Newcastle United's Premier League rivals subject to £400m Saudi royal takeover bid

A consortium of international investors involving a member of the Saudi royal family has reportedly made a £400m offer to buy Everton.

Farhad Moshiri agreed to sell his 94% stake to 777 Partners in September. However, the period of exclusivity expired on May 31 and the troubled US investment group were unable to complete a deal or enter into alternative discussions.

A club statement read: "The agreement between 777 Partners and Blue Heaven Holdings Limited for the sale and purchase of the majority shareholding in the club expired today.

"The club's board of directors recognises the considerable level of financial support 777 Partners has provided the club over recent months and would like to take this opportunity to thank them for this. to operate as usual, while it works with Blue Heaven Holdings to assess all options for the club's future ownership.

"The board of directors would like to thank everyone connected to Everton for their patience over recent months and reiterate its commitment to providing further updates when it is appropriate to do so through the club's official communication channels."

A number of suitors have since come forward with local businessmen Andy Bell and George Downing, as well as MSP Sports Capital - who have lent Everton around £158m - are also in the running for a period of exclusivity after lodging bids.

And according to the BBC, London-based businessman and lawyer Vatche Manoukian is leading a bid alongside an unnamed Saudi royal and families with a high-net worth from the United States.

It’s claimed “Manoukian and his consortium have proposed an all-equity offer which would not take on additional debt and would aim to create a sustainable, long-term strategy.”

There is already Saudi influence in English football. The country’s sovereign wealth fund became majority owners of Newcastle United in October 2021 in a takeover worth £305m. Meanwhile, Championship side Sheffield United are owned by Prince Abdullah bin Mosaad bin Abdulaziz Al Saud.