Bill Kenwright to exit Everton soon as ‘huge’ finance update shared on due diligence
MSP Sports Capital are edging closer to buying into Everton Football Club with advanced talks reportedly underway between them and Farhad Moshiri.
According to a report by iNews on 22 February, the New York-based investment firm are closing in on a “substantial investment” at Goodison Park.
It was reported that once the deal was done, there could be some new members arriving on the board for MSP trio Jahm Najafi, Jeff Moorad and Pete Taylor.
Of course, that spells bad news for Bill Kenwright, who’s facing an unprecedented amount of pressure at Goodison Park due to the failures of the last few years.
His absence from Goodison Park speaks volumes about the vitriol that he’s been exposed to, as well as so-called concerns about his safety.
Speaking to Goodison News this week (4 May), football finance expert Dan Plumley revealed that “due diligence” will now be well underway for MSP Sports Capital to buy into the Toffees as Moshiri seeks fresh investment following the blow of losing Alisher Usmanov’s backing last year.
Usmanov’s Russian ties meant be was sanctioned by the UK Government, bringing to an end Everton’s deals with USM and any further chance of Moshiri relying on the Uzbeki billionaire to fund the new stadium at Bramley-Moore Dock.
MSP should have the money to help bankroll the construction of Everton’s new, state-of-the-art stadium and, according to Plumley, the ball is well and truly rolling for that to happen.
“It’s absolutely a huge part of any financial decision,” he exclusively told Goodison News.
“It is the right thing to do as well, you do your due diligence on the club and on the finances and everything you can see in the paperwork, but you have to get a feel for the place as well.
“Especially with Everton as well at the minute with the new stadium, you want to go and see that, you want to look at the plans moving forward and you want to immerse yourself in as much as you can about that club, and that is just good business practise.
“It is no surprise to see that taking place, and absolutely the right thing to do if you’re going to invest in that club and move it forward, you need to know what you’re getting into it.”
Of course, MSP’s investment at Goodison Park won’t help curb the club’s financial fair play issues and it certainly won’t make things easier if the Blues are relegated from the Premier League.
But at the very least, the backing will be there if it’s needed.
It also means Kenwright’s days are numbered if MSP Sports Captial are this far into their efforts to invest in Everton.
We have little doubt that an exit plan is already in place for the Blues chairman, who could find himself replaced by someone like Najafi from MSP.