Consortium Led by Saudi Royal Proposes £400m Takeover Bid for Everton FC
Amidst Everton's 15th-place finish in the previous Premier League season, a consortium of global investors, including a member of the Saudi royal family, has presented a staggering £400m offer to acquire the renowned Premier League club. While Farhad Moshiri had initially agreed to sell his commanding 94% stake to 777 Partners in September, the deal faltered, paving the way for new contenders to vie for ownership. Local entrepreneurs Andy Bell and George Downing, alongside MSP Sports Capital, who extended loans totaling £158m to the Toffees, are also in contention, having secured a period of exclusivity following their bids.
At the forefront of the bidding war stands London-based businessman and legal expert Vatche Manoukian, joined by an unnamed Saudi royal and affluent American families. Their proposal entails an all-equity transaction, devoid of additional debt, with a vision to craft a sustainable, long-term roadmap for Everton. Identifying Everton as a latent powerhouse in English football, the consortium envisions reclaiming a pinnacle position in global football, leveraging the potential of the forthcoming Bramley-Moore Dock stadium.
Manoukian, 45, spearheads this endeavor, backed by the esteemed Myer family of Australia, with additional interest from prominent figures such as Roma owner Dan Friedkin, tech magnate Michael Dell, and investment stalwart Kenneth King of A-Cap. Notably, Saudi Arabia's Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, made headlines with its £305m acquisition of Newcastle in October 2021, underscoring the allure of Premier League investments.
As the prospective takeover gains momentum, Everton's fan advisory board (FAB) has issued an open letter to potential buyers, emphasizing the paramount importance of open communication and engagement with the club's supporters. With the previous takeover attempt by 777 Partners stretching over an extended period, culminating in the expiration of the sales and purchase agreement on 31st May, the FAB urges expeditious proceedings in the forthcoming acquisition process.
Echoing the sentiments of Evertonians worldwide, the FAB underscores the significance of nurturing the club's rich heritage, embracing sustainability, fostering creativity, and recognizing its commercial potential. As Everton stands poised on the brink of transformation, the anticipation mounts for a new era under prospective ownership, characterized by synergy between stewardship and fan involvement.
In conclusion, Everton FC finds itself at a pivotal juncture, with a multitude of prospective owners vying to steer the club into a prosperous future. As the bidding war intensifies, the promise of renewed investment and strategic vision looms large, offering Evertonians hope for a resurgence on both domestic and global stages. With fan engagement and heritage preservation at the forefront of discussions, the impending ownership transition holds the potential to redefine Everton's trajectory, cementing its position as a stalwart in the footballing world. As the club's faithful supporters eagerly await the outcome, the dawn of a new era beckons, promising excitement, ambition, and a shared commitment to Everton's enduring legacy.