Kieran Maguire: New takeover update is the ‘worst’ news for Everton
Minority investment would be the “worst of both worlds” for Everton as the prospective new co-owners would have financial obligations without any real control behind the scenes.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about Farhad Moshiri’s recent statement about his future on Merseyside.
The British-Iranian billionaire recently held takeover talks with a consortium led by Peter Kenyon and finance by Maciek Kaminski, per multiple reports.
But the controversial owner claimed in a statement last Thursday (14 July) that he will only consider minority investment in the club rather than a full buyout.
But according to The i on Thursday (21 July), the Kenyon-Kaminski group remain interested in thrashing out a deal.
Maguire, however, claims that it would be a poor business investment for the consortium.
“They would only be attracted to minority investment if it is a gateway to an ultimate takeover,” he told Football Insider’s Adam Williams.
“For a club like Everton that have lost so much cash under Moshiri and has shown a fairly wild west to financial prudence, why buy into, say, 30 per cent of that when you don’t have the ability to control the level of expenditure?
“To a certain extent, it’s the worst of both worlds. You’re putting money into an organisation but you’re not allowed to put your foot on the brakes when it comes to spending.”
Everton have lost over £370million in the last three years alone.
They fall within the Premier League’s Financial Fair Play limits because of Covid allowances, they claim.
In other news, pundit tells Everton to complete “huge” Ross Barkley signing as proposal made.