Pundit issues 'shocking' Everton £500m claim after takeover update
Alan Hutton has insisted a “shocking” recruitment record could prevent prospective new owners from investing in Everton amid takeover talks.
The former Scotland international, speaking exclusively to Football Insider, claim the Toffees have spent an “incredible” amount on new signings that have not worked out.
As reported by the Telegraph (13 June), early takeover talks are underway between a consortium fronted by Peter Kenyon and Everton chiefs.
The report claims current owner Farhad Moshiri values the club at £500million-plus considering the debts at Goodison Park.
The British-Iranian businessman has reportedly spent over £500million since taking charge in 2016.
With the club under scrutiny over financial fair play rules, Hutton questioned how much investors would actually be able to put into the club.
Subscribe to Football Insider TV now
Hutton told Football Insider’s Russell Edge: “It’s a lot of money but we see what they’ve spent. They’ve probably spent half a billion on players and different things, which is incredible.
“I think for any buyer coming in, it’s a difficult situation with everything that’s going on.
“They’ve just stayed up by the skin of their teeth, it was a really difficult season. I know there are a lot of players that will be off the wage bill this summer that can ease that burden.
“But again, after having such a poor season, they’re going to have to invest. What can they actually put into the playing squad after the money they’ve spent? Their recruitment has been shocking. It’s a difficult one for new owners coming in.”
Moshiri currently owns 94.1 per cent of shares in Everton.
Chairman Bill Kenwright has a 1.3 per cent stake, while other shareholders make up the remaining 4.6 per cent.