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Football

10th Jun 2024

Saudi royal part of a £400m bid to buy Everton

Harry Warner

everton

Everton could be the latest Premier League side to turn to Middle Eastern ownership

A consortium which includes a member of the Saudi royal family has made a £400m bid to buy Everton.

The owner of the Toffees, Farhad Moshiri, had agreed to sell a 94% of the club back in September to 777 Partners, but the deal ultimately fell through.

This has left the ajar to other potential investors inciting a bid from a consortium led by London-based lawyer Vatche Manoukian and backed up by an annoymous member of the Saudi royal family as well as wealthy American families.

After Newcastle’s takeover in 2021, a buyout featuring a Saudi royal would be the latest in a string of takeovers from Saudi Arabia and on a larger scale Middle Eastern investors in the Premier League.

The Manoukian consortium are proposing an all-equity offer which would not take on additional debt and would aim to create a sustainable, long-term strategy.

Meanwhile there remains interest from other groups in the sale of Everton with two lifelong fans and local businessmen Andy Bell and George Downing teaming up with MSP Sports Capital looking to stake a claim for the club.

American billionaire and Roma owner Dan Friedkin has also expressed interest in the Merseyside club.

The decision by current owner Farhad Moshiri to sell the club coincides with the construction of Everton’s new stadium which is expected to be completed by the 2025/2026 season.

Fans at Goodison Park have been left unhappy recently with the club flirting with relegation in the previous seasons, finishing 15th last year while receiving a 10 point deduction for breaking profit and sustainability rules.

Everton’s fan advisory board (FAB) sent an open letter to the future buyers of the club with a list of concerns and considerations.

The letter asked for open, transparent and regular communication with the supporter base.

The fan group wrote: “As one of the greatest sporting institutions in club football, we hope any new ownership will nurture, invest, and most importantly, acknowledge that their role as the steward of Everton FC is to run the club in partnership with the supporters in a way that recognises its heritage, sustainability, creativity, and commercial potential.”

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