Premier League club Everton’s long search for an outside investment for the club could soon be over as it is understood that they are the subject of a £200 million takeover bid. The club are reportedly at the end of advanced talks with a consortium of investors including John Jay Moores, the former owner of the San Diego Padres baseball team.
American entrepreneurs John Jay Moores and Charles Noell have been in talks with the Everton board for a few months now. It has been reported that the Merseyside club are now hopeful that the deal will finally materialize.
Club chairman Bill Kenwright had expressed his will to sell stakes earlier on and this has been the most positive development since then. Moores and Noell had earlier shown interest in the Wales-based club Swansea City but came up with no fruitful results or agreements. Their attention then shifted to Everton as the club had been on the lookout for outside investment for about 10 years now and had stated that they were open to offers from around the world.
Everton are currently in need of funds for updating and developing their stadium for some time now. They also require funds for the annual strengthening of their squad under manager Roberto Martinez. However, there is no guarantee yet of the deal being finalized and both the sides are going about it cautiously.
But one could guess from the enthusiasm around Goodison Park that this is a more promising negotiation and has the least chances of falling flat on its face like some earlier ones did.
Both Merseyside rivals to be under American ownership?
Kenwright also hopes to secure an honorary position for himself after the club is taken over by the American investors. He has always maintained that he wanted to sell his stake to someone who could mainly understand the heritage of the club. If the deal is finalized, then both the two Merseyside clubs, Everton and Liverpool, will be under American ownership.
It is interesting to note that Moores had bought the San Diego Padres from Liverpool chairman Tom Werner for $730 million (£492 million) in 1994.
This deal, if it happens, will come after fellow Premier League side Crystal Palace sold 36 per cent of their shares to Joshua Harris and David Blitzer who earlier owned the Philadelphia 76ers basketball franchise. With the much talked about 5.136 billion pound TV rights deal coming up for the Premier league clubs, it is believed that overseas investors and those especially from the United States are keeping a close tab on the Premier league clubs.
Everton has reasons to look forward to the deal as they want solutions for their long-standing problems regarding the development of the stadium and the squad. Investors are also always keen on clubs which already have a basic infrastructure in place.
