- The consortium, led by London-based businessman and lawyer Vatche Manoukian, includes an unnamed Saudi royal and high-net-worth families from the United States.
- Manoukian is a partner at tech investment firm IMS Digital Ventures and is backed by the Myer family of Australia.
- The bid aims to acquire the 94% stake currently held by Farhad Moshiri.
Newsypeople- A consortium led by London-based businessman and lawyer Vatche Manoukian, backed by an unnamed Saudi royal and high-net worth families from the United States, has submitted a £400m bid to acquire Premier League club Everton.
This bid comes after Farhad Moshiri, the current owner, failed to finalize a deal with 777 Partners, who had agreed to purchase a 94% stake in the club.
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Manoukian’s consortium proposes an all-equity offer, which would not add to the club’s debt and aims to establish a sustainable, long-term strategy.
They view Everton as a “sleeping giant” in English football, with the potential to reclaim its place among the world football elite through the construction of a new stadium at Bramley-Moore Dock.
The consortium includes American investors, the Australian Myer family, and Manoukian himself, who is a partner at tech investment firm IMS Digital Ventures.
🚨🚨| JUST IN:
— FootballMania (@FootballMania91) June 10, 2024
A consortium of international investors, which involves a member of the Saudi royal family, has made a £400M offer to buy Everton!
[@ShamoonHafez] 🔵🔵 #EFC pic.twitter.com/bS2ZjeWoO3
Manoukian has established connections with Everton’s current debtholders, including MSP Sports Capital, Andy Bell, and George Downing, who have extended around £158m in loans to the club.
Manoukian and his group believe they can contribute business, tech, and digital expertise to Everton, which they see as a potential giant in the English football scene.
They are impressed by the work of manager Sean Dyche and director of football Kevin Thelwell in maintaining Everton’s Premier League status on a limited budget in the last two seasons.
The bid is part of a larger trend of Middle Eastern ownership in the Premier League, following the takeover of Newcastle United by Saudi Arabia’s Public Investment Fund in 2021.
Everton’s fan advisory board (FAB) has sent an open letter to prospective buyers, calling for “open, transparent, and regular engagement” with supporters.
The board hopes any new ownership will nurture, invest, and acknowledge the club’s heritage, sustainability, creativity, and commercial potential.
The bid is currently under consideration by Farhad Moshiri, and Manoukian is prepared to expedite the process if his offer is accepted, aiming to finalize the deal within the next couple of months.
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