Saudi Royal Backs $510 Million Bid to Acquire Everton FC: Reports

There are credible reports that an unnamed Saudi royal is bidding for the Premier League club Everton through a consortium that has tabled an offer of $510m (BBC sports). The club has encountered multiple off-pitch problems and an extended saga over the ownership takeover, following the acquisition of the 94 percent stake by the British-Iranian businessman Farhad Moshiri for the agreement for the sale to American investors 777 Partners in September last year. Nevertheless, the number remains undisclosed, and the acquisition is still with 777 Partners while other competitors can also tap interest.

Introduction of a New Consortium for ‘Fashion Now’ under the Leadership of Vatche Manoukian

This BBC report suggests that the new consortium will be headed by a London based businessman, Vatche Manoukian. While ordinary people are not directly involved as shareholders of the consortium, one member is from the Saudi royal family, and other members are super-rich families of the United States of America. They have a long-term business plan for the club in place, which entails the signing of fresh talent and the developmental of a new footballing arena in Liverpool.

Everton’s Legacy and Aspirations

Another Merseyside football club, Everton, which is rivals with Liverpool FC – one of the most successful English football clubs, is widely known as the ‘giant sleeper’ of English premiership. Everton has only secured nine FA Cup championships which was the last one in 1995 and nine champions league which was the last in 1987. This suggests that the investment plan designed by the consortium seek to lift the club from the current poor performing status to a previous world-class performing status.

Source and photo: BBC