Everton takeover: New interest explained as game-changing development nears

A myriad of prospective new Everton owners are now emerging because the club’s potential is bigger and better than ever before believes Keith Wyness.

With Everton released from the grip of 777 Partners after their Share Purchase Agreement expired some eight-and-a-half months on from wantaway majority shareholder Farhad Moshiri striking a deal to sell his entire 94.1% stake to the controversial Miami-based private investment firm, an increasing number of interested parties have stepped forward to offer varying takeover bids. John Textor, who has controlling stakes of Olympique Lyonnais, Botafogo and RWD Molenbeek plus a 45% minority share in Crystal Palace, was first to declare his interest and has since been joined by lifelong Evertonians Andy Bell and George Downing; Michael Dell, one of the richest men in the world; Roma owner Dan Friedkin and London-based businessman Vatche Manoukian.

Wyness, who was Everton’s chief executive between 2004-09 and now runs a football consultancy advising elite clubs, told the ECHO: “I believe that Everton is actually a more-attractive proposition than it’s often been made out to be, but I’ve always believed that. It think the club is worth much more than the debts at the moment and the potential going forward is as big as ever and better than ever.

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“I’ve always felt that the club is attractive but then again I’m slightly biased being a fan. But from a pure business point of view, and I’ve spoken to a number of people about it, it is still a very attractive proposition.

“Reasons for this are the new stadium and the ability to invest around the new stadium in that part of Liverpool. We’ve seen a lot of American owners often buy up land around the stadium they’ve got and multiply their investment that way.

“It’s the chance to have a stadium that is fit for purpose and I think Everton would go up to around seventh in the country when it came to revenue numbers (Goodison Park is currently 18th in the Premier League) while Finch Farm is already in place. You’ve already got the basics of a situation with good facilities comparable to most clubs and in a funny way you’ve got stability or at least the chance to get it.

“We saw the fantastic images of the Queen Anne cruise ship sailing passed Everton’s new stadium last week and you can imagine those kind of pictures being beamed out around the world for an evening game. Those things don’t directly bring in revenue, they enhance the brand and it’s going to become a very iconic venue, there’s nothing else like it in the UK and the stadium will create a halo effect around the club as well.”

“Whoever comes in, I think they are going to be the crucial owner for Everton as they need to listen with genuine football experience and knowledge behind them as there is a chance to create something that is very stable over the next 10 years with a good revenue stream coming in through the stadium while getting the football side right, something that Farhad Moshiri obviously hasn’t done.”

MSP Sports Capital have been on the scene for several months are understood to remain in contention but Wyness believes Everton’s next owners will come from one of the newer groups to come forward. He said: “I would expect a new group to emerge with something like maybe £400million who would pay off part of the debt and the remaining stadium costs while having some working capital for the club and then they’d be able to restructure the rest of the debt for a longer period to get the club through next season. I think there could then maybe be a bigger fix come the end of the season once Premier League status is secured with refinancing going forward into the new stadium.

“My hunch at the moment is that a new group will appear from the names we’re hearing and are continuing to emerge. MSP, who have also been linked to Tottenham Hotspur, seem to have had a little reluctance in doing it but if push comes to shove, I think they would probably do it but from what I understand, they would prefer not to.”

Like 777, who have a multi-club model, the likes of Textor and Friedkin already own major teams in other parts of Europe while the former has admitted that disposing of his Crystal Palace shares in time to win this race could be problematic but Wyness acknowledges there are ways around such issues. He said: “We’ve seen how the likes of Manchester City and Manchester United can play in Europe with other teams in their stable and they’ve done that by putting the shares in a blind trust for one of the clubs and I understand John Textor has put the same kind of representation to the Premier League that he could put his Crystal Palace shares in a blind trust and therefore be free to take over at Everton. He’s a much more hands-on owner than Moshiri and has now got enough experience in football that he is credible.

“He’s not so much about just the first team but all about the process in terms of getting the right squad together, in the right direction with the right football people behind it so I would welcome that kind of approach at Everton. He’s certainly not short of passion either.”

Everton will move into their new 52,888 capacity stadium at Bramley-Moore Dock at the start of the 2025/26 season and Wyness believes that an owner with a savvy approach could really help the club to reap the benefits of a set-up that has all the ingredients to produce a brighter future. He said: “Everton have a chance to get it right on the commercial side by maximising the great new asset that they’ll have and being smart and innovative on that side of things which is difficult given that it’s all been overshadowed by the recent problems. Whichever new owner comes in, if they focus on the football process, understands it and gets the right people involved rather than knee-jerking all over the place like we’ve seen over the last few years, then I think the future is very bright.

“That’s why I think those who understand it can see that it’s still a great asset.

“I think the area around the stadium could become a 24/7 entertainment hub and there are going to be lots of other opportunities with it to put Liverpool back on the map as a real destination with people falling over themselves to be part of the stadium and the surrounding area in terms of launching events.

“The temptation right now is that a lot of financial engineering has to get done but I do believe that somebody coming in will understand this opportunity of getting it right on the sporting side and I believe that there are people out there who have got a good pedigree. Over at Liverpool they had Tom Hicks and George Gillett come in and then Fenway Sports and while even they have had some issues, they’ve got it right overall and Arsenal have just about got it right with Stan Kroenke.

“It’s never that easy but I think eventually if you can get 75-90% of it right then you’ve got a chance and that’s where Everton can benefit from a well-settled owner who really pays attention to people who understand the club.”

Although Aberdeen-born Wyness, also worked for his home city club as CEO as well as holding a similar position at Aston Villa, the 66-year-old admits that Everton will always have a special appeal for him. He said: “Even when I was a young boy growing up in Scotland, I used to have photographs of Alan Ball and Brian Labone on my wall so Everton touched me from a fairly young age. I regret having such a short period at the club as I resigned for a number of reasons but in many respects, I often wish I was still there and over the last few years I’ve always done all that I can to help the club.

“It’s still very much a part of me and I want to see the best outcome right now. I loved my time with the fans and I think there’s still about 70% of the staff there from my time at the club.

“I’ve got a great affinity with them. The love is in my heart and I want to see them succeed.”