everton Seeks Fresh Investment
Everton FC is in talks over new investment into the club, according to BBC Sport.
The report claims that the Premier League football club has held conversations with private equity firms MSP Sports Capital and 777 Partners about financing the club’s new stadium at Bramley-Moore Dock.
In February, owner Farhad Moshiri told the fans’ advisory board the club was “not for sale” but he had been talking to “top investors of real quality“.
The news comes at a time of uncertainty for one of the country’s biggest football clubs. Sean Dyche’s team are currently languishing in 19th in the table, with the threat of relegation drawing closer.
Dropping out the Premier League would strike a significant financial blow to a club that is already struggling.
In March, Everton was referred to an independent commission by the Premier League over an alleged breach of Financial Fair Play rules.
In its latest accounts, the club posted financial losses for a fifth successive year, totalling more than £430m over that period. This breaks financial rules set by the Premier League that states £105m is the maximum losses allowed over a three-year period.
The problems have been compounded by growing costs on the Toffee’s new 52,888-capacity stadium that is scheduled to be completed in time for the 2024-25 season. Since originally budgeting £500m to build the stadium, costs have increased to around to about £760m.
Senior figures from MSP, including Iranian-American billionaire chairman Jahm Najafi, attended Everton’s 2-1 home defeat by Southampton on 14th January and it is understood they will likely expect representation in the boardroom if they do invest in the club.
New York-based investment fund MSP Sports Capital were linked with a takeover of Premier League rival Tottenham Hotspur in February and already own stakes in a number of European clubs including Augsburg in Germany, Alcorcon in Spain, Portuguese club Estoril and Beveren in Belgium.
777 Partners have invested in numerous clubs in Europe including Spanish Europa League semi-finalists Sevilla and Bundesliga side Hertha Berlin, as well as owning Serie A club Genoa and Belgium’s Standard Liege.
A full takeover of Everton has not been completely ruled out, with more clarity over its future expected to materialise once the result of the team’s relegation battle is confirmed.
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