UK government to want Everton takeover assurances of Alisher Usmanov exclusion after Farhad Moshiri ‘debt’ claim
The UK government are set to want assurances that the Everton takeover will not benefit Alisher Usmanov in any way, according to The Times.
The paper reported via their website on 7 December that the executive will want to be convinced that the former Toffees sponsor won’t end up receiving any of the money from a change in ownership at Goodison Park.
The Russian billionaire is a former business partner of current club majority shareholder Farhad Moshiri but has been sanctioned by the government over his links to Russian president Vladimir Putin, in the wake of the country invading Ukraine.
Everton severing ties with Usmanov last year meant hastily ending substantial sponsorship agreements and the loss of the resulting revenue contributed to the financial situation at the club, with the Toffees deducted 10 points during the recent international break for a breach of profit and sustainability rules.
A representative of the billionaire had previously told The Guardian (26 September) that they hoped the “debt” Moshiri has to Usmanov would be repaid after the club’s sale.
But 777 have said that no links to Usmanov which could affect the takeover have been uncovered in the due diligence process, having taken legal advice themselves and sought their own assurances from Everton.
Complications
The club have maintained ever since they announced they had cut ties with Usmanov that he is no longer anything to do with Everton or Moshiri in an official capacity.
Questions have arisen over that in the months since so it is little surprise that the government will have their eye on this, in much the same way as they insisted that Roman Abramovich wouldn’t receive any of the sale proceeds when Chelsea, opponents at Goodison Park this weekend, were bought by Todd Boehly and Clearlake Capital.
At this stage it has to be in doubt whether it will prove a moot point in terms of 777 Partners’ current attempted takeover, with the deal now considered “unlikely” to be successful by sources close to the matter.
But with Moshiri no longer funding the everyday running of the operation at Goodison Park the club are going to need an alternative to step into the breach should 777’s push fall through.
So Westminster figures are sure to be watching closely either way, although at this stage it is unclear how much Moshiri is going to even get out of a sale in light of the debts and the points deduction, let alone what debt he could theoretically repay from it.
The complicating factors involved in the future direction of the Toffees continue to be plenty, with this just the latest element that might cause concern.
In other Everton news, Sky Sports have been branded an “absolute disgrace” for what they did ahead of the win over Newcastle.