Consortium planning to buy Everton won’t waste money in the transfer market

Everton’s prospective new owners will not engage in reckless spending if their purchase is successful (Peter Byrne/PA)

The consortium in discussions to buy Everton have deep enough resources to complete the purchase without the need for a leveraged buy-out but will not be engaging in the kind of wasteful spending seen under current owner Farhad Moshiri.

A group spearheaded by former Manchester United and Chelsea chief executive Peter Kenyon and bankrolled by United States real estate tycoon Maciek Kaminski and billionaire mining and investment magnate John Thornton are engaged in exclusive negotiations to purchase the Toffees.