A new online facility for the buying and selling of shares in Everton FC is launched amid continuing speculation over a takeover and new investment in the club. Tony McDonough reports
A new online trading facility for the buying and selling of shares in Everton FC is being launched amid continuing investment and takeover speculation.
Asset Match, an online platform for the trading of shares in unquoted and private companies is teaming up with two stockbrokers, Liverpool-based Blankstone Sington and Albert E Sharp to set up a new system and regular auction.
Farhad Moshiri owns 94.1% of Everton’s shares through his Blue Heaven investment vehicles, and club chairman Bill Kenwright 1.3%. The remaining 4.6% – totalling 6,219 shares – are owned by around 1,500 individuals.
Up until now buying and selling these remaining shares is a fiddly business. One stockbroker described it to LBN as “antiquated”. Buyer and seller have to make contact privately and agree on a price.
Prior to Mr Moshiri acquiring a 49.9% stake in Everton in 2016, Everton’s shares were reportedly changing hands for between £1,400 and £2,000 each. More recently shares have changed hands for more than £3,500 each.
However, until now there has been a lack of transparency. But with takeover and investment speculation around the club reaching fever pitch in recent months interest in the shares has risen.
MSP Sports Capital was reported to be considering an injection of £150m into Everton. However it pulled out of that deal following objections from one of the club’s existing lenders Rights and Media Funding.
However, MSP remains committed to providing a separate £100m financing package towards the cost of Everton’s new stadium, currently under construction at Bramley-Moore Dock on Liverpool waterfront.
Everton has endured a tough few years both on and off the pitch. Despite Mr Moshiri providing funds well in excess of half a billion pounds for new players, the club has flirted with relegation for the past two seasons.
In March it reported an annual pre-tax loss of £35.6m – a significant improvement on the £120.9m loss reported for the previous year.
Everton said its turnover hit £181m, down on the record £193.1 posted last year. It said the total cost of the COVID pandemic over four accounting periods was just over £180m.
However, in early August Everton FC’s chief commercial officer Richard Kenyon said the new stadium would be a commercial “game-changer” for the club. This is why the club remains optimistic it will be successful in securing new investment.
Asset Match’s new trading facility will provide a quarterly auction, offering transparency around the shares and prices on offer. This, it says, will put share ownership within the reach of more people.
This latest move comes after a number of the existing private shareholders requested that Everton FC be admitted to trade on Asset Match, which has now been confirmed.
The new quarterly auction will detail all the shares on offer at the time, in addition to the price each share is bought and sold for. The first auction closes at 3pm on Wednesday, September 27.
Ben Weaver, business development director at Asset Match, said: “Asset Match is delighted to be able to offer a secondary dealing facility for Everton FC.
“Everton is a historic name in the world of football and with its new stadium progressing well optimism around the club appears to be high despite a difficult period on the pitch.
“We believe we can help support and build the legacy of Everton giving shareholders and new investors alike a chance to trade the club shares in a new and transparent manner giving everyone a chance to obtain the best possible outcome.”