Kieran Maguire: ‘Time slipping away from Everton’ as takeover deadline revealed
The “sands of time are starting to disappear” for special acquisitions company LAMF to complete a partial Everton takeover – but there is no reason that a deal cannot be agreed.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the current state of play as Farhad Moshiri seeks external investment in the Toffees.
Everton have flirted with Financial Fair Play sanctions in recent years and are shelling out millions for their new stadium at Bramley-Moore Dock, and it is for that reason that the British-Iranian billionaire is looking for third-party funding.
American businessman Maciek Kaminski has recently returned to the negotiating table after walking away earlier this year.
Meanwhile, LAMF – a SPAC co-fronted by Jeffrey Soros, nephew of George Soros, one of the world’s richest men – is also understood to be in talks with club officials with a view to a deal.
As relayed by the Liverpool ECHO last Thursday (6 October), an 18-24 month deadline for a takeover was set when the group raised £226m in funds last November.
But Maguire sees no reason why a deal could not be completed in that time.
“We have seen a rise in SPACs in recent years,” he told Football Insider’s Adam Williams.
“They have become the darling of Wall Street. These are special companies which are set up to make acquisitions in particular industries. If they fail to make an acquisition, the money tends to go back to the investors.
“The sands of time are starting to disappear as far as this particular SPAC is concerned.
“Everton does tick a lot of boxes in the sense that it is a very vibrant and iconic city. Football is seen by American investors as an industry which is undervalued by the traditional markets.
“I think the new owners want to develop the game in ways that might challenge the traditional fanbase. But there is certainly an opportunity and there is no reason why they can’t get a deal over the line.
“When lawyers and accountants have to work quickly, they are capable of putting in 24-hour shifts.
“The deal could easily be mid-season. We saw Newcastle acquired just over 12 months ago. The timings from an investment perspective don’t have to be aligned with the football season itself.“
In other news, Everton lining up £150m Bramley-Moore deal.