US TECH INVESTORS TO BUY EVERTON FOOTBALL CLUB FOR $297 MILLION

A consortium led by two US technology investors is negotiating to buy Everton Football Club for an estimated £200 million (272 million euros, $297 million), The Times newspaper reported on Wednesday. The report said the group had signed a preliminary agreement with owner and chairman Bill Kenwright and was checking the club’s accounts with the aim of completing a takeover within the next six weeks.

The agreement means the investors have been given time for exclusive talks on the deal. The consortium is led by John J. Moores and Charles Noell, co-founders of venture capital firm JMI Equity. The 71-year-old Moores, who is also the founder of business software firm BMC, bought the San Diego Padres baseball team in 1994 and sold it in 2012.

Contacted by AFP, an Everton spokesman declined to comment. The report comes after fellow English Premier League side Crystal Palace last week said US investors Josh Harris and David Blitzer had bought a 36-percent stake.