• Loading stock data...
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
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.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The Mississippi Department of Human Services on Monday sued retired NFL quarterback Brett Favre along with several other people and businesses to try to recover millions of misspent welfare dollars that were intended to help some of the poorest people in the U.S.

Judge in Mississippi Welfare Case Boots Brett Favre’s Lead Lawyer

The judge wrote he had a ‘pattern and practice of delicate deception.’

Man United Faces Financial Struggles After Worst Premier League Season

The Premier League club sees its losses soar and revenues fall amid ongoing on-field issues.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
April 13, 2024; Columbus, Ohio, USA; Ohio State Buckeyes wide receiver Emeka Egbuka (2) catches a pass for the scarlet team while defended by cornerback Jordan Hancock (7) of the grey team during the first half of the LifeSports Spring Game at Ohio Stadium on Saturday.

As NIL Turns Three, Collectives and Football Still Control the Industry

Collectives dominate NIL, and football makes up most of collective budgets.
podcast thumbnail mobile
Front Office Sports Today

Warner Bros. Discovery Faces Final Decision on NBA Rights

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
July 7, 2024

The New College Sports Insiders Are Graphic Designers

Joe Tipton and Hayes Fawcett have become premier news-breakers on social media.

‘Baseless Corporate Conspiracy’: Hedge Fund Heats Up Feud Between NBA Owners

The Mat Ishbia–Dan Gilbert feud has exploded into view this week.
March 14, 2024

Chiefs’ President Threatens Team Could Leave Kansas City If Voters Don’t Give It Money

The Hunt family’s cheapness continues to show after Super Bowl title.
March 25, 2024

Tony Clark Appears to Be Winning Fight Over Baseball’s Union

Some players had recently called for the removal of Clark’s top negotiator.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
IRS
February 15, 2024

IRS to Start Auditing Sports Owners

Audit increase comes with the agency’s increased enforcement budget.
Theo Epstein
February 2, 2024

Theo Epstein Returns Home, Joins Fenway Sports Group

The 50-year-old will serve as a senior adviser to the ownership group.
January 24, 2024

Former Tottenham Owner Pleads Guilty to Insider Trading Charges

Tottenham is worth $2.8 billion and owned by Lewis’s family trust.
Mark Cuban and Dallas Mavericks.
November 28, 2023

Adelson Family Freed Up $2B To Reportedly Buy Stake In Dallas Mavericks

Miriam Adelson is selling a portion of her Las Vegas Sands Corp stock.