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Everton fans must have thought that they had found their saviour when it was announced that wealthy Russian oligarch Boris Zingarevich, a rival of Roman Abramovich, was to invest in the club. There was even talking of hanging on to Wayne Rooney. According to press reports, Anton Zingarevich, 23, whose father, Boris, owns Ilim Pulp Enterprises, one of Russia's leading foresty products companies, is one of two partners of Fortress Sports Fund, which plans to take an initial 40 per cent stake in Everton through an injection of £20m. The offer apparently included an option to increase the stake above 50 per cent with an extra £10m investment. However, the secretive Zingarevich was not too pleased about his identity being leaked before the deal was finalised. He distanced himself from the deal through a statement made by his press secretary, Svyatoslav Bytchkov who said that Anton Zingarevich was a business school student specialising in sports and show business, without any money for investment. He said his only link to Everton was as a manager to the Fortress Sports Foundation which had carried out some consulting at Everton. 'He doesn't have any money and Boris would manage any investments himself', said Mr Bytchkov.
The club are more than £40m in debt, £30m of which is a long-term secured loan, although the repayments are only £2.4m a season. There is, however, a £5m overdraft to cancel and up to £10m which Everton owe clubs for past signings. The club were blocked recently in an attempt to sell their training ground at Bellefield for £12m. Little wonder, then, that fans held up the following banner at the first match of the season: 'From Sir John Moores [the club's first benefactor] to Death's Door - 125 years.'
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