Everton Ownership: Premier League Club in £400m Takeover Negotiations with Saudi Prince-Led Consortium

Everton have been given a lifeline amid their ongoing financial troubles, as a business consortium led by an unidentified Saudi Arabian royal family member has submitted a formal offer of £400 million to buy the club from current owner Farhad Moshiri.

The consortium is thought to include Vatche Manoukian, a London-based businessman and former finance lawyer, who is currently a partner at tech investment firm IMS Digital Ventures.

Previously, Moshiri attempted to sell Everton to investment firm 777 Partners, who also loaned them substantial sums of money. However, due to various issues, the takeover could not be completed. Moshiri acquired a 49.9% stake in Everton in February 2016, which increased to 94% in 2022. He has become unpopular at Goodison Park, with much of the club’s recent struggles attributed to him.

Everton fans are hopeful that this potential takeover will proceed smoothly. Their severe financial difficulties are well-known; according to a report from the Guardian, their total debt is around £550 million.

Any prospective buyers will need to clear this debt upon purchasing the club, meaning the consortium will need to spend nearly £1 billion to acquire the Merseyside-based team.

Toffees fans have grown increasingly restless, with the ownership saga seeming never-ending. Everton’s fan advisory board sent an open letter to potential buyers, stating: “Now is the time for us to look forward and turn our attention to the parties who are in the process of bidding for our club.

“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 its supporters in a way that recognises its heritage, sustainability, creativity, and commercial potential.”