Everton FC is off the market.
Majority owner Farhad Moshiri wrote a letter to the club’s fans assuring them that any new investment in the team would only be a minority stake.
“There has been much talk of investment in our football club recently — even takeovers — but I want to clarify that there is no for sale sign currently hanging outside Everton Football Club,” the letter reads.
Last month, a group led by former Chelsea FC and Manchester United chief executive Peter Kenyon reportedly held discussions to purchase the club. Reports suggested Moshiri was open to selling equity stakes in the club and/or external investments in the franchise’s new $605 million stadium.
- Moshiri intended to talk to Kenyon’s group about stadium funding, but the discussions reportedly developed into exclusive takeover talks.
- Reported estimates for the club’s price tag ranged from $609.1 million to $1.2 billion.
“I am focused on completing the financing for our fantastic new stadium as well as strengthening the playing squad, and that might include a minority investment,” Moshiri wrote. “That will continue.”
The stadium is slated to open ahead of the 2024-25 season.
It’s no surprise that Everton needs funding for its stadium. In March, the club reported a loss of more than $131 million for the third consecutive year — totaling $438 million in losses over the last three fiscal years.
In the last seven years, Everton has only made a profit once.