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Moshiri sets Everton pricetag as consortium readies takeover bid

Former Chelsea and Manchester United executive Peter Kenyon is fronting the group

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Arabian Sponsorship Forum 2009
Former Chelsea FC and Manchester United CEO Peter Kenyon
Photo by Jack Dabaghian/Getty Images

Amid growing speculation that Farhad Moshiri could be looking to sell Everton, news dropped today that there is a primarily US-based consortium looking to purchase the club. Per Matt Law writing in The Telegraph (paywall), talks are still early stages and apparently Moshiri has set the pricetag for the club at over £500million.

The group is led by Peter Kenyon, who is a former chief executive of Chelsea and Manchester United, and most recently led a similar consortium in a failed attempt to purchase Newcastle United. Per the article, others in the group include Maciek Kaminski — the chief executive of Minneapolis-based Talon Real Estate — and John Thornton — former co-president of Goldman Sachs and currently head of huge mining firm Barrick Gold. They are said to be using American law firm Weil, Gotshal and Manges investment specialist Michael Klein as advisors in their bid. Klein had previously been the consultant for Sir Martin Broughton’s takeover attempt at Stamford Bridge as well.

Kenyon remains involved in the world of football with his company Opto Advisers also involved in the purchases of Paris Saint-Germain and Wolverhampton Wanderers, and in similar attempts with Newcastle, Atletico Madrid and Middlesbrough. He was at Chelsea when Roman Abramovich took over and apparently the consortium would like for Frank Lampard to stay on should the offer be approved.

The piece also references heads of terms being already in place, which usually indicates intent to progress. They are also said to be looking for reassurances that the club will not face a points deduction or big fines for having flouted the Premier League’s Profit & Sustainability regulations, which the club have previously indicated that they are working with the league on.

While the club are yet to comment on the offer, in a personal letter to the supporters last week Moshiri indicated that he had “committed to to securing the future success of the club by delivering a fully funded stadium”. There is no word yet on whether the terms of the purchase by the consortium would involve financing the new stadium, or if Moshiri would still front the funds with the price for the construction locked in with Peel L&P.

The bid may still come to nothing but in the bigger picture of things, it could herald a shake-up at the executive level at the stagnant club after years of large investment with no tangible returns.