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News
Everton set for crucial £400m takeover update on 4th July
It looks as though 4th July could prove to be a landmark day in the Everton takeover saga.
Everton owner Farhad Moshiri, who is struggling to fund the club at present, is courting takeover offers from a number of different groups after the collapse of his agreement with 777 Partners.
It appears that a consortium led by lifelong Everton fans and now creditors to the club Andy Bell and George Downing and finance in part by Michael Dell’s BDT & MSD Partners is favoured by supporters.
But there are many more horses in the race, which some reports suggest could now drag out as long as four months.
By that time, the United Kingdom will have a new government. And that could just be crucial to the Everton takeover.
General election result could be key to Everton takeover
One of the main responsibilities of the imminent independent regulator for English football is to implement a new owners and directors test.
The independent regulator bill was, until the election was called, making its way through Parliament and was due to be introduced later this year.
But a change of government will likely have a material impact on the substance of the bill.
The Labour Party released their manifesto today. One of the areas covered was the measures that Kier Starmer’s government would take to protect the interests of football fans.
It is widely believed that the Labour Party would expand the scope of the independent regulator and create a more stringent owners and directors test.
For any prospective new Everton owner, that would mean there would be more hoops to jump through to get a deal over the line.
A new Conservative government however, which would be likely to swing more libertarian, would have a less obstructive approach.
Either way, Everton will be awaiting the general election on 4th July with interest.
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Who is in the running to buy Everton?
As mentioned, the Bell-Downing consortium appears to be the favourite among fans.
MSP Sports Capital, who have an existing financial relationship in the form of a huge loan to the club to protect, are also among the frontrunners.
AS Roma owner Dan Friedkin has also been linked, as had Crystal Palace co-owner John Textor. However, their existing links to those clubs would make a deal very difficult to do.
An unnamed Qatari group had been contacted too, while London-based lawyer-turned-businessman Vatche Manoukian and backed by a Saudi royal are also in the mix.
There are nine groups or individuals to have been linked in total.