Farhad Moshiri faces Everton reality as new valuation verdict shared
Farhad Moshiri is facing the reality of struggling to sell his stake in Everton for even a “fraction” of potential valuations, the Esk has said.
Posting an article on X [6 August], the finance expert assessed the current situation following the high-profile collapse of the proposed takeover by the Friedkin Group.
The Esk points out how Moshiri – who still possesses 94.1% of the club’s shares – has failed to deliver a takeover over the past two years which will have diminished the faith of Toffees fans that he can achieve a sale in a timely manner.
“The reality is that Moshiri has huge problems selling for a fraction of potential valuations [of hundreds of millions of pounds] despite the attractions of Bramley-Moore & accepting by necessity a write-off his £450m shareholder loan,” he shared online.
“The totally unsuitable 777 Partners offered a reported initial payment of $64m [£50.4m] rising to over $130m [£102.4m] subject to performance. Friedkin offered (reportedly) even less (£25-50m) yet still walked away during due diligence. There’s no immediate queue of buyers, even at these heavily discounted values.
“This is the position Moshiri has put the club in. Without proper leadership, governance and perhaps new board members to assist, how can we expect Moshiri to achieve in a timely manner, what he’s failed to do for more than two years?”
Everton could be forced into player sales
Despite Everton’s huge financial difficulties, there is plenty for potential investors to get excited about, not least the fact they will be in a new state-of-the-art stadium.
But the outlay required to buy the club would still be extremely high and that is where reality sets in for Moshiri when finding a buyer.
Offers that Moshiri would consider lowball have become the norm due to the debts which would be handed over and the ongoing project – namely the stadium developments in time for next year – incurring huge costs, and potential buyers are seemingly repelled by the danger of legal issues [The Esk, 31 July].
The Esk discusses how a complete revamp of leadership is required at Goodison Park, but now Toffees fans have reached a point where their voices appear silent and the majority owner is completely detached.
In the meantime it poses some fears about how the club will be funded through the season and whether the club can keep prized assets in Sean Dyche’s squad such as Jarrad Branthwaite, Jordan Pickford and Dominic Calvert-Lewin.
Everton take on Roma – owned by Dan Friedkin – at Goodison this coming weekend in a friendly match arranged when the proposed takeover was set to go through, and it almost feels like a “here’s what you could have won” scenario.
In other Everton news, Alan Myers discusses the club’s transfer policy over the course of this month.
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