Saudi Royal Joins $510m Bid to Buy Everton Football Club: Report
An unnamed member of the Saudi royal family is part of a consortium of investors to have made a $510m offer to buy Everton football club.
The Premier League side has been dogged by off-field problems and ongoing takeover speculation since British-Iranian businessman Farhad Moshiri agreed to sell his commanding 94 per cent stake to American investors 777 Partners in September of last year.
Following a protracted takeover 777 Partners have been unable to close the deal to buy Everton, leaving rival bidders ready to pounce.
Saudi royal joins Everton takeover consortium
According to a report by the BBC, London-based businessman Vatche Manoukian is leading a consortium of investors to take over the club.
Without naming individual investors, the report claims funding will be provided by a member of the Saudi royal family as well as high-net-worth families in the United States.
The consortium is thought to be planning a long-term investment in the club and is willing to invest in attracting new players to the club as well as building a new stadium in the city of Liverpool, where Everton Football Club is based.
Everton are close neighbours to Liverpool, the most successful football club in England with a total of 69 trophies, including a record six European Cups.
The EPL side are considered to be a “sleeping giant” of English football. Despite nine top-flight season trophy wins, Everton has not lifted a league title since 1987 and has no domestic trophies since 1995.
