Evertonians all over the globe this morning will be waking up to the news that according to The Times we are in talks with an American Consortium to purchase the club, to the tune of £200million if reports are to believed. We’ve been here before numerous times so we must be cautious, but this time the reports hold more substance than ever before.
So who is this consortium I hear you ask?! The group is being fronted by two American businessmen by the names of John Jay Moores and Charles Noell. Both men have made their money through technology companies. Moores founded BMC Software, which eventually became one of the biggest firms in its field. In 1992 he founded JMI Equity, a venture capital house, and two years later he spent $80million to purchase the San Diego Padres baseball franchise. Noell helped to co-found JMI and has been president of Moores’s family investment company since 1991.
What will interest Evertonians is Moores’s investment in the San Diego Padres, purchasing the franchise for $80million and invested heavily on and off the field. He battled for five years through the courts in building and opening of a new 41,000 all seater stadium which cost $450 million. Under his watch, the Padres won the National League West in 1996, 1998, 2005 and 2006. In 2007, they lost a play-in 163rd game to the Rockies at Coors Field on the last pitch. And in 2010, they missed the playoffs on the final day of the regular season. In 1998, the Padres went to the World Series for only the second time in club history and were beaten by the Yankees. There is definitely pedigree for investment, which we desperately need on and off the field.
The current state of play for Moores and Noell are that they are carrying out due diligence on the club and have signed an exclusivity agreement which expires at the end of January. In that time they are expected to make a decision on whether to purchase the club or not.
We have been here before but the signs are certainly positive, keep the faith Blues, hopefully this can get over the line and we can start the new year with a wave of positivity returning to our famous club!
Come on you Blues!