 Wel gone a toffi TV today and delighted to say I'm joined by the Daily Mirror Northern Sports Correspondent, David Maddich. David, awa yw mate? I'm alright, I've spent three hours at the dentist so not that good but I'm happy to be here talking. I can talk, that's always a good thing when you come out the dentist. Once you feel your mouth coming back, you can get on with your life, it's not too bad. Obviously there's news going, big news I suppose, around Evan at the moment in terms of a Peter Kenyon consortium which is apparently trying to buy the football club. Obviously you've done a couple of pieces on this already. When did you first hear about this story, this link? Well actually a few weeks ago there were some rumours swirling around and there were a couple of suggestions and actually the name Kenyon did come up but not necessarily in connection with a takeover as such. I think it actually transpired and I subsequently learned that Kenyon approached the club initially with some suggestion of helping finance the stadium build. I think it evolved from there into him then saying that he was fronting the consortium that actually wanted to do a full buyout of Everton and I think that's where we're at now this week. And it is only in initial stages by the way so I think maybe you're getting carried away by all the idea of exclusivity and all that. They're still actually just exploring what Everton's financial position is. So no offers been made, nothing like that but they're certainly in talks. That's absolutely true. Yeah I mean I've seen obviously you read the stuff around it and there was some contradiction when you're interpreting stuff of head of tans and exclusivity then on the other hand it's early stages and then two things don't necessarily go together. But how serious do you actually think this interest is? You know what, before we started to speak I was thinking how honest do you get in this because it's only my opinion. Yeah of course. Well there's two sides to this. One, sports investment is probably the most lucrative investment you can have in any business form. Now I was told quite recently by someone who is a huge investor that there's only been one investment in the last 20 years that's outperformed sports investment and that's fine mind. So you basically make more money out of investing in football clubs, in sports clubs than you do out in any other business, in shares, in gold, whatever. So there's that and the reality is there are so few opportunities to buy a Premier League football club which is the biggest now league in the world. Certainly the biggest football league and it's now arriving the NFL etc and will overtake I think the American sports leagues. So the chance to buy to become a rights holder instead of just invest in different forms in a Premier League club is really rare, really difficult. So if want a chance to come up then there's going to be interest there's no doubt but at the same time it's got to make financial sense. And what we're hearing about Meshiri is now I've done a rough sort of back of a fag packet, wood binds calculation and I reckon he's already in for getting on for £800 million. He's put about £800 million into the club. Now that is a huge amount of money when they haven't even built the stadium and I think and again this is my calculation so it could be slightly inaccurate. But I think the bulk of the stadium build still needs to be paid for. So that's another £500 million which puts you know Meshiri's investment at well over £1 billion if you were to continue and fund the build or find the finance for the build. And if you were to repay him what he's put in and then fund the stadium you're looking at £1.2 billion perhaps and maybe then some money to actually invest in the team. So that is a huge amount of money for a club that was flirting with relegation this season and for one that will not have a stadium for at least two more years. Obviously they'll have a stadium but not have the new stadium which is the key to business growth for at least two more years and over those two years they're going to lose a lot more money so you have got a factor that into account. I mean they've lost £250 million over the last two years you could easily see that getting repeated over the next two or three years until the new stadium is open. That's a huge amount of money that takes you up to £1.5 billion. Now are they serious about that? I would say that they would be looking, I'd say they'd be looking to get that figure down significantly. And then does Meshiri then take a loss on his investment and that's the big question, does he take a loss? We all know that he's had business connections in the past with Osmanoff. I mean obviously he was the chairman of USM Holdings. He sold shares in Arsenal which were related to Osmanoff's investment in Arsenal to buy Everton. So you could argue that he may still be influenced, now I'm not suggesting he is by any means but he may still be influenced by that investment. And therefore it may not be his decision alone, let's put it that way. But nonetheless to take a significant loss on a Premier League club who when the stadium is built you would imagine would suddenly start becoming profitable. Certainly if they were run properly they'd become profitable then he's got that decision to make. They haven't put an offer on the table, they are interested and there is other interest and as you mentioned the reports have done. I've been told there are at least three others and there could actually be even more who are also interested from various parts of the world, Middle East, America, whatever, from different areas. I can't name them because I don't know the people involved yet got that information. But from different parts of the world there are people who are interested too because going back to what I said originally and I'm conscious I've spoke for a long time here. But chances to invest in Premier League clubs don't come along too often but at the same time it still has to make economic sense and I think that's where we're at. So now I'm going to go back and answer your question, how serious is it? I would say at 1.3 to 1.5 billion not that serious. Anything less than a billion. Maybe. I think there'd be discussions, there would be negotiations. But would Masherry take a significant loss on the money he's put in? I honestly don't know and obviously only he can answer that and there's not, I think there's only one person in the whole world that can actually get out of Masherry what he actually wants to do and I think we've already mentioned him. That's where we're at I reckon. It is really interesting. I'll slightly disagree with some of your numbers to be honest, just slightly. Because I think when you're saying 800 million I think a couple of hundred million tied into the stadium there which puts the balance of 300 million which takes it to the billion which is being mentioned. I think you even mentioned that in your thing as well around the billion which is still, that's a hell of a lot of money. Chelsea have just gone for 4.3 billion, they're playing, albeit Chelsea Champions League, European Champions twice in the last 10 years, always up near the top. I get it London, I absolutely get it. But are they four and a half times more valued than Everton playing in a Premier League which is essentially the league isn't it? You're not really, anyone buying into Everton, they're not buying into Everton as such, you're buying into the Premier League first and foremost aren't you? And then obviously it's where you go with that. So do you think the Chelsea price has driven up everything else? Absolutely and you're absolutely spot on. And maybe my calculations as I said they're only my calculations and they're certainly not expert calculations. But I think what people are not factoring in this billion pound figure which is what I did originally is not taking into account what losses that could occur over the next three years before the stadium is built. And whilst it's a fixed price contract there are other costs surrounding the build of the stadium outside that fixed price contract that would actually still rise it up. And you're quite right. Some of the 800 million or so that we both roughly calculate it does include costs that is already sunk into the stadium. Although I think some of those costs are not included in that fixed price contract to reduce that. But anyway going back to exactly what you're saying is spot on. It's a Premier League club and not only that it's an established Premier League club, one of the longest in the top flight. I think second longest in the top flight. So a name that resonates around the world in a league that resonates around the world. And as I keep saying that that opportunity comes along so well then you will definitely have interest and people will undoubtedly be interested. But there is a difference between Everton and Chelsea and Manchester United and Manchester City and Liverpool. Because obviously they are global at the moment that deals that they can do. And Everton, I mean obviously they're operating a global market but they don't have that global pull. And that's partly, in fact Chelsea is the city's case purely down to global success if you're like winning the Premier League. Being constantly in Europe, Champions League, lots of stages where Chelsea won last year didn't they? And that affects price but you're right. Chelsea figure is phenomenal and Manchester United I've seen a recent valuation of them at 6 billion. And I would say that is not ludicrous. I would say that is not ludicrous even given the position that they're in at the moment. Because they have that still have a global sort of... All the metrics social media advertising contracts they're still the biggest in the Premier League. And probably second and third biggest probably in Europe. So 6 billion is not outrageous evaluation there. So a sixth of Manchester United, it doesn't sound outrageous either does it? But Everton have got a few... I think you're right, I don't get me wrong I'm not putting Everton in that same bracket as Manchester United or Chelsea of course. I'm not globally we're not commercially we're not but I just meant the league as a whole. I mean I'm Manchester United playing in the same league. You know it's talking 6 billion and maybe 600 million for Everton if you didn't include the stadium in it. Ten times as much for the league, a team playing in the same league. It is you know that's like I said before that's what you're buying into. But they are crazy figures we're talking about. But as you said right at the very start the Premier League is sports franchise. It's franchise is getting all Americanized there but sports clubs in the world is... That's what they call it. Well that's it isn't it but sports clubs in the world it's unbelievable. And the Premier League just seems to be growing and growing and growing with the value. You know maybe these business analysts might look at it and go actually you know what it's not that bad a price. It seems mad to me but you know that seems to be where we are. Well I mean when you say let's say Mishiri does take a loss on his investment. And we factor in the stadium bill cost and the price comes in around a billion pounds. A billion pounds in a brand new stadium which is state-of-the-art and has all the commercial things that they would need. But you know all the facilities sponsors etc. But that around a billion pounds gives you a massive advantage over three quarters of the rest of the Premier League. So you suddenly your income is immediately driven. Your ability to attract new sponsors is grown massively. So if you're looking over a two or three year period I think okay at the end of it there is this state-of-the-art stadium. You know you'd certainly say top number at top number valued at that figure now. And then you know Everton in that position. But it's just coming back to how you view Everton's books at the moment. And also their performance over the last you know under Mishiri the performance. You can't look at any other way of saying it's been a disaster. Mostly I've got to say mostly because of him some of the decisions he's made as we both know. We've discussed many times some of the decisions he made are just staggering. And he did make these decisions. Let's not hide from that fact. Benitez Aledais he made those decisions. And some of the signings that they've made. No he doesn't make them. But he made the decisions on appointing the people who made those signings. And you know it's just massive gross incompetence from him. Absolutely. And you've got all that to deal with before Everton become a really... The entity that we're talking about when they go in the new stadium with all these advantages and getting all these commercial contracts and becoming this global club. That's all there but you've got to sort all that out first. You've got to sort out Mishiri's legacy if you like. And that's not easy. No absolutely. All right final one and then I will let you go and enjoy the rest of your day. Do you actually think he will end up selling in this window? Do you know? An altered soft question by the way. I'm not convinced that these current people, Kenyon and his backers. And by the way I mean you're going from an owner who previously had close business ties with someone who had close business ties with Vladimir Putin. To a potential buyer who's got very close business ties with Donald Trump, Steve Bannon and the Chinese government. So I mean frying pan and fire just jumps out. But I'm not convinced by it by Kenyon and his consortium. But there are others and I believe there are at least one other that is serious if not two. So yes I could see it happening. But I would say Mishiri's going to probably almost certainly have to take a loss on his investment. Will he do that? Maybe not. I still think he will think once they get into the stadium he's bound to make a profit and can he fund the losses and not need the money. And then it comes back to what I said earlier and I don't want to go over that too much. Does anybody else need the money out of Everton? Then that's the key question. If they don't then they could decide well actually all the things that are making it saleable are the reasons to keep it. But I could see another buyer actually buying before the end of this summer. Interesting. David thank you very much for taking the time. I'm sure the story is going to run and run. And I'm sure there will be many more pieces for you to pen. Well not to pen but you know get on the type out on your computer there before the summer is out. I could do with a holiday mate so I'm hoping. Definitely have your holiday first and I'm sure it will run and run. Thanks for taking the time out today. Go on great to speak to you again. And you mate look after yourself. Yeah cheers. Big thanks there to David Mather from the Mirror for joining us on the consortium. This is going to run and run I think throughout the summer. So it is a watch this space. Let us know what you think in the comments section below. Do you think Farab and Shady will sell up this summer? Do you think it will be to Peter Kenyon's consortium? We'll have to wait and see. Thanks for watching. See you later.