Everton hold talks over investment offer

Everton have confirmed they have had talks with a London-based consortium over investment into the newly-qualified Champions League club.

Everton have confirmed they have had talks with a London-based consortium over investment into the newly-qualified Champions League club.

The Premier League’s fourth placed outfit have been involved in talks with several interested parties in the past months, and it is believed that a group led by former Tottenham director Howard Shore is not considered a ’hostile’ approach.

Everton chief executive Keith Wyness said today: “There have been some preliminary talks. But we have talked to several parties and always have an open mind about such things.

“We obviously have a duty to look seriously at any offers that come along.”

This approach comes from Shore’s group little over a year after he resigned as a Spurs director following a disagreement with chairman Daniel Levy over plans for a rights issue.

The Daily Telegraph reports that Shore’s interest in Everton came about when he was introduced to agent Jon Smith by Jonathan Metliss, who is a friend of Shore’s and also Smith’s lawyer. Crucially, Smith is also a friend of Everton chairman Bill Kenwright.

The Shore consortium includes Everton fan and London media man Keith Young, and the club would almost certainly see it as a welcome involvement rather than some recent moves to buy into the Goodison Park set-up that would be seen as putting pressure on Kenwright’s position as owner and chairman.

There have been suggestions that director Paul Gregg – a long standing opponent of Kenwright’s – has been approached by Chester chairman Stephen Vaughan to buy shares.

Gregg has denied such a move but Vaughan has confirmed he has been involved in talks, and would need around £8m (€11.8m) to buy the 23.2% stage that Gregg holds.

For much of last season, following last summer’s boardroom rumpus and power battle between Kenwright and Gregg, there have been moves to involve a Geneva-based group the Fortress Sports Fund, who claimed to be prepared to inject £12m (€17.8m) into the club with a potential for more in return for a stake in the Merseysiders.

But although there have been many promises, that money has not arrived in Everton’s bank account amid claims that the Fund wanted total support for their move before releasing the cash which they insist is in place.

That deal was set up by Kenwright and was not greeted with wholesale support from Gregg, hence the failure for the cash to find it’s way into Everton’s hands. That deal has slipped quietly into the background.

It has been believed for some time that Gregg would like to sell his family stake -- held jointly with wife Anita – of around 8,000 shares, because although he can publicly question the running of the club he cannot break the majority control that Kenwright and deputy chairman Jon Woods have at Goodison.

But since Everton’s return to Europe and the cash rewards that will bring, Kenwright is under nowhere near as much pressure to sell or allow outside investment as he was last summer.

Then Everton were almost ripped apart by a summer of discontent, which even threatened the future of boss David Moyes. But the performances on the pitch have left Kenwright in a rock-solid position and able to pick and choose any new investment partners.

Everton are expected to make a profit this year and Moyes has been given money to spend in the transfer market. He has already bought Simon Davies and has bids in for Mikel Arteta, Mikael Forssell and Scott Parker.

Forssell is expected on Merseyside for a medical and talks on personal terms when he has completed international duty with Finland this week, but the Parker deal is nowhere near as close to completion.

Everton have made £12m (€17.8m) already following their Premier League success from TV and merit money, and could add over £20m (€29.6m) if they reach the Champions League group stages.

Moyes and his team have transformed the club financially and given Kenwright as much breathing space as he needs, so he does not have to chase cash from investors who would eventually weaken his control of the club.

Shore’s group, say Everton sources, are considered to be a friendly involvement which would add more cash to the previously impoverished club while also backing and strengthening Kenwright’s control.

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