Everton could be the head of a multi-club 'portfolio of sports clubs' if a takeover is completed by a US consortium.
The Toffees are subject of interest from US real estate tycoon Maciek 'MG' Kaminski, chief executive of the Minnesota-based Talon Real Estate, which holds retail, residential and commercial properties across Middle America.
The takeover interest is being led by former Manchester United and Chelsea CEO Peter Kenyon, while billionaire mining and investment magnate John Thornton has also been reported to be involved in the consortium previously.
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Everton owner Farhad Moshiri is understood to be willing to sell the club that he acquired for £220m back in 2016 given the struggles on and off the field, with the club having lost more than £372m over the past three years and still having to find up to £500m in financing to complete the stadium build at Bramley Moore Dock. Moshiri's investment into the club since 2016, which hasn't delivered success, is thought to be over £700m with all things considered and a heavy loss on that investment is almost certain if he does sell.
But in selling the club he would cut his losses and not have to be the person to find the next tranche of investment to complete the stadium work as well as being the man to underwrite any further losses at a club that narrowly escaped relegation from the Premier League last season following a disastrous campaign.
The Telegraph reported on Wednesday that the Kaminski bid was aiming to close the deal by July 21, with Everton due in the US and the Kaminski's home city of Minneapolis to take on Minnesota United, managed by former Everton hero Adrian Heath, later next month as part of their tour of America.
Kaminski, who it was also reported has already made a trip to Merseyside to see the Bramley Moore Dock work for himself along with his son, Mikhail, is reportedly ready to follow in the footsteps of the likes of Fenway Sports Group and City Football Group in owning a portfolio of multiple sports teams.
A shell company was set up on February 7 of this year, KAM Sports LLC, registered to the Las Vegas office of agents Corporate Creations Network Inc, according to official filings. The only appointed officer to KAM Sports LLC is that of Mikhail Kaminski. The setting up of LLC's in states like Nevada and Delaware is common practice in the US due to the stricter privacy protection for businesses, generous tax incentives and ease of registration, among other things.
It has been claimed that KAM Sports LLC would be the vehicle for multi-club ownership should the takeover be successful.
While recent details on the wealth of the Kaminski operations are sketchy the Telegraph reports that the family have significant funds through their real estate empire, with a source close to the family claiming that "funding will not be an issue" and that the group are "probably over-funded for what could be spent within the rules."
Multi-club models, whether it be just football or a mix of sporting teams, have become a focus of investment groups in recent years.
With the value of sports teams rising across the board, buoyed by improving media rights deals, more eyeballs and the convergence of sports, entertainment and media, investors see the longer term value in acquiring these teams, even if in some cases the value placed on the business, in Everton's case a rumoured £500m plus capital expenditure commitment of the same again to complete the stadium, may seem over inflated.
A mix of revenue streams, the ability to share ideas and adopt a shared strategy all appeal to investors, with US investors in particular seeing the sporting market as undervalued, especially with the legalisation of betting across America's major markets opening up potentially huge revenue streams that did not exist previously.
US investors also see European football, in particular, as being undervalued when compared to the valuations of teams in America, which have grown at a far faster rate.
The average MLS franchise valuation in the US is pegged at around £450m. The MLS is behind the Premier League by an enormous distance when it comes to global interest, and also on home soil, with the Premier League the second most watched football league in America, behind Mexico's Liga MX. The value of the Premier League to the US market can be seen in the sale of the next cycle of broadcast rights to NBC and its streaming platform Peacock for close on £2bn.
AC Milan and Lyon have both been the subject of takeovers from US investors recently, and it is a trend that looks set to continue for some time, with the Kaminski group seemingly ready to try and get in on the action, using Everton as its 'flagship' club.
But a deal that still remains shrouded in some mystery will need more clarity for Everton fans before any such move can be embraced.
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