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US investment firm in ‘driving seat’ to takeover Everton despite 777 links

US investment firm in 'driving seat' to takeover Everton despite 777 links

The Everton ownership saga has taken a fresh twist as current majority shareholder Farhad Moshiri opens talks with A-Cap, a financial group with strong ties to 777 Partners.

According to The Telegraph, A-Cap have emerged as serious contenders to buy Everton and are trying to convince Moshiri they can take control of the club.

Led by New York-based chief executive Kenneth King, A-Cap had seen their initial interest dismissed due to their connections with 777.

The investment firm are under immense pressure from the United States (US) authorities to distance themselves from 777, which led to King’s initial offer being dismissed.

However, King has re-entered the picture despite the earlier setback, and Moshiri is now reportedly in active discussions with him over a potential Everton takeover.

A-Cap are now reportedly in the driving seat to purchase Everton, with King fiercely motivated to secure an agreement given that he already has money tied up in the club.

Moshiri is hesitant to rush into a decision and wants to assess all his options, but he needs to settle on a prospective buyer and agree broad terms before the 2024/25 season starts.

Several interested parties have signalled a willingness to fund Everton’s operational costs immediately as they seek a period of exclusivity to discuss takeover terms with Moshiri.

Two multimillionaire lifelong Everton fans, Andy Bell and George Downing, are also serious contenders to buy the club.

The pair are considered the fans’ favourites given their connection to the club, and have told Moshiri that they are the safest hands for Everton.

A consortium of Middle East and United States (US) investors led by London-based Armenian investor Vatche Manoukian has tabled a £400 million all-equity proposal.

MSP Sports Capital has a separate proposal to take control via equity and debt.

Roma owner Dan Friedkin is monitoring the situation, while Crystal Palace part-owner John Textor has walked away from negotiations.

Of all the interested parties, A-Cap is the most controversial takeover option, so it will be interesting to see how the saga unfolds.

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