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Report: Everton’s Future Hangs on £400m Investment

Exciting Bid to Transform Everton’s Future

Everton FC, a club rich in history and tradition, has recently been the focus of significant investment interest. The latest development involves a £400m all-equity bid led by Vatche Manoukian, an ardent Everton supporter and London-based businessman. This move promises to bring financial stability and a long-term strategy that could rejuvenate the club, report The Independent.

Vatche Manoukian’s Strategic Approach

Manoukian’s offer was presented to current owner Farhad Moshiri on Friday, with follow-up discussions involving Everton’s majority shareholder over the weekend. Over the past few weeks, Manoukian has been meticulously planning his approach, ensuring that his proposal is robust and well-received. His bid, notably, does not involve adding more debt to the club, which has been a significant concern for many fans. Instead, he aims to provide operational cash and implement a sustainable long-term strategy.

Diverse Consortium Backing

Manoukian is not alone in this venture. He has assembled a consortium that includes American investors, a Saudi royal, and the Australian Myer family, known for their substantial net asset value of around $1.5bn. This diverse group brings a wealth of business, tech, and digital expertise, marking their first foray into football. They view Everton as a “sleeping giant” and are particularly excited about the potential the new stadium at Bramley-Moore Dock holds for the club’s future.

Financial Landscape and Debtholder Discussions

In preparation for this bid, Manoukian has held talks with Everton’s current debtholders. The club owes significant amounts to various entities, including £160m to MSP Sports Capital, Andy Bell, and George Downing, and £225m to Rights & Media Funding. Additionally, Everton was loaned approximately £200m by 777 Partners during a previous buyout attempt, with A-Cap now taking over the Miami-based firm’s interests.

Despite this complex financial landscape, Manoukian’s bid stands out due to its potential for immediate action and positive reception. He aims for a swift conclusion, ideally within the next couple of months.

Hope for Everton’s Future

Manoukian and his team are confident in their ability to restore Everton to their former glory. They are impressed with the efforts of manager Sean Dyche and director of football Kevin Thelwell, who have managed to retain Premier League status on a limited budget over the past two seasons. This resilience is seen as a strong foundation upon which to build.

Other Interested Parties

It’s worth noting that Manoukian’s bid is not the only one on the table. Since the expiration of 777’s period of exclusivity at the end of May, at least three other parties have shown interest in purchasing Everton. Among these are Merseyside businessmen Bell and Downing, as well as MSP Sports Capital. Additionally, Crystal Palace co-owner John Textor has publicly expressed his interest in acquiring Everton, though this would necessitate selling his 45 percent stake in Crystal Palace first.

This competitive interest underscores Everton’s potential and the widespread belief that the club is poised for a significant turnaround. With Manoukian’s bid leading the charge, there is renewed optimism among fans and stakeholders that Everton can return to its traditional position at the top of the game.

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