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Gregg gives up stake in Everton | Gregg gives up stake in Everton |
(about 3 hours later) | |
Everton director Paul Gregg has sold his 23% stake in the club to BCR Sports, marking the end of a power struggle with chairman Bill Kenwright. | Everton director Paul Gregg has sold his 23% stake in the club to BCR Sports, marking the end of a power struggle with chairman Bill Kenwright. |
Gregg and Kenwright formed True Blue Holdings to run the club but fell out in July 2004. | Gregg and Kenwright formed True Blue Holdings to run the club but fell out in July 2004. |
Gregg and his wife Anita have resigned from the board. | Gregg and his wife Anita have resigned from the board. |
Everton have not revealed who is behind BCR Sports, but BBC Sport understands that it is Robert Earl, founder of the Planet Hollywood restaurant chain. | |
The English-born businessman, who lives in Florida, has done a deal with the Greggs that values the Goodison Park club at between £80m and £100m. | |
The feud between Gregg and Kenwright over the future of the club erupted in the summer of 2004. | The feud between Gregg and Kenwright over the future of the club erupted in the summer of 2004. |
Gregg had wanted to take control of the club and called on Kenwright to resign. | Gregg had wanted to take control of the club and called on Kenwright to resign. |
Since then, an uneasy truce has existed with Kenwright and fellow director John Woods, who between them owned over 50% of the shares, always able to outvote Gregg on the board. | Since then, an uneasy truce has existed with Kenwright and fellow director John Woods, who between them owned over 50% of the shares, always able to outvote Gregg on the board. |
Gregg made his fortune with Apollo Leisure, which he built up into the country's biggest theatre owners before selling the company for £129m in 1999. | Gregg made his fortune with Apollo Leisure, which he built up into the country's biggest theatre owners before selling the company for £129m in 1999. |
He was introduced to the club by Kenwright - the pair had originally planned to build a new stadium and entertainment arena on the Mersey river front but the scheme collapsed. | He was introduced to the club by Kenwright - the pair had originally planned to build a new stadium and entertainment arena on the Mersey river front but the scheme collapsed. |