Saudi royal part of Everton takeover bid
Farhad Moshiri agreed to sell his 94% stake last September
Abu Dhabi United Group and Saudi Arabia’s Public Investment Fund (PIF) might not be the only Gulf-based owners of Premier League sides soon.
According to BBC reports, a consortium of international investors, which involves a member of the Saudi royal family, has made a £400m offer to buy Premier League club Everton.
London-based businessman and lawyer Vatche Manoukian, who is a partner at tech investment firm IMS Digital Ventures, is at the helm of the bid to take over the side alongside an unnamed Saudi royal and families with a high-net worth from the States.
The group have proposed an all-equity offer which would not take on additional debt and would aim to create a sustainable, long-term strategy.
The BBC reports that they see Everton as a "sleeping giant" of English football with potential to secure a place "at the top of world football again" through the state-of-the-art new stadium being built on Bramley-Moore Dock.
The offer to but the club has sprung up after Everton’s current majority owner, Farhad Moshiri, agreed to sell his 94% stake to 777 Partners in September.
But the US-based investment firm couldn’t complete the deal, with the deadline for the sale of the club to 777 Partners now expired.
Fellow Gulf-based owners enjoys success
City Football Group, of which 81 per cent is majority-owned by Sheikh Mansour Bin Zayed Al Nahyan, Vice-President, Deputy Prime Minister of UAE, and Chairman of the Presidential Court, took over Manchester City in 2008, which has proved to be an astute bit of business.
Since the takeover, the club has won eight Premier League titles, three FA Cups, six League Cups, a Champions league and a FIFA Club World Cup, while the Citizens recently reported record-breaking revenues and profits following there Treble-winning season in 2023.
Revenues rose to £712.8 million, an increase of £99.8 million on the previous 12 months, and profits of £80.4 million, nearly double that of the previous year’s record of £41.7 million.
PIF, who are chaired by Saudi Arabia’s Crown Prince Mohammed Bin Salman, took over ownership of Newcastle in October 2021.
Since then, the club have enjoyed success on the pitch after qualifying for the Champions League last season for the first time in 20 years.