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Oct. 5, 2022, 7:22 p.m. EDT

Premier League club Everton attracting takeover interest from SPAC co-led by George Soros’ nephew, report says

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By James Rogers

Everton Football Club is attracting takeover interest from Los Angeles-based special purpose acquisition company LAMF Global Ventures, according to a Bloomberg report.

Citing people familiar with the matter, Bloomberg reported Wednesday that LAMF Global Ventures Corp. /zigman2/quotes/230849006/composite LGVC 0.00% has held preliminary talks with Everton about a deal. However, there is no certainty of a transaction, the report said, adding that LAMF Global Ventures could pursue a deal for another European football club. George Soros’ nephew Jeffrey Soros is chairman of LAMF Global Ventures and movie financier Simon Horsman serves as the vehicle’s CEO.

Former Everton Deputy Chairman Keith Harris serves as an advisor to LAMF Global Ventures, according to SEC documents. Special purpose acquisition companies, or SPACs, raise money through an initial public offering for a future acquisition or merger. LAMF Global Ventures raised $253 million in its initial public offering in November 2021.

Everton declined to comment on the report when contacted by MarketWatch. LAMF Global Ventures has not yet responded to a request for comment.

See Now : Chelsea Football Club being sold for $3 billion to Los Angeles Dodgers owners, investors

In 2014, Jeffrey Soros and Horsman founded the Los Angeles Media Fund. The Fund’s primary focus is the development, financing and production of feature films, documentaries and television, according to its website .

One of England’s oldest clubs, Everton was established in 1878 and was a founding member of the Football League in 1888. The club has won England’s top division on nine occasions and has played in the Premier League since its creation in 1992.

Everton’s last relegation from England’s top flight was in 1951, although the club came close last season. Survival was clinched in the penultimate game of the season when the team came back from 2-0 down to defeat Crystal Palace 3-2 amid emotional scenes at Everton’s Goodison Park stadium.

In a July letter to the club’s supporters, Everton’s majority shareholder Farhad Moshiri wrote that the club is not for sale. But sale rumors continue to swirl. The Financial Times reported last week that Moshiri was in talks to sell the club to American real-estate investor Maciek Kaminski.

Earlier this year, a consortium of U.S. investors led by Los Angeles Dodgers co-owner Todd Boehly purchased Chelsea Football Club for 2.5 billion pounds, or $3.1 billion.

/zigman2/quotes/230849006/composite
US : U.S.: Nasdaq
$ 10.20
0.00 0.00%
Volume: 22,880
Nov. 29, 2022 1:36p
P/E Ratio
1,097
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Market Cap
$355.36 million
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