US businessman John L Thornton is in all probability the main money man in Peter Kenyon’s consortium that is reportedly in the process of buying Everton from majority shareholder Farhad Moshiri. Setting aside his ties to some unsavory people, the 66-year-old brings massive experience in the business world as well as working with China.
According to the Echo,
The 68-year-old US billionaire was formerly co-president of one of the world's biggest investment banks, Goldman Sachs, until 2003, and currently serves as executive chairman of Barrick Gold Corporation, a global mining company that operates 16 sites in 13 countries worldwide. It is a firm that had revenues of close on $12bn per year in 2021.
He has been a prominent figure in global business for four decades, having sat on the board of the Ford Motor Company in the 1990s and has graduated from Harvard, St John's Oxford, and Yale universities as well as having positioned himself as a person of authority on the Asian markets, being professor and director of the Global Leadership Program at Tsinghua University in Beijing and co-chair of the Asia Society.
Various reports list his net worth from $3 million to more than $2 billion. It’s often difficult to pin down the actual net worth of very wealthy people as they don’t want it known. No matter his net worth, he has significant financial clout and access to wealth in China.
Considering the Premier League approved Saudi Arabia’s purchase of Newcastle, it’s doubtful they wouldn’t do the same for this group.
So what does it mean for Everton?
First of all, Frank Lampard’s job is safe for at least the next season. Peter Kenyon was CEO at Chelsea when Lampard played at Stamford Bridge.
What about transfers? It’s reported, if Everton is sold all the debts will be cleared and money will be made available to buy players. Depending on the progress of the negotiations and the approval of the purchase. It might not be until the January 2023 window when the Blues have a lot of money to spend. That’s assuming Everton are able to satisfy Financial Fair Play regulations.
That doesn’t mean there won’t be incomings this summer. James Tarkowski has joined on a free and there are others who may well come in on free transfers. The Richarlison situation continues to evolve. Reportedly, Spurs are willing to offer Lucas Moura and Harry Winks and a bit of cash for Richarlison. If Richarlison really wants to go to Spurs, that might be the best deal. Lampard’s ties to Chelsea mean he is first in line for loans and possibly transfers. It’s likely some Chelsea players will play in blue in this season but in Royal Blue. Everton have already cleared money by letting players go. It seems likely, Yerri Mina and Andre Gomes will be sold. This could generate as much as £25 million.
So we come to the fate of Bill “Good Times” Kenwright, the Everton chair, who hasn’t won a trophy in his nearly 20 years in the post. Numerous reports say Kenwright rebuffed any approaches to buy Everton when he was the majority shareholder unless he was allowed to remain chair.
However, it seems unlikely he would stay in the post with a new owner. Surely it’s a post Kenyon seeks for himself.
Many fans and supporters’ groups are clamouring for a change at the chair and in the boardroom. Moshiri recently emailed a letter of apology to Everton supporters, admitting mistakes were made in transfers. Although, he must be lauded for his commitment to the new stadium under construction at Bramley-Moore Dock.
My thoughts: To be honest, I’m taking a wait-and-see approach to the prospect of Everton being sold. However, I’m not alone in believing Kenwright’s time to leave has come.
Finally, I’ll be putting some of my Everton content probably by Aug. 1. Most of it will still be free and the paid content won’t be expensive £5 a month with other options. Since currently I can’t get to Goodison (disabilty) I need a few quid for beer and snacks to watch the Blues on TV! Please let me know what you think and subscribe. It’s good for my ego, even negative comments let me know, it’s being read.