JUST IN:”Everton Owner Moshiri Faces Critical Decision Amid Multiple Ownership Offers…Read more
“Moshiri Weighs High-Stakes Offers as Everton’s Future Hangs in the Balance”
After experiencing a lack of interest in the past, Everton is now suddenly inundated with potential ownership offers, if current media reports are to be believed.
One such bid comes from Vatche Manoukian, a London-based businessman with Middle Eastern ties. Manoukian, who has a Lebanese background, resides in the UK’s capital.
On paper, Manoukian’s offer appears strong, backed by his successful tech career and wealthy supporters from the US and Australia. He plans to make an all-equity bid, which suggests he won’t rely on debt financing that could burden the club.
This is particularly beneficial given Everton’s existing debts to various parties, including former takeover contenders 777 Partners and MSP Sports Capital, who remain interested in the club.
Manoukian’s financial strength and expertise could represent a significant shift in how the club has been managed recently. Under Farhad Moshiri’s ownership, Everton has been marked by frequent managerial changes, excessive spending on mismatched players, and growing debt amid declining team performance.
This turmoil led to Everton fighting relegation in the last three seasons and suffering an eight-point deduction last season for breaching PSR.
While the prospect of breaking this cycle is promising, the potential involvement of Saudi Arabian funds in Manoukian’s bid could be controversial, especially considering ongoing scrutiny of Middle Eastern investments in Premier League clubs. Notably, Manchester City is facing over a hundred allegations of PSR breaches.
Additionally, the Saudi royal family’s existing investment in Everton’s rivals, Newcastle United, raises concerns about potential conflicts of interest and possible breaches of Premier League rules on ownership of multiple clubs. The resolution to this issue remains uncertain.
Regardless, while all Everton supporters are eager for a quick resolution, it is crucial for Moshiri to take his time and ensure that any new exclusive agreement addresses all concerns thoroughly. Moshiri’s past track record in this area has not been reassuring.
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