Kieran Maguire: Everton takeover consortium making a mistake amid £380m update
The consortium looking to take over at Everton risk paying over the odds if they fork out £380million to acquire the club from Farhad Moshiri.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the future ownership of the Toffees.
Former Man United and Chelsea powerbroker Peter Kenyon is fronting a group of American investors keen to buy Everton.
The Athletic reported on Wednesday (22 June) that the collective is working off an equity value of £380m.
But Maguire believes that, while that figure is closer to a fair price than Moshiri’s £500m estimation, it would still be a mistake to pay so much for the Toffees.
“I think £380m is more realistic,” he told Football Insider’s Adam Williams.
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“But you have to ask yourself what you are buying. For Everton, you are buying Goodison Park, which is going to have to be replaced.
“Then there are player contracts. They have some talented players there. If you sell them, you have to replace them. That’s the net contribution for player trading.
“However, all fans would rather you have a positive net spend rather than an income-generating one. So, £380m is still very, very top-heavy price.
“If you can buy Newcastle for £305m and that includes St James’ Park, why are you paying that much for Everton? There is also a £500m commitment in terms of Bramley Moore Dock.”
Everton are due to move to their new stadium at Bramley Moore Dock in time for the 2024-25 season.
They have recorded financial losses of £370m over the last three years alone.