Season › 2022-23 › News Talks revived between Kaminski and Moshiri Lyndon Lloyd 29/09/2022 42comments | Jump to last updated Farhad Moshiri has reportedly returned to the negotiating table with Maciek Kaminski and is in advanced talks over either the sale of Everton FC outright or the Minnesota-based real estate mogul taking a stake in the club.According to the Financial Times and corroborated by Matt Law of The Telegraph, Kaminski has managed to maintain a dialogue with Moshiri since an initial approach by a consortium headed up by Peter Kenyon to purchase Everton for £500m failed over the summer.The report today suggests that Kenyon is no longer involved and that Kaminski is hoping to complete a £400m buyout of Moshiri's majority stake himself but a later report by The Guardian has it that the two parties are hoping to thrash out a deal where the Polish-American provides funding for the stadium at Bramley-Moore Dock and takes a minority stake in the club.“The structure of the deal is complex and and prevailing market conditions have complicated matters but a source close to the negotiations said there was a high chance an agreement would be struck. The percentage of Everton to be bought by Kaminski remains under discussion,†write Will Unwin and Andy Hunter. Article continues below video content Kaminski and his family were the main financial players bankrolling the initial takeover offer that came to light in June and they were hopeful at one stage of having a deal in place under the banner of Kam Sports, LLC. by the time the Blues visited Minnesota in July.Those talks came to nothing and Moshiri would later issue a statement that he was not looking to sell Everton but there have been suggestions that talks have continued in the background ever since. Perhaps emboldened by Sterling's recent crash in valuation against the US Dollar – at £400m, it would cost $70m less to buy the club today than it would have in June – Kaminski appears once again to be testing Moshiri's resolve.According to both Law and the Liverpool Echo's business correspondent, Dave Powell, an agreement is not thought to be imminent and no new paperwork has been submitted. Reader Comments (42) Note: the following content is not moderated or vetted by the site owners at the time of submission. Comments are the responsibility of the poster. Disclaimer () John Otway 1 Posted 29/09/2022 at 18:08:45 Well, there had better be more behind him than his reported personal worth of $50 million or there's going to be some serious Glazer-style leveraging going on! Will Mabon 2 Posted 29/09/2022 at 18:13:48 Not liking this at all. Mike Hayes 3 Posted 29/09/2022 at 18:21:05 Don't like the sound of this... but, if it gets shut of Kenwright, it's not going to be all bad. 😳🙠Kunal Desai 4 Posted 29/09/2022 at 18:31:37 Anyone's better than those leeches in Kenwright and Barrett-Baxendale. Just need to see the back of those two. Kevin Molloy 5 Posted 29/09/2022 at 18:35:26 So long, Bramley-Moore Dock. Unless it's scaled down to a plastic matchbox. This is all Bill's fault. He should never have sold up to gangsters. The new guys don't have any money, but will be relying on their shrewd business brains to keep us up, with any actual money earned going straight into their sky rocket. If it doesn't work out and we go down, no harm done, sell everything and move on.Pardon my french, but 'we're fucked.As Jeremy Irons says in Margin Call: 'This is it!' David West 6 Posted 29/09/2022 at 18:42:11 Glazer-style leveraging is not an option for Everton. We are not on the same level as Man Utd. They have managed to take millions from the club while still spending 100s of millions on players, as their off-field sponsorships and partnerships dwarf any of Everton's. If that is the model he's going for, it's seriously damaging to the club and he should be run out of town. Does sound like Moshiri is getting that 7-year itch now. 𧹈M to buy the club. But how much is needed to finish the stadium? Another 𧶲- 300M? I'm not sure if the stadium makes us more attractive while half finished or less attractive until it's finished? Someone with more knowledge of the facts, like Paul the Esk may need to shed light on these issues, as we get no real updates on the finances of the stadium from the club. Danny O’Neill 7 Posted 29/09/2022 at 18:56:03 I guess Moshiri is on his way out. With new ownership, they will surely bring in their own board members? Geoff Lambert 8 Posted 29/09/2022 at 18:59:30 It was always going to happen when the Russian money went south.Let's hope there is more than one interested party. Brian Murray 9 Posted 29/09/2022 at 19:09:31 Danny, hope springs, eh? Dennis Stevens 10 Posted 29/09/2022 at 19:14:47 Moshiri may well be better off waiting for the Arabs to step in, which probably won't happen until the new stadium is complete. Rob Halligan 11 Posted 29/09/2022 at 19:16:41 I doubt very much that Moshiri will sell up, not until the new stadium at Bramley-Moore Dock is completed anyway. Brian Harrison 12 Posted 29/09/2022 at 19:29:17 Only a few months back, Moshiri told us the club wasn't being put up for sale, and that he was just looking for new investors and every avenue had to be considered. I know very little about Kaminski but the majority of American owners of English clubs has never ended well. Probably the only exception is FSG but they had a good background in owning a sports franchise, which at least gave them an idea of what running a Premier League team would require.We may get more detail in time, but does this put at risk the new stadium at Bramley-Moore Dock being finishing on time? Obviously it has no effect on our FFP position, as that is down to the club and not the owner. Also, how will this impact on Lampard and his coaching team? Maybe the constraints of a new owner might make things more difficult. I know some have said, if it gets rid of Barrett-Baxendale and Kenwright, it will be a good thing. I worry if we end up like another Sunderland: American owner, new stadium, team get relegated, American sells, club ends in freefall. Brian Murray 13 Posted 29/09/2022 at 19:30:56 No smoke without fire, eh, Moshiri.... and take them two idiots with you. Raymond Fox 14 Posted 29/09/2022 at 19:44:23 If true, it's bad news. Wasn't Usmanov's properties raided in Germany?I hope the two are not connected. Robert Tressell 15 Posted 29/09/2022 at 19:46:26 My concern is more the competency of the owners than the acquisition structure. Undoubtedly a leveraged buy-out creates risk. The two big risks are (a) relegation or (b) the TV money drying up. That would give us real problems servicing the debt.However, as we are we have big uncertain risk hanging over the club in the form of a murky connection to sanctioned individuals, plus football-related incompetence.If the new owners are switched on, this could be better.And it seems inconceivable that private equity would pull the plug on the stadium because that's what will help drive their additional revenue and also remodel the commercial image of the club. Dan Doran 16 Posted 29/09/2022 at 20:29:05 Honest question here: What's with all the Barrett-Baxendale hate? I understand the animosity towards Kenwright but what did Denise do to become so vilified? She had a great reputation running EitC which is one of Everton's only bright spots in recent years. Everton's biggest problems over the past 5-10 years come from bad or no strategy and terrible recruitment. Isn't that all on Moshiri? No one mentions him while they blame her? Am I missing something? Bill Gienapp 17 Posted 29/09/2022 at 20:30:24 Be careful what you wish for. Moshiri's certainly made his share of mistakes, but there are worse fates than having an owner who's willing to throw 㾸 million a year at Carlo Ancelotti. Tony Everan 18 Posted 29/09/2022 at 21:13:18 Paul the Esk will have a few interesting words to say. I would like to know where the money is coming from as he isn't comparatively wealthy compared to many of our competitors' owners, and will the club be massively long-term indebted? Are the new owners going to raise capital by mortgaging future TV rights and other risky strategies? Last time up, I thought this interest was a bit strange and I am still wondering whether he is a stepping stone, a proxy for other, bigger investors. Probably letting my imagination get carried away.I suppose I am just looking to the likes of Paul and others more knowledgeable to tell me if this particular investor is good for the club or not. Especially as what some people say and then do are two different things. Kunal Desai 19 Posted 29/09/2022 at 21:28:55 Dan #16, a CEOs job is not merely to be involved in EiTC. A CEO has the responsibility of driving the club forward strategically, pulling off the best sponsorships and other commerical contracts whilst generating and maximising all possible revenue streams in the interests of the club. We have failed miserably in all areas of the role performed by a CEO. She has a cushty number thanks to Bill. Barry Rathbone 20 Posted 29/09/2022 at 21:58:00 Not the game changer required more carry-on midtable muddling minus silverware situation if true. And if true what a shithouse Mosh must be after announcing "NOT FOR SALE" recently. Christine Foster 21 Posted 29/09/2022 at 22:09:26 Maybe more to this than a straight buy out. I suspect Moshiri is looking for investment rather than a walk away deal. He probably wants a minority but substantial backer, the buyer probably wants controlling interest. Moshiris objective is probably a 60/40 shares deal to finance his portion of the remaining stadium costs, while reducing his contribution for finishing it. He stays in the game, hasn't sold the club and reduces his cost, remains in charge.If I was him that's the deal I would want. Dennis Ng 22 Posted 29/09/2022 at 22:34:03 Christine 21, I agree. $400m seems very low given the outlay he already has plus a new stadium in progress. Is the whole of Everton worth $1b? That will probably be what the final details will be about if materialized. Paul Birmingham 23 Posted 29/09/2022 at 22:37:07 For me this is on the back of the UK, economic crisis, and similar questions poised on other companies.I I don't see how Moshiri, would dilute his interests in Everton, until at least BMD, is commissioned..But who knows.. Focus on Soton, and 3 points this Saturday and to build on the recent good form. Jerome Shields 24 Posted 29/09/2022 at 22:37:41 Don't like this talk of the same takeover ground. I believe Kenwright was up to his neck in the last takeover attempt.This seems to more a press release than talks and why would Moshiri want it in the public domain.There is no reason he would. Mike Gaynes 25 Posted 29/09/2022 at 23:40:31 "I believe Kenwright was up to his neck in the last takeover attempt."Jerome, do you have any factual or even theoretical basis for this belief? Or is this just the latest edition of Jerome's Unfounded Rumors and Wild Speculations? Laurie Hartley 26 Posted 29/09/2022 at 23:46:40 Farhad Moshiri must have his head in his hands at the moment. Lyndon I think this statement of yours is very pertinent to the situation:-“Perhaps emboldened by Sterling's recent crash in valuation against the US Dollar – at 𧹈m, it would cost $70m less to buy the club today than it would have in June – Kaminski appears once again to be testing Moshiri's resolve.â€𧹈 million represents a significant chunk of Mr Moshiri's personal wealth - perhaps 25%? The question is how much resolve does he have regarding his ownership of Everton FC?In the current financial chaos the world is currently experiencing the people with the most wealth are probably rubbing their hands with glee wondering which bargains they should acquire while the going is good. For example Elon Musk could buy EFC tomorrow and it would be a mere blip on his radar.These people think long term. Everything passes. Unless the lunatics who are supposedly running the world decide to start WW3 in two years time EFC will be worth we'll North of the ٟB currently being bandied about. Especially in the light of the fact that Lang O'Rourke are locked in to complete the stadium build for 𧺬M.He is getting on a big now Mr Moshiri - will he decide to accept the first reasonable bid that comes in and sail off into the sunset to enjoy his remaining years - or will he ride the storm. It is going to get very interesting. Dale Self 27 Posted 29/09/2022 at 23:52:25 I guess I'll take the explanation that 'M' is looking for buyers without putting anything up for sale. Act like your still talking (or maybe Kaminski still thinks he's in this) when you;'re really looking for the next offer. He may wish for some investment to lessen his risk but I don't think that is an offer that Kaminski is considering. Meanwhile, Kaminski keeps his name in circulation for another opportunity. I got nothin' but that's what it looks to me, 'M' letting prospective buyers know that once BMD is done he's a seller. Dupont Koo 28 Posted 30/09/2022 at 01:35:14 Not a surprise that this re-surfaces: with the recent depreciations of the Sterling (thank you, Madam Prime Minister!). Our beloved club is now almost 25% cheaper to the Americans on whatever price that Moshiri quoted back in the summer. Mike Gaynes 29 Posted 30/09/2022 at 01:51:18 The Guardian says:The structure of the deal is complex and and prevailing market conditions have complicated matters but a source close to the negotiations said there was a high chance an agreement would be struck. The percentage of Everton to be bought by Kaminski remains under discussion.In other words, crapola. Matt Law of the Telegraph claims Kaminski has a net worth of $1 billion, but offers no credible source for that information. As best I can determine, Kaminski hasn't made a single public statement to anyone about anything since 1999. My business friends in Minneapolis know absolutely nothing about him. Fasten your seatbelt. We are not going to know jack shit about this guy until/unless he completes the purchase.And that makes me VERY uncomfortable. Steve Brown 30 Posted 30/09/2022 at 03:13:39 Minority investment to support the costs of the stadium building is being reported in some quarters. Jay Harris 31 Posted 30/09/2022 at 04:21:53 I agree with Christine.This is Moshiri's way of getting a large chunk of his money back and still retaining control by offering a large minority stake and possibly seats on the board.No idea whether Kaminski would be good or bad news but it would be good to get black Bill away from control of the club. Ed Prytherch 32 Posted 30/09/2022 at 04:31:57 The ever declining value of the pound has made British businesses susceptible to foreign takeover for decades. The latest drop of a few percent is small compared with past devaluations. A pound bought 5 US dollars for almost 150 years and it was at 4 dollars after WW2. The sad thing is that British GDP has fallen well behind the USA since the war and the pound has necessarily followed it. Laurie Hartley 33 Posted 30/09/2022 at 04:36:58 Jay # 31 - at the risk of incurring the wrath of Don and upsetting some of my other friends on TW - not if he turns out to be Bill MkII. Just saying like.I don't like the sound of this fella. I would much rather see our owner get the outside funding he needs to finish the stadium without having to dip into his own pockets again. Philip Bunting 34 Posted 30/09/2022 at 07:04:15 I think if Mosh can get this guy to invest and maybe say leverage 30 to 40% to him. Mosh gets the stadium built and both will see the value of their asset increase in the long term. Sort of win win, only see this guy as an investor sitting in the background in the short term, long-term worrys me if Mosh then cashed in his remaining shares Colin Glassar 35 Posted 30/09/2022 at 08:03:02 Danger, Will Robinson….. Pat Kelly 36 Posted 30/09/2022 at 08:53:54 The Guardian report suggests that Moshiri has so far funded 𧴜M on the stadium. With another 𧹺M to be raised, Moshiri needs an investor or outright sale. It's going to happen one way or another as the stadium can't be halted without incurring substantial losses. An investor isn't going to spend up to 𧹺M without a very significant stake in, or ownership of the stadium. This could entail Everton leasing the stadium from the investor. Or an outright purchase of the club if Moshiri wants out. Chris Williams 37 Posted 30/09/2022 at 09:20:40 Mike(29)I read the comment about $1B too. If true it doesn't sound enough to foot the bill on its own, does it? It's a lot less than Moshiri is allegedly worth.So either it's a small investment or it's all a bit overblown. Latest comments seem to indicate its far from a done deal. Howard Don 38 Posted 30/09/2022 at 09:25:50 Didn't fancy this guy back in June and still don't. Nothing I've read, anywhere, tells me he has anything like the financial muscle required to compete in the PL. Just have a horrible feeling he's a chancer looking to use the club as a cash cow. Stephen Davies 40 Posted 30/09/2022 at 13:36:58 I doubt this is a Full Sale of the Club. Moshiri is looking for Investment.. probably in order to continue the funding of the Stadium? John Kavanagh 41 Posted 30/09/2022 at 17:23:57 The Kaminskis describe themselves as a family business on the BBC website. They are, but, like the Corleones and the Sopranos, if any of the investigations into them are true. If they take us over, it will be like the Glazers on steroids. We'll end up like the restaurant in Goodfellas – a bankrupt smoking ruin.Fingers crossed that someone with real money takes over rather than someone taking on a fat loan to finance the deal. Tony Abrahams 42 Posted 30/09/2022 at 17:33:59 Although I never went inside, I used to really love that restaurant in Goodfella's, John! Fuck you - pay me, although the conniving bastard said he's never took a cent! Brian Wilkinson 45 Posted 01/10/2022 at 12:18:43 Don't worry guys, Bill knows how to have a new building and then sell it off and rent it back at a high interest rate, we are in good hands.In Bill we trust, choo choo. Add Your Comments In order to post a comment, you need to be logged in as a registered user of the site. » Log in now Or Sign up as a ToffeeWeb Member — it's free, takes just a few minutes and will allow you to post your comments on articles and Talking Points submissions across the site. How to get rid of these ads and support TW © ToffeeWeb