenyon in the balls.

He's not one of us, he shouldn't use that phrase.

Barry Hesketh
3 Posted 05/07/2022 at
Meanwhile, The Athletic suggest that Moshiri could be willing to sell 30% of his holdings in order to help fund the stadium build while keeping the makeup of the current Board of Directors intact, with perhaps the addition of one more representative of any new investor in the club.

This is the single most irksome thing about Moshiri, he's meddled, he's been erratic, despite this, he always backs his board members, they may have good intentions but they are always likely to show up their short-comings in the cut-and-thrust of the modern game.

The clubs hierarchy needs new blood, and lots of it, not the same old faces trotting out the same old plattitudes, leading to the same old outcomes. Sell or don't sell, that's Moshiri's right, but to continue doing the same things with the same people, is stark-raving bonkers.

Ian Pilkington
4 Posted 05/07/2022 at
If he keeps Kenwright and the rest of his useless board in place, he really is totally deluded.
Brian Murray
5 Posted 05/07/2022 at
He left them in charge on good faith. As gullible and daft as he seems, surely he knows why his club is a mess. I think he's gone past embarrassing himself.
Kevin Molloy
6 Posted 05/07/2022 at
If the Athletic are right that he's looking for investors, there has to be a risk that Bill is persuaded to put back in the £40 million currently burning a hole in his pocket.
Dennis Stevens
7 Posted 05/07/2022 at
No chance, Kevin. It's taken Kenwright a long time to make some money out of the club – why, after all these years, would he actually run the risk of losing money?
Kevin Molloy
8 Posted 05/07/2022 at
Dennis I think it depends on what price the shares are offered at. Moshiri is not in a strong position at the moment, and Bill is a shrewd bugger.
Brian Murray
9 Posted 05/07/2022 at
Kevin. Really ! he’s hid it well over two decades
Ed Prytherch
10 Posted 05/07/2022 at
Who in their right mind would pour hundreds of millions into Everton with the current board members remaining in place? Moshiri is trying to attract rich fools.
Tony Abrahams
11 Posted 05/07/2022 at
Allegedly selling the club for around £500 Million, and then whoever buys the club, needs another £500 million to build the ground.

If Moshiri only wants to sell 30% of his shares to help fund the stadium, then this still leaves a massive shortfall in funds? I think this is just even more speculation, and hope that it’s resolved soon.

Dean Adams
12 Posted 05/07/2022 at
Didn't Bill promise to retire at 70?

He's 76 and still won't fulfil that promise.

Come on, Bill, retire gracefully. 🤨

Tony Abrahams
13 Posted 05/07/2022 at
Maybe he was just misinterpreted once again, Dean, because he never said what year in his seventies...

Plus nobody has worked harder to provide Everton with a new ground, so perhaps that's what Mr Kenwright is waiting for, before he retires and takes his well-earned rest?

Marc Hints
14 Posted 05/07/2022 at
Well more news is there is an interesting billionaire who wants to buy Everton.

Apparently worth a lot of billions.

Brian Murray
15 Posted 05/07/2022 at
Tony. Which ground is that? Kirkby, Walton Hall Park, or Kings Dock, lol. 😂 Some legacy.
Christine Foster
16 Posted 05/07/2022 at
Tony, Brian, Actually, they should name a stand after Kenwright, over at the women's ground at Walton Hall Park..
Joe McMahon
17 Posted 05/07/2022 at
Christine, I personally think they should name a Crematorium after Bill Kenwright.
Danny O’Neill
18 Posted 05/07/2022 at
I could be totally wrong but reading into that statement, they seem confident.

Obviously there's a bit of negotiating to be had, but they (the consortium) are talking like they mean business.

Jerome Shields
19 Posted 05/07/2022 at
This saga is going to run and run. Neither of these suggestions from the Kenyon Group or reported as Moshiri's look as they could get off the ground.

What is confirmed is there will be no unveiling in Minnesota. Moshiri seeking to sell 30% of his share to fund the Stadium does not make financial sense.

Getting a place on the board with the same continuing Board Members for such a purchase, would take some real convincing by Moshiri, given his tenure as an example at Everton.

Dale Self
20 Posted 05/07/2022 at
Not wasting much time on this but it looks like a standoff wherein Consortium thinks Moshiri is in a bad spot and needs to sell while Moshiri thinks the Consortium doesn't have their finances lined up.

So one waits for another offer and the other waits for their patience to run thin. I'd say it's going swimmingly! Bring on the fish puns just for the halibut.

Brian Murray
21 Posted 05/07/2022 at
Dale. As long as David Gill is not involved.
Clive Rogers
22 Posted 05/07/2022 at
It sounds to me that the consortium are offering a lot less than Moshiri is asking for.
Don Alexander
23 Posted 05/07/2022 at
Dale (#18), it's sharks vs pilchards as far as I'm concerned, unfortunately!
Steavey Buckley
24 Posted 05/07/2022 at
Big question, does Moshiri want to cover his losses and sell at a loss or break even or make a profit and how much profit? All the while dedicated Everton fans want to secure the financial future of their beloved football club to pass on to their children and grand children to support them as much as they do.
Bill Gall
25 Posted 05/07/2022 at
Sounds like Moshiri has thrown them back in the pool and has a line out to see who else he can reel in.
Phil (Kelsall) Roberts
26 Posted 06/07/2022 at
30% stake.

Interesting. I do believe that was the holding that Alisher Usmanov had in Arsenal when he was trying to oust Stan Kronke. Kronke refused to budge or change and Usmanov got very frustrated and eventually agreed to sell his holding to Kronke.

I wonder if any investors will be as frustrated as Usmanov when they see what their 30% stake gets them. The only benefit will be when Moshiri finally sells up and the 30% of the sale price exceed the cost of their initial investment.

Bill Gall
27 Posted 06/07/2022 at
Is he going to sell the club or not.
Selling 30% of his 94% of holdings means he still remains owner with 64% of shares..
They are just ending the exclusivity of the agreement and rumors are there are other parties involved, but there has been no word of any other consortium being interested.
The sale of shares is a private transaction and although there is a figure that represents the buying of a share ( not sure but it was around 3500 pounds a share,) - after Moshiri purchased his shares.
The cost of buying enough shares to become owner of Everton is a private negotiation fee that represents the value of the club you are buying including its debts.
Has there been any indication of other interested groups or just rumors.
Clive Rogers
28 Posted 08/07/2022 at
The takeover talks with the Kenyon consortium are over.
Michael Kenrick
29 Posted 08/07/2022 at
Certainly seems that way, Clive. It's gone very quiet after all the assurances and counter-claims.

But perhaps you've heard something new? Looks like it's something already 3 days old from The Athletic and being recycled by Paul Brown of the Daily Star.

So it's not new really if it just reinforces what appears to have been Moshiri rejecting their advances. He holds the ultimate veto, after all, and if the deal isn't good enough for him, then that's the end of the road for the Kenyon Klan.

Supposedly there are other interested parties but they are doing a better job of keeping a lid on things, if true.

I personally doubted the many claims put forward that Moshiri wanted to sell up. It's not true: he wanted funding to finish the new stadium at Bramley-Moore Dock. But as more infrastructure is completed, perhaps he can leverage against it for simple loans and still get it done without outside investors? Presumably with all the construction monies now "ring-fenced" (Eeek!) from profitability and sustainability concerns.

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