Kieran Maguire: 'Enormous' investment sanctioned at Everton amid takeover latest
Farhad Moshiri has already sanctioned “enormous” investment at the Bramley Moore Dock constructions site – and that makes his £500million valuation of Everton look far more realistic.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest twists and turns in the Toffees’ takeover saga.
A consortium of American investors led by Peter Kenyon have been actively trying to force through the purchase of the club from Moshiri in recent weeks.
A period of exclusivity with regards to negotiations has ended, casting doubt over the fate of the takeover talks.
But the Liverpool ECHO reported on Saturday (2 July) that the consortium still believes it can thrash out a deal.
It is understood that Moshiri’s valuation is the sticking point, with the British-Iranian businessman demanding £500m for the club and the consortium looking at closer to £380m.
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But Maguire claims that the work already completed at the Bramley Moore Dock stadium site, which is set to open ahead of the 2024-25 season, makes Moshiri’s valuation look more realistic.
“On the face of it, £500m looks a high price,” he told Football Insider’s Adam Williams.
“But you are inheriting a work in progress in terms of the new stadium. A significant amount of work has been done there already.
“It’s not as if the new owners are acquiring something on which nothing hasn’t already had enormous money thrown at it.
“It looks like the existing owners have already committed serious spending towards the project. So, it isn’t a case of £500m plus a further £500m for the new stadium because work has already started.”