Amina UmarA dramatic twist has emerged in the Everton FC ownership saga, as a consortium of international investors, including a member of the Saudi royal family, has made a £400 million offer to buy the club.
This development comes after 777 Partners failed to complete their takeover bid, leaving the club back on the market.According to reports, the consortium, led by London-based businessman and lawyer Vatche Manoukian, has proposed an all-equity offer that would not take on additional debt and aims to create a sustainable, long-term strategy for the club. The bid is backed by an unnamed Saudi royal and high-net-worth families from the United States.This move marks a significant shift in the ownership landscape of English football, with Saudi influence already present in the sport.
The country’s sovereign wealth fund became the majority owner of Newcastle United in October 2021, and Prince Abdullah bin Mosaad bin Abdulaziz Al Saud owns Championship side Sheffield United.Everton FC’s board of directors has acknowledged the expiration of the exclusivity period with 777 Partners and thanked them for their financial support. The club will now assess all options for its future ownership, with local businessmen Andy Bell and George Downing, as well as MSP Sports Capital, also in the running for a period of exclusivity.The development has sparked interest among fans and observers, with many wondering what this potential takeover could mean for the club’s future. With the consortium’s commitment to a sustainable, long-term strategy, this move could bring stability and growth to Everton FC.
As the negotiations unfold, the football world watches with bated breath, eager to see how this saga will play out. Will the Saudi-backed consortium succeed in their bid, or will another suitor emerge to take the reins at Goodison Park? Only time will tell.
Sport nation
Amina Umar