Post by Everton77 on Aug 22, 2004 14:54:46 GMT 7
Latest news from AFP:
A Russian business tycoon is set to buy a controlling 40-percent stake in crisis-hit Everton , in a move that would place two of England's most popular teams in the hands of Russian billionaires, the Sunday Times reported.
Boris Zingarevich has agreed to a 20 million pound (36 million dollar, 30 million euro) takeover, a cash boost that would bolster Everton 's chances of holding on to virtuoso 18-year-old striker Wayne Rooney, the paper said.
"They are starting with an investment of 20 million pounds, then we will see how it goes. They have a lot of money and will want to see the team do well," a football agent involved in the deal was quoted by the Sunday Times as saying.
Zingarevich, with his brother Mikhail, are founders of Ilim Pulp Enterprises, a paper and pulp manufacturer.
His wealth is thought to fall far below that of Chelsea owner Roman Abramovich, the Russian oil magnate worth an estimated 7.5 billion pounds.
But the men are rivals in business, and "have been involved in a long-running legal dispute" over two of Russia's biggest paper and pulp mills, according to the newspaper.
Two chief executives and two other directors quit Everton in the summer against a background of deep divisions over how the club copes with unsustainable debts reported to total 40 million pounds.
Club chairman Bill Kenwright announced several days earlier he had found a rescuer for Everton but had kept a mysterious silence over Zingarevich's identity. He was reportedly unsure about the Russian's worth, the Sunday Times said.
The acquisition is expected to be announced Sunday after a board meeting.
The lucky new owner could be presented soon thereafter with a follow-up bill for up to 20 million pounds, if he wants to dig his new team out of debt.
Business rival Abramovich, crowned Britain's richest man, has poured more than 100 million pounds into Chelsea, buying star players who led the London team to a semi-final showing in the Champions League and the runners-up spot in the Premiership.
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This would mean that if the deal goes through, we would have a Russian rivalry which hopefully, would prove to the world which club is the real Blues! Pray hard that the deal goes through soon enough for Moyes to dig into the transfer market before end of August. God bless the Toffees!
Rgds,
Damon
A Russian business tycoon is set to buy a controlling 40-percent stake in crisis-hit Everton , in a move that would place two of England's most popular teams in the hands of Russian billionaires, the Sunday Times reported.
Boris Zingarevich has agreed to a 20 million pound (36 million dollar, 30 million euro) takeover, a cash boost that would bolster Everton 's chances of holding on to virtuoso 18-year-old striker Wayne Rooney, the paper said.
"They are starting with an investment of 20 million pounds, then we will see how it goes. They have a lot of money and will want to see the team do well," a football agent involved in the deal was quoted by the Sunday Times as saying.
Zingarevich, with his brother Mikhail, are founders of Ilim Pulp Enterprises, a paper and pulp manufacturer.
His wealth is thought to fall far below that of Chelsea owner Roman Abramovich, the Russian oil magnate worth an estimated 7.5 billion pounds.
But the men are rivals in business, and "have been involved in a long-running legal dispute" over two of Russia's biggest paper and pulp mills, according to the newspaper.
Two chief executives and two other directors quit Everton in the summer against a background of deep divisions over how the club copes with unsustainable debts reported to total 40 million pounds.
Club chairman Bill Kenwright announced several days earlier he had found a rescuer for Everton but had kept a mysterious silence over Zingarevich's identity. He was reportedly unsure about the Russian's worth, the Sunday Times said.
The acquisition is expected to be announced Sunday after a board meeting.
The lucky new owner could be presented soon thereafter with a follow-up bill for up to 20 million pounds, if he wants to dig his new team out of debt.
Business rival Abramovich, crowned Britain's richest man, has poured more than 100 million pounds into Chelsea, buying star players who led the London team to a semi-final showing in the Champions League and the runners-up spot in the Premiership.
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This would mean that if the deal goes through, we would have a Russian rivalry which hopefully, would prove to the world which club is the real Blues! Pray hard that the deal goes through soon enough for Moyes to dig into the transfer market before end of August. God bless the Toffees!
Rgds,
Damon