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Monday, July 15, 2024

Kenyon-Led Group Fails to Strike Deal for Everton FC

  • A consortium led by Peter Kenyon failed to strike a deal for Everton FC during its exclusive negotiation window.
  • A funding deal could still be worked out with another group.
Everton FC

A Premier League team will stay with its current owner for now after a consortium failed to strike a deal and saw its period of exclusivity expire. 

Everton FC owner Farhad Moshiri backed away from talks with a consortium led by Peter Kenyon, former CEO of Manchester United and Chelsea, along with U.S.-based John Thornton and Maciek Kaminski, whose family was to provide the bulk of the funding.

  • Kenyon’s group was in exclusive negotiations until July 1. Moshiri reportedly soured on the consortium.
  • Moshiri is still open to investors who can provide funding for Everton’s $596.9 million stadium project. The sale talks with Kenyon’s group evolved from discussions on stadium funding
  • Other groups are interested, but it’s unclear if Moshiri would still sell a controlling stake in the club.

Everton staved off potential relegation, ensuring that it will continue to bring in a substantial sum from the Premier League’s top-flight revenue sharing. 

Premier League teams each received $53.7 million in the 2021-22 season, representing half of the league’s revenue-sharing disbursements. The other half is determined by season results and how often a team’s matches were broadcast live.

New Digs

Everton is on schedule to move into its new stadium at Bramley-Moore Dock in the 2024-25 season, according to the team.

The club estimates that the project will add $1.6 billion to the U.K. economy while creating thousands of jobs and bringing 1.4 million visitors to Liverpool each year.

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