One reason Everton chairman Bill Kenwright may have survived the exodus of the clubs board of directors is that owner Farhad Moshiri cannot afford to buy the club shares off of the chairman, Paul Brown exclusively told FootballFanCast.
Kenwright first joined the Toffees as a director in 1989 and owns 1.3% of the Merseyside outfit.
What is the latest between Farhad Moshiri and Bill Kenwright?
Everton recently announced the departures of a number of directors and their replacements, in a move that has been brewing for a long time in response to the numerous fan protests throughout the season regarding their mismanagement of the club.
It was expected that Kenwright would be stepping down from his role at the same time as the three other departures, however, following talks with Moshiri, the 77-year-old was convinced to stay on in order to help the club through the "transitional period" they are undergoing.
The news was met with anger and disappointment by many Everton fan groups, who have been calling for the removal of "the most unsuccessful chairman in our history" since January 2023. The #AllTogetherNow group released a statement, stating: “We call for the immediate removal of the chairman of this football club – who has been the most unsuccessful chairman in our history. For the football club to move forward, and fans to unite, this without doubt has to happen.
The protests will not cease and will only further intensify if you [Moshiri] allow ‘Chairman Bill’ to stumble on, continuing to fail in his position, despite clear evidence for a need for change. We ask you to respond without delay to this loyal fanbase, do not cause any further unnecessary hold up to a deadline that the football club’s leadership team set out.”
However, Paul Brown has revealed that there may be another reason behind why Kenwright was kept in his role at the club.
What has Paul Brown said regarding the Everton board situation?
Speaking to FootballFanCast, Brown revealed that Moshiri isn't currently in a positon to go through with the deal he has agreed with Kenwright to buy the chairmans shares.
The journalist said: "The problem is this agreement that the pair have for Moshiri to buy Kenwright's shares. There are two issues there. I don't think Moshiri is currently in a position to be increasing his own shareholding at Everton and I think he may not quite simply have the cash to do that the cash available to do that."
How can Moshiri solve this problem?
Kenwright's continued presence in the club and the confusion it has brought could be what is delaying the proposed investment into the club by American-based MSP Sports Capital.
Moshiri has been searching for new investors to help finance the club's new stadium which is currently being built at Bramley-Moore Dock, and MSP are willing to do that. In return, the froup will receive a number of seats on Everton's new-look board of directors.
One solution could be MSP Sports Capital purchases Kenwright's shares directly, however, it is unknown whether the deal that has been agreed between himself and Moshiri will be the same deal offered to the American group.
Another solution is that Everton removes Kenwright from his position on the board whilst he keeps his shares at the club. That would appease the disgruntled fanbase, but it is unknown whether that puts the potential investment deal in jeopardy.
Whatever the plan is, the club and Moshiri have to sort it out fast, as there is a lot of work to do if the Toffees want to avoid another season like last.