Kieran Maguire: Moshiri Receives Nine-Figure Takeover Bid for Everton
Kieran Maguire: Farhad Moshiri Has £400 Million Offer for Everton After Friedkin Group Deal Collapses
In an episode of The Price of Football podcast on 23 July, a football finance expert from the University of Liverpool highlighted concerns about a recent bid for Everton FC, stating that the numbers “don’t add up” because they do not address the club’s existing debt.
The offer, likely from the group led by Vatche Manoukian, had previously proposed a bid worth £400 million [The Athletic, 8 June], but Dan Friedkin’s group secured exclusivity first.
The Athletic’s Matt Slater suggested on 20 July that Manoukian’s group is the “most likely” to return with another bid.
Maguire explained (9m 45s): “There is an offer for around £400m from somebody in London, but that’s for everything. And if it’s £400m for a club that’s got debts of £600m, those sums don’t add up.”
He also noted that other interested parties might be “sitting on their hands,” waiting for a better deal in a “complicated” and “messy” situation.
Everton’s potential offer could be from the Vatche Manoukian group. The continued interest in buying Everton after Friedkin withdrew is a positive sign, despite the understandable concerns that any new bidders might face the same issues. Friedkin’s group branded these issues as “unresolvable” [Talking The Blues, 20 July].
Despite lending £200 million to the Toffees to reimburse their former takeover rivals MSP Sports Capital, and Evertonian pair Andy Bell and George Downing, the deal was finalized with an additional £200 million-plus from 777 Partners through A-Cap last season.
There is significant uncertainty regarding the future of that debt, with potential legal complications in the US. However, 777 and A-Cap have denied any wrongdoing [The Athletic, 20 July].
The bid’s failure to cover two-thirds of the club’s debt liabilities likely led to Manoukian’s initial dismissal as an unserious bidder [The Esk, 9 June].
Moshiri, Everton’s owner, may be disappointed in his hopes of a return on his investment, as it remains unclear how an offer that doesn’t cover the club’s debts could succeed.
Despite this, further offers are expected, and one unnamed party is believed to have a better chance of success than Manoukian’s group [Slater, 19 July].
