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Post by Everton News. on Jun 29, 2022 18:27:49 GMT
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Post by rugbytoffee on Jun 30, 2022 16:00:17 GMT
Everton minority shareholders won't be forced to sell if takeover completes Everton's minority shareholders won't be pushed into selling their stake in the club should the proposed sale of the club to a US consortium go ahead. Blues owner Farhad Moshiri is currently in talks with a US group being fronted by former Manchester United and Chelsea CEO Peter Kenyon and financed by Maciek 'MG' Kaminski, a Minneapolis-based real estate magnate, as well as mining and private investment chief John Thornton. After a letter of intent was signed the two are now in a period of exclusivity to allow further talks and due diligence to take place. Talks are said to be "progressing well" according to a source close to the Kaminski bid, with the ECHO being informed yesterday that the bid for the club itself would be made up of equity only and would not use debt, avoiding any leveraged buyout concerns that may have been lingering. The capital expenditure needed to complete the stadium, believed to be around £500m, may be subject to refinancing. Moshiri presently owns 94.1 per cent of Everton's shares, with his Blue Heaven Holdings Ltd holding 127,031 shares. Chairman Bill Kenwright holds 1.3 per cent of shares, a total of 1,750, while the remainder (4.6 per cent) is made up of 6,219 minority shares held by individuals. The ECHO understands that 'conversations are ongoing' between the would-be new owners and Kenwright over his shareholding moving forward, while a source close to the bid confirmed that minority shareholders would not be forced to sell their shares should the Kaminski/Thornton bid be successful. It is Kaminski who is understood to be providing the bulk of financing, with the vehicle for the bid being KAM Sports LLC, a firm set up with the aim of creating a multi-club sports portfolio with Everton as its flagship. Kaminski's son, Mikhail, is the sole registered officer of KAM Sports and is expected to take a role at board level should the deal be completed. It is also understood that the group, who have committed to improving communication with Everton fans, are aware of the AGM having been scrapped earlier this year and aware of the feeling around that, although no decisions have yet been taken over that matter. The Kenyon/Kaminski/Thornton bid is aiming to complete a deal as soon as possible and have eyed a potential positive conclusion by July 21, when Everton take on Minnesota United as part of their US tour in the city of Minneapolis, the home city of Kaminski and his family. www.liverpoolecho.co.uk/
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Post by rugbytoffee on Jul 1, 2022 17:42:12 GMT
Everton will not be pursuing takeover talks with a consortium led by Peter Kenyon any further after a period of exclusivity came to an end on Friday.
The club's owner Farhad Moshiri has been seeking investment for Everton's new £500m stadium.
But the group, led by former Manchester United and Chelsea chief executive Kenyon and including United States-based businessmen, also had discussions about a stake in the club.
Everton have now decided to move on.
It is not clear if the group, which included US investors Maciek Kaminski and John Thornton, are still interested in helping to fund the stadium.
Moshiri is still understood to be committed to the club and delivering the stadium at Bramley-Moore Dock which is set to open in 2024.
Everton have posted losses of £372m over the past three seasons, and have suspended contracts with Russian sponsors who were owned or part-owned by Alisher Usmanov after the Russian billionaire was sanctioned following the invasion of Ukraine.
The deal to sell forward Richarlison to Tottenham for £60m was completed on 30 June, the deadline for the accounting period for last season. That means it will help balance the books for the next rolling three-year period.
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Post by Avinalaff on Jul 1, 2022 19:24:49 GMT
I knew something would happen while I was out lol.
There's a bigger picture here as far as I know, so let's wait and see.
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Post by evertonfan1968 on Jul 2, 2022 12:31:37 GMT
I knew something would happen while I was out lol. There's a bigger picture here as far as I know, so let's wait and see. As in Usmanov was funding everything and now we're buggered?
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