Everton investment now unlikely as MSP Sports Capital interest wanes
MSP Sports Capital’s interest in Everton has waned and investment in the club now “must be considered unlikely” according to The Esk.
The American investment company, fronted by Jahm Najafi, has been in talks with Toffees owner Farhad Moshiri for months, with representatives spotted in the crowd at Goodison Park for the defeat to Southampton on 14 January.
A 15 February report from the Financial Times suggesting a Najafi consortium was now planning to attempt a buy-out of Tottenham had taken Everton by surprise, but Sky Sports‘ Kaveh Solhekol reported on the same day (1.03pm) that it hadn’t ended Everton investment possibilities.
Everything since has appeared to suggest the sale of a minority stake to MSP was on track, but the latest news suggests it has fallen apart at a late stage.
The Esk reported via Twitter on Tuesday afternoon (14 March): “I’ve heard from two very good sources that MSP’s interest in investing/funding in Everton has wained [sic] & now must be considered unlikely.”
Unbelievable
This looks to be just the latest in a series of dispiriting developments around the financial and ownership situation at Everton.
Despite him and his board being deeply unpopular with the fanbase Moshiri seems to continue to flip between attempting to sell the club and then changing his mind and instead only looking for investment, and now even that is on the rocks.
A consortium headed by Peter Kenyon appeared to be making a serious run at buying the club in the summer, but Moshiri pulled out as mixed messages came from either side of the negotiations.
The Guardian then reported on 24 January that he had put the club back up for sale for £500million, raising hopes among supporters that a new era might finally be near.
But the Daily Mail reported a week ago (7 March) that he was no longer willing to sell in case it invited renewed scrutiny from the British government over his links to sanctioned oligarch Alisher Usmanov.
At that point the MSP investment was still “expected”, and with the new stadium continuing at a pace amid a tight financial situation at the club and ongoing relegation fears it certainly seems that renewed funding and some fresh viewpoints on the Toffees board is needed.
But this latest report appears to suggest that once again the situation is set to fall through. It certainly doesn’t reflect well on the club under Moshiri and Bill Kenwright’s stewardship if multiple interested parties come forward and ultimately fall away again.
Clearly it is cavalier to hand influence to just anyone, but the common denominator in the worsening situation at Goodison Park and the failed negotiations is the current hierarchy, so this will do nothing to increase confidence in their stewardship.