Everton owner reportedly in talks to sell Premier League club

Everton FC is the subject of four potential takeover approaches, according to media reports.

One, headed by former Manchester United and Chelsea chief executive, Peter Kenyon, has reportedly agreed heads of terms, despite talks being at an early stage, claims a Daily Telegraph article.

The club, which narrowly avoided relegation from the Premier League last season, has declined to comment.

Mr Kenyon is fronting a US consortium, which includes Maciek Kaminski, the chief executive of Minneapolis-based Talon Real Estate, and American businessman John Thornton. They are being advised by investment specialist Michael Klein, along with the US law firm Weil, Gotshal and Manges.

Mr Klein was an adviser to the Sir Martin Broughton-fronted bid to buy Chelsea before Todd Boehly’s successful takeover.

Everton majority shareholder, Farhad Moshiri, who bought into the club in 2016, is believed to value the business at £500m, including club debt.

Mr Kenyon’s consortium is believed to have offered £400m.

They are also, reportedly, seeking assurances that Everton will not face a potential points deduction, or fines, over Financial Fair Play issues before tabling a legally-binding offer.

Everton’s financial strategy was impacted after one of its key investors, billionaire Alisher Usmanov, was sanctioned by the US and UK governments over his alleged links with Russian President Vladimir Putin following his invasion of Ukraine in February.

Mr Moshiri has provided around £500m of funding for the club since 2016, although his investment has failed to translate into a meaningful improvement in its playing fortunes.

He apologised to fans in an open letter last week, admitting: “We have underperformed in what proved to be a very challenging campaign.”

He added: “Mistakes have been made and for that I want to apologise to all of you. It has not been good enough and we need to do better.”

Mr Moshiri is currently funding the building of the club’s £505m new stadium at the riverside Bramley-Moore Dock site, and he pledged: “I am committed to securing the future success of the club by delivering a fully-funded stadium that will underpin our status as a leading club. Our new stadium project at Bramley-Moore Dock has reached an exciting and landmark stage as it emerges from the ground, with the four main cores now in place

“Of course, the stadium alone will not help us achieve our objectives and we are committed to not making the same mistakes again including how we have not always spent significant amounts of money wisely.”

His letter to fans concluded: “Your incredible support is never taken for granted and together we move forward.”

However, it is believed he is now ready to listen to offers that would allow him to withdraw from the club and hand control to new owners.