Everton takeover: Manchester City legal action could hold key for new owners
Would-be Everton owners and investors will be looking at Manchester City’s Premier League battle with interest
Other interested parties have also emerged, including a bid fronted by London lawyer and tech investor Vatch Manoukian, and a consortium of investors from the US, Saudi Arabia, and Australia, as well as John Textor, Dan Friedkin, and another interested party from the US fronted by a former MLS player.
With the important summer window opening later this week, and with much to sort out financially in terms of dealing with the debt burden and ensuring the club is compliant with profit and sustainability regulations, interest is expected to develop quickly, although Moshiri is understood to still be holding out for a fee for the club, as per his initial deal with 777, however, it is anticipated that his shareholder loans to the club of some £450m will be written off.
Whoever comes in will be operating in challenging financial circumstances, with the major part of any deal being the reduction of the debt burden on the club, which has major creditors such as Rights and Media Funding, MSP Sports Capital, Metro Bank, and Bell and Downing. Ensuring the completion of the stadium build at Bramley Moore Dock is also of paramount importance.
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