Reports suggest that a Saudi royal has joined a $510 million bid to acquire Everton FC, potentially marking a significant investment in the English Premier League club.
A member of the Saudi royal family, whose identity remains undisclosed, is involved in a group of investors that has made a $510M offer to purchase Everton Football Club.
The Premier League club has faced numerous off-field issues and ongoing takeover rumours since British-Iranian businessman Farhad Moshiri agreed to sell his 94 per cent controlling stake to American investors 777 Partners in September last year.
Due to a lengthy takeover process, 777 Partners have been unable to finalise the purchase of Everton, allowing rival bidders to prepare their own offers.
Saudi Royal Joins Everton Takeover Group
According to the BBC, London-based businessman Vatche Manoukian is spearheading a consortium of investors aiming to acquire the club.
While not naming specific investors, the report suggests that a member of the Saudi royal family, along with affluent families from the United States, will provide the funding.
The consortium is reportedly planning a long-term investment in the club, with intentions to attract new players and construct a new stadium in Liverpool, the home city of Everton Football Club.
Everton is located near Liverpool, the most successful football club in England, boasting a total of 69 trophies, including a record six European Cups.
The Premier League team is seen as a “sleeping giant” of English football. Despite having won the top-flight title nine times, Everton has not secured a league championship since 1987 and has not won a domestic trophy since 1995.
