HomeSportsEverton: Consortium with Saudi royal makes £400m takeover bid

Everton: Consortium with Saudi royal makes £400m takeover bid

Date:

Related stories

Exeter Science boss appointed to head UK Science Park Association – South West

Sally Basker, chief executive of Exeter Science Park, has...

Nine-year-old boy killed in Christmas market attack named – latest

Athena Stavrou22 December 2024 13:41Eyewitness describes ‘war-like conditions’In the...

Guinness raids its Irish reserves to ease UK shortages amid gen Z demand

Guinness is raiding its reserves in Ireland to boost...

UK banks’ trust account exodus cuts lifeline for disabled people, says charity

People with disabilities are facing potential hardship because banks...
spot_imgspot_img

A consortium of international investors, which involves a member of the Saudi royal family, has made a £400m offer to buy Premier League club Everton.

Farhad Moshiri agreed to sell his 94% stake to 777 Partners in September, but the investment firm could not complete the deal, opening the way for others to make a takeover bid.

Local businessmen Andy Bell and George Downing, as well as MSP Sports Capital – who have lent the Toffees around £158m – are also in the running for a period of exclusivity after lodging bids.

London-based businessman and lawyer Vatche Manoukian is leading a bid alongside an unnamed Saudi royal and families with a high-net worth from the United States.

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

They see Everton as a “sleeping giant” of English football with potential to secure a place “at the top of world football again” through the new stadium being built on Bramley-Moore Dock.

Manoukian, 45, is a partner at tech investment firm IMS Digital Ventures and is backed by Australia’s Myer family.

Roma owner Dan Friedkin, Michael Dell of Dell Technologies and Kenneth King of investment firm A-Cap are understood to be interested too.

Saudi Arabia’s Public Investment Fund, which lists the country’s Crown Prince Mohammed bin Salman as chair, completed a £305m takeover of Newcastle in October 2021.

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img