A consortium led by Kevin Malone, former general manager of the LA Dodgers, is considering making another offer to acquire Everton Football Club. This comes after The Friedkin Group (TFG) withdrew from negotiations to buy the club due to concerns over Everton’s complicated financial situation.
Everton’s owner, Farhad Moshiri, is looking to sell his 94.1% stake in the club, but the team’s debt to 777 Partners and Advantage Capital has made finding a buyer difficult. 777 Partners’ own financial struggles and accusations of alleged fraud have added to the complexity of the situation.
Malone’s consortium had previously made a competitive offer, believed to be in excess of £300m, and may return with a second bid. Malone has expressed his passion for Premier League football and his affinity for Everton, and his group is understood to be focused on both football and community aspects.
However, navigating the debt owed to 777 Partners and Advantage Capital, as well as a £225m loan owed to Rights and Media Funding (RMF), will be a significant challenge for any potential buyer. Everton’s financial situation is further complicated by a 5% interest rate on top of the Bank of England base, resulting in an overall interest rate of 10.25%.
Despite the uncertainty surrounding the club’s ownership and finances, Everton remains committed to retaining key players, including Jarrad Branthwaite, who has been linked to a move to Manchester United. The club has made it clear that they do not wish to sell Branthwaite unless a bid in excess of £70m is tabled.
In addition to Malone’s consortium, British investment firm Vici Private Finance may also consider making an offer for the club. However, local businessmen and Everton fans Andy Bell and George Downing are unlikely to return to the negotiating table despite being a popular choice among fans.
The situation at Everton highlights the challenges faced by football clubs in managing their finances and finding suitable buyers when ownership changes are sought. The club’s fans will be hoping for a resolution to the situation that ensures the long-term stability and success of the team.