Alan Stubbs blasts Everton board following fresh investment update
Alan Stubbs has taken aim at the Everton board after MSP Sports Capital withdrew from talks about taking a stake in the club.
The New York-based investment group had entered into an exclusivity agreement with the Toffees in May over acquiring a 25 per cent stake, but The Athletic reported on 23 August that it has now pulled out of those negotiations.
Following the news, former Blues captain Stubbs sent an angry tweet on 23 August calling for the club’s board to provide the fans with answers on what is going on behind the scenes at Goodison Park.
“What is happening at our club?” he asked. “Why can’t we get proper answers from the club? Surely as Evertonians, we deserve answers from the board or actually just anyone at the club! We await with anticipation.”
Worrying
The latest development will no doubt have worried many Everton supporters, including Stubbs, as the club’s future does look to be on the line after MSP pulled out of the deal.
The investors were due to pump £150million into the Toffees to help ease the financial costs associated with the new stadium on Bramley Moore Dock.
Owner Farhad Moshiri has been on the lookout for some extra funding for a while after it was announced the new stadium would now cost £760million having previously been estimated at about £500million.
The Blues have also been posting huge losses for a number of years, with the BBC reporting on 22 May that they have lost £430million over the past five years.
The ex-Toffees defender is right that the fans deserve answers from the board after this is yet another disappointment to add to the long list of failures made the club’s hierarchy in recent years.
In other Everton news, a BBC journalist has criticised the board for the “crisis” developing at Goodison Park.