Everton nearer to takeover as American investors target £200m deal
Last Updated: 09/02/16 12:24pm
Everton appear to be edging nearer to a takeover after talks with American investors John Jay Moores and Charles Noell progressed.
Moores, the former owner of Major League Baseball franchise the San Diego Padres, and his associate have been in negotiations since December.
The pair have undergone a six-week due diligence period looking at the club's books and speaking to major shareholders chairman Bill Kenwright, Robert Earl and Jon Woods.
According to reports, the Americans are looking to secure a deal for £200m in the next few weeks. There has been interest from other parties, but none are as far down the line.
Everton have not commented on any of the recent takeover speculation, but at the club's AGM in November chief executive Robert Elstone said: "There has never been more people interested in investing in Everton and the chairman is confident [investment] will be secured in the near future."
At the same meeting, Elstone said the club's plans to move to a new £300m home in nearby Walton Hall Park were more dependent on securing partnership funding from the city council than they were on fresh outside income.
"We are not working on the new stadium on the premise that we are about to secure new investment or need new investment," he said.
Moores came close to buying a stake in Swansea in 2014. He is a 71-year-old entrepreneur who made his fortune in software. He bought an 80 per cent stake in the Padres in 1994 and sold it for a reported $800m in 2012.