International consortium including Saudi royal family member makes £400m bid for Premier League club
In recent years, Premier League clubs have become attractive investment opportunities, with numerous teams gaining new owners from various parts of the world, particularly the Middle East.
The latest club potentially changing hands is Everton. According to the latest from BBC Sport, an international consortium, including a member of the Saudi royal family, has submitted a £400 million bid to purchase Everton.
This bid seeks to acquire the 94% stake currently held by British-Iranian businessman Farhad Moshiri.
The report details that Moshiri had previously agreed to sell his shares to 777 Partners in September, but that deal fell through, opening the door for new offers.
The consortium’s bid is led by London-based businessman and lawyer Vatche Manoukian and includes affluent families from the United States as well as an unnamed Saudi royal.
Manoukian aims to rejuvenate Everton, transforming them into an English powerhouse capable of regularly competing in European competitions.
Saudi’s growing influence in world football
Saudi Arabia’s growing influence in world football has become increasingly prominent in recent years, driven by significant investments and strategic initiatives.
One of the most notable developments is the rise of the Saudi Pro League, which has attracted some of the biggest names in football.
This shift is largely due to substantial financial backing, offering lucrative contracts that are hard to match by European clubs.
High-profile players such as Cristiano Ronaldo, Karim Benzema, Roberto Firmino, and Sadio Mane etc have all moved to SPL teams, drawn by the combination of attractive salaries and the opportunity to pioneer football in a rapidly developing market.
Additionally, Saudi Arabia’s Public Investment Fund (PIF) has extended its influence beyond domestic boundaries through the takeover of Newcastle United.
Under PIF’s ownership, Newcastle have seen the resurgence of the club, aiming to elevate the club’s status in European football.
And it looks like they have no plans of stopping, with eyes set on Everton next.
However, Manoukian’s consortium is not the only group interested in acquiring the Merseyside club.
Atleast 4 others buyers from around the world are said to be interested in the takeover, including AS Roma owner Dan Friedkin.
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