Everton control battle continues

The embroiled control battle in the Premier Club between director Paul Gregg and Chairman Bill Kenwright continues. Gregg has challenged Kenwright for failing to clear some of the club’s debts amounting around £30m, and claimed he has £15m of his own backing to take control of the club, but only if Kenwright relinquish his control. Gregg, Kenwrith and others own True Blue Holdings which is the company who owns 72% of the club. Although Kenwright held discussions with Russian businessman Boris Zingarevich, Russia largest paper manufacturer, for investing £20m through his Brunei-based Fortress Sports Fund in return for a 40% stake in the club, Kenwright has announced that the club’s board of directors has secured an undisclosed amount of ‘alternative’ funding which will not lead to a new share issue at this time but one that may follow in the future. However, Zingarevich's spokesman has denied talks of any investment “Zingarevich is not planning to buy Everton directly or indirectly, and this applies to his son and any investment funds” he told media.

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