Farhad Moshiri sued by Alisher Usmanov as legal case impacts on Everton takeover process
Farhad Moshiri has been sued by former Everton benefactor Alisher Usmanov in a move which has complicated the club’s takeover process, The Athletic reports.
According to the outlet’s website on 10 September potential bidders to buy the Toffees have become aware of the legal case, being held behind closed doors in Russia due to the presence of “trade secrets” in some of the involved documents.
The Athletic has seen documents filed at Moscow’s Arbitration Court in September 2023 which lists Moshiri’s company Somelior Holdings Limited as one of six defendants in a case brought by Usmanov and company USM Holdings.
At least one potential Everton bidder has reportedly discussed concerns over whether payment made to Moshiri as part of a takeover could break sanctions laws if it in turn was used to pay Usmanov as part of the legal case.
The club hastily cut ties with the billionaire and his sponsorship deals when he was sanctioned by the UK government in March 2022 over links to Russian president Vladimir Putin following the invasion of Ukraine, but a source close to Moshiri insists UK laws will prevent him paying damages from the current case.
A Moshiri spokesman refused to comment formally to The Athletic other than to say the court action was “complete”, while no response was received from Usmanov.
John Textor is currently trying to buy Everton
Everton hardly needed any extra complications to a takeover process that is already beset with them but it looks like another one has arisen.
Whether the Usmanov case proves to be an actual stumbling block or not it appears to have already been enough to raise doubts in the mind of potential buyers.
Uncertainty and concerns about what may happen in the future could be enough to derail a process as expensive and delicate as the takeover of a Premier League club, with Dan Friedkin abandoning his own buy-out in the summer amid a lack of clarity over money owed to 777 Partners, and the potential for legal complications down the line [The Athletic, 20 July].
The Times reported on 7 December last year that the then-government wanted assurances that any Everton takeover did not benefit Usmanov in any way, so if the current government feel the same it is likely to at least be looked into.
John Textor is the man currently trying to buy the club, and believes he can secure a deal with Moshiri in the next month [Guardian, 10 September].
But his shareholding in Crystal Palace needs to be sold and the financial complications attached to the Toffees’ current debt burden is already making the process a tricky one.
So with the aborted Usmanov relationship part of the reason why Everton now find themselves in the financial circumstances they do it is hardly going to be welcome for his presence to potentially jeopardise a way out.
In other Everton news, a European trophy winner will be in the frame to replace Sean Dyche if he is sacked.
For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.