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SPORTS UPDATE

American businessman in talks to buy Everton

Current Everton owner Farhad Moshiri is reportedly in discussions to sell his club for around $444 million to an American businessman. The Financial Times claims the potential suitor is Maciek Kaminski.

Kaminski is the founder and president of Kaminski Asset Management. He moved to Minnesota from Poland when he was eight. He studied at the University of Minnesota, earning a Bachelor’s degree in biology and physics. H Kaminski gained distinction in the 1990s when he founded the Kaminski Poland Fund. At the time, this was the first and only Poland-focused investment fund in the United States.

According to the report, talks between the two parties progressed in recent days. However, no deal has been finalized. Plus, any potential agreement needs the Premier League’s approval. Also, the currently unstable financial market in the United Kingdom complicates any deal.

Moshiri first initially began his investment in Everton six years ago. He was previously a minority owner in Arsenal before selling his shares to take a majority stake in Everton in 2018. Moshiri sold his Arsenal shares to Alisher Usmanov. The billionaire then made a failed attempt to takeover Arsenal, as Stan Kroenke won the bid.

However, the two businesses remained partners. Usmanov continued to have financial ties with Everton until earlier this year. The Russian businessman had his assets frozen by the European Union in May due to his country’s invasion of Ukraine. It was reported that Usmanov was close with Russian president Vladimir Putin.

Raker beams are now installed in the fast-developing east stand, with the west stand also a hive of activity.

Since the ordeal with Usmanov, Moshiri has reportedly been seeking a new partnership to help finance a new stadium for the club. While this obviously made many speculate that he would potentially sell Everton, Moshiri denied the claims. “It will always be pragmatic to explore all potential investment opportunities”, Moshiri stated in July. “But I want to reassure all of you that Everton Football Club is not for sale.”

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