Takeover bid by Peter Kenyon

[Rita_Poon]

The problem is mate the pool of serious players is a lot smaller than years gone by.

Russian Oligarchs are off the table for obvious reasons

The Chinese investment boom in football has dried up

UAE / Qatar / Saudi all have clubs to sportswash

Majority of takeovers will largely involve US consortium's going forward and they wont take the club where we as fans want us to be long term - for me its rearranging deck chairs on the titanic.

Interesting point, once upon a couple of decades ago Fiat propped up whichever club is associated with it. Would we be happy with 'Chevrolet' as shirt sponsor for instance.
The more things change the more they stay the same.

 

[Paul Rideout]

Think we've missed the boat there with PSG owned by the Qatar SWF - dont think they could get away with owning 2x clubs in Europe particularly if we ever got into european competition.

I imagine our best hope is a Dubai Royal or Chinese state backed group.

This happens and I have a very difficult decision to make abouut changing sports (I can't support any other footy team than EFC)

 

[Exeter_Gently]

Bangs him out la

 

[catcherintherye]

Kenyon makes me wary.

I'm hoping for a Tim Cahill led Qatari consortium that takes care of the situation.

That would be the real winner. PSG's owners want a club in the UK. Probably to play 2nd fiddle to PSG initially, but longer term, who knows.

 

[Del-boy]

Selling now before our value drops if we get relegated next year. I think last season has scared him into thinking Everton will struggle next season due to lack of investment in the team this summer that it clearly needs. Getting out for a decent price now.

 

[catcherintherye]

Selling now before our value drops if we get relegated next year. I think last season has scared him into thinking Everton will struggle next season due to lack of investment in the team this summer that it clearly needs. Getting out for a decent price now.

There also have to be real concerns about how far he, and the board can maximise the new stadium.

 

[anton66]

Think we've missed the boat there with PSG owned by the Qatar SWF - dont think they could get away with owning 2x clubs in Europe particularly if we ever got into european competition.

I imagine our best hope is a Dubai Royal or Chinese state backed group.

Probably more like Kosovan or Albanian princes.

 

[MrGrumpy]

FFP will be changed soon, and there would be stupid deals.

They still have to be of Fair Market Value. Everton messed it up badly and for the next 2 years we need to sell our prize assets(Richy/DCL) to buy players. We have a stadium to pay for which is “Fully Funded” which means what exactly.. this seems a really odd time to sell the club
Nearly relegated.. arnt allowed to spend money and have 4 corners of a stadium built

 

[davek]

This is my big concern, the clubs is a basket case, it’s drip fed by 200mil investment a year by a looney owner, removing that is going to be fast, hard and painful - we are utterly dependent on that finance, the club can’t spend money and invest in footballers due to profit and sustainability. Therefore there is absolutely no way you’d touch this business, if you couldn’t raise finance and get someone else to pay it back. We’re just not attractive as an investment, so there is an alternative revenue raising strategy here.

Nothing good can come from from this at all, best outcome here is Moshiri stays and continues to write massive cheuqes and clean up the mess he’s created. Looks like he’s cutting his losses to me, he doesn’t want to pump 200 million into us a year anymore.

Think of this though, Moshiri has appointed 6 permanent managers almost one a year since he’s been here, based on that judgement and analysis in decision making, do we really trust him to pick the best owner for Evertons Wellbeing?

I’ll get the markers and sheets.

This lot linked would put us through the ringer. No question.

Are better options to them put off by the FFP situation though? The Saudis bought Newcastle presumably because they were in a good position to get in and make a difference by spending loads, as Ashley had starved that lot of investment.

I hope there's a buyer out there who look at the bigger long term picture for this club with a great fanbase and new stadium there to be developed to lead us into a new era.

 

[Neiler]

That's also the bit I think with a vulture fund.
It's not worth close to what they would look at.

The club is worth it, if you think you can monetise the stadium, and the brand.

A vulture fund would buy an undervalued asset or debt mate. I’m not sure we’re undervalued, given the figures talked about, our level of debt and the need for continuous investment - we essentially need cash injections of 100s of millions a year to operate.

A vulture fund could look to to sell our debt on maybe and sweat the club to repay, I don’t see any other value, if they bought us for 500 million, we’re not worth that so they are over paying, to be sustainable there would be huge cuts, or the club taking on increased debt, that they may sell in and sweat the club, taking from revenue from the football club to invest. Essentially it’s what Bill did, but likely on a larger scale.

I just don’t see what you do in terms of a vulture fund?

 

[catcherintherye]

They still have to be of Fair Market Value. Everton messed it up badly and for the next 2 years we need to sell our prize assets(Richy/DCL) to buy players. We have a stadium to pay for which is “Fully Funded” which means what exactly.. this seems a really odd time to sell the club
Nearly relegated.. arnt allowed to spend money and have 4 corners of a stadium built

They would do what Citys owners did. Pay what they want, and dare UEFA/PL to take them to court to lose. They dont mess about. Watch Newcastle.

 

[catcherintherye]

A vulture fund would buy an undervalued asset or debt mate. I’m not sure we’re undervalued, given the figures talked about, our level of debt and the need for continuous investment - we essentially need cash injections of 100s of millions a year to operate.

A vulture fund could look to to sell our debt on maybe and sweat the club to repay, I don’t see the other value, if they bought us for 500 million, we’re not worth that so they are over paying, to be sustainable their would be huge cuts, or the club taking in increased debt.

I just don’t see what you do in terms of a vulture fund?

That's it.

Everton at this time make no sense for a vulture fund. We made some sense in 2016 for such a fund, but not now.

 

[Davideeyore]

• Former Manchester United and Chelsea chief executive Peter Kenyon is fronting a consortium who have entered talks to try to buy Everton. Kenyon is part of a group that includes chief executive of Minneapolis-based Talon Real Estate Maciek Kaminski and American businessman John Thornton, and is being advised by investment specialist Michael Klein, along with the US law firm Weil, Gotshal and Manges. It is understood heads of terms have been signed although talks are described as being at a “relatively early stage”, with owner Farhad Moshiri believed to value Everton in excess of £500million, taking into account the club’s debt. The consortium may want guarantees that Everton will not face a points deduction or heavy fine over Financial Fair Play issues before entering into a legally-binding agreement, but the club have always insisted they have not broken regulations. Kenyon has been advising clubs and prospective owners for a number of years from his base in Jersey. His company Opto Advisers have been involved with the transformative takeovers of Paris Saint-Germain and Wolverhampton Wanderers. He has worked with Atletico Madrid and Middlesbrough, and was involved in a bid to buy Newcastle United. Klein, who, like Kaminski, has been approached for comment, was an adviser to the Sir Martin Broughton-fronted bid to buy Chelsea. The group made the final shortlist, but missed out to the Todd Boehly-led consortium. Thornton is the executive chairman of Barrick Gold, one of the world’s largest mining companies with a net worth of £31billion, and non-executive chairman of PineBridge Investments, having stepped down as co-president of Goldman Sachs in 2003. From their time together at Chelsea, Kenyon already knows Everton head coach Frank Lampard well, having negotiated contracts with the former midfielder and it is expected the 43-year-old would receive the consortium’s support if a takeover was completed. Everton have not commented on the talks, but any takeover may not be good news for chairman Bill Kenwright. The 76-year-old has held his position since 1989, but has become the target of criticism from Everton fans and Moshiri last week apologised to supporters for mistakes in a season in which the club narrowly escaped relegation from the Premier League. Everton and Moshiri were forced to sever all business links with Alisher Usmanov after he was sanctioned by the Government following Russia’s invasion of Ukraine. The club’s multiple sponsorship ties with companies associated with the Uzbekistan-born billionaire were terminated and last week a new club record front-of-shirt sponsorship with casino and sports betting company Stake.com was announced, which provoked fresh scrutiny. 'It has not been good enough and we need to do better' Moshiri, who has overseen spending over £500m since his arrival at Everton in 2016, wrote an open letter to supporters that read: “It has not been good enough and we need to do better. Mistakes have been made and for that I want to apologise to all of you." The British-Iranian businessman also reaffirmed his commitment to deliver a "fully funded" new stadium at Bramley Moore Dock, which is currently under construction, while pledging to not make the same mistakes in the transfer market that led to the club posting combined losses of £372m over three seasons. “The stadium alone will not help us achieve our objectives and we are committed to not making the same mistakes again - including how we have not always spent significant amounts of money wisely,” he said. “You have given us incredible support that helped us over the line when we most needed it, and we must repay that support and show that lessons have been learned.” Regardless of a proposed takeover, Lampard is hoping to sign as many as five new players this summer. James Tarkowski has agreed a free transfer move after his Burnley contract expired and there is interest in Chelsea midfielders Conor Gallagher and Billy Gilmour, as well as Tottenham Hotspur’s Harry Winks. Spurs are prepared to offer Winks and Lucas Moura as part of an offer to sign Richarlison, who Everton value at well over £50m.

"but any takeover may not be good news for chairman Bill Kenwright. The 76-year-old has held his position since 1989"
Not right that is it?

 

[davek]

That would be the real winner. PSG's owners want a club in the UK. Probably to play 2nd fiddle to PSG initially, but longer term, who knows.

There's always been lots of rumours about middle east cash and Everton. IIRC hairy hands Keys was saying a few weeks ago there was a Moshiri buyout from that neck of the woods.

 

[barneygumble]

Kenyon makes me wary.

I'm hoping for a Tim Cahill led Qatari consortium that takes care of the situation.

Wouldn’t that be something if they actually brought Cahill in, In Jan to oversee the management recruitment ahead of him having a Middle Eastern Sheikh swoop in and take us over.