Everton Football Club is once again in the spotlight, but not for the right reasons.
The club’s owner, Farhad Moshiri, is now facing legal trouble from an unexpected quarter—Uzbek-Russian oligarch Alisher Usmanov.
Reports indicate that Usmanov has initiated legal proceedings against Moshiri, adding a new layer of complexity to the club’s already troubled situation.
Usmanov’s Past Ties with Everton
To understand the gravity of this situation, it’s important to note Usmanov’s past involvement with Everton.
His company, USM Holdings, was a significant sponsor for the club, contributing £12 million annually.
Additionally, USM Holdings secured the naming rights for Everton’s new stadium.
Moshiri, who once managed several of Usmanov’s global enterprises, is now confronting a lawsuit from his former business associate, as detailed by The Athletic.
Legal Action and Its Implications
The timing of this legal action could not be worse for Everton.
The club is already grappling with multiple issues, including a stalled takeover bid and ongoing construction of their new stadium.
Adding to the complexity is Usmanov’s connections with Russian President Vladimir Putin, which led to sanctions from the United States, EU, and UK following Russia’s invasion of Ukraine.
Usmanov’s lawsuit targets Moshiri’s Cypriot-registered company, Somelior Holdings Limited, with documents filed at Moscow’s Arbitration Court in September 2023.
The court has scheduled a closed-door hearing to protect trade secrets contained in the documents.
Impact on Everton’s Future
As Moshiri remains eager to sell Everton, potential buyers are now aware of the legal issues that could affect the sale.
The outcome of this lawsuit remains uncertain, but there is a possibility that Moshiri could be liable for damages, which could further complicate matters given the existing financial sanctions.
Previously, Everton was on the brink of being acquired by the American investment group 777 Partners, but the deal collapsed due to problems flagged by the Premier League’s approval process.
Current Club Status
In the meantime, Everton’s season has started on a sour note, with the team languishing at the bottom of the Premier League table after three consecutive losses.
The club is preparing to play its final season at Goodison Park before transitioning to the new Bramley Moore Dock stadium.
However, relegation to the Championship could mean that the new stadium debut might have to wait.
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