Everton takeover latest: Another twist as fan-led consortium submit £400m all-equity bid for Toffees

A report from The Independent notes that a £400 million ($509m) offer was made by Manoukian to Moshiri last Friday on behalf of an internatonal consortium that includes an unnamed Saudi royal, American investors and the Myer family from Australia. The proposal is believed to have been well received and does not involved levaraging more debt on the club, with £585m ($744m) owed to various groups. Manoukian is also reported to have already met with Everton's existing debtholders.

Moshiri had previously agreed in September 2023 to sell Everton to 777 Partners, a private investment firm based in Miami. But that deal fell through at the end of May and the American company's exclusivity period has now expired, opening up the process back up to other bidders instead. Moshiri's stewardship of Everton since 2016 hasn't translated to success on the pitch, with the Toffees qualifying for Europe just once and fighting against relegation in each of the last three seasons.

Manoukian is a lawyer and businessman based in London, currently a partner at tech investment firm IMS Digital Ventures. His consortium appears to be largely composed of relatively young member whose expertise and wealth have been built in tech and digital. But at least three other groups are believed to be interested too.

For Manoukian, speed seems to be of the essence. He is described as being "ready to move quickly" should his group's bid be accepted. That could mean a deal is concluded before the start of 2024-25. The takeover proposal includes both operational cash and a long-term strategy.