A member of Saudi Arabia’s royal family has now joined a consortium of international investors to complete the takeover of Everton, according to the BBC.
The British broadcaster reported via its online edition on 10 June that the consortium have made a £400million bid to buy the Toffees.
Farhad Moshiri will soon hand exclusivity to one of the contenders in the race with Andy Bell and George Downing, backed by the Dell family, are also interested parties.
La Gazzetta Dello Sport reported that a rich Saudi family was keen on the takeover, but it’s understood that it is someone from the royal family.
Everton may face Middle Eastern takeover concerns
The Toffees could face similar takeover concerns as Newcastle due to state involvement, potentially leading to a prolonged process and scrutiny over the intentions behind the bid.
Like Newcastle, Everton’s potential new owners, including a member of Saudi Arabia’s royal family, could raise questions about the motivations for the takeover, with some speculating it may be a form of sportswashing.
The Premier League’s owners’ and directors’ test will likely scrutinise the source of funds and the suitability of the investors, potentially delaying the completion of the deal.
Additionally, concerns over human rights issues and the political implications of Saudi involvement could lead to public opposition and increased media attention, similar to the situation Newcastle faced.
The process may take longer than anticipated, impacting the club’s stability and future planning.
