United Kingdom-based investor Vici Private Finance has tabled a fresh bid to buy Premier League club Everton, according to the Times.
Vici reportedly opened negotiations with Everton majority shareholder Farhad Moshiri months ago and recently presented concrete terms for buying the club.
The offer is intriguing due to its financial backing. The consortium has proof of funds exceeding £1 billion in cash. There will be no need for external borrowing, which could lead to a swift conclusion of the deal.
Vici is backed by at least two billionaire owner funds and they have significant financial muscle.
Beyond buying the club, Vici has a broader vision that incorporates provisions for short-term funding to stabilise Everton’s finances and a commitment to restructure and clear existing debts – estimated to be around £200-230 million.
Vici know the importance of the new stadium project and has already engaged with local authorities regarding the regeneration of the Bramley-Moore Dock area.
Keith Harris is leading the Vici bid. He is a familiar face at Everton. Harris served on the club’s board of directors under Moshiri.
The 71-year-old London-based investment banker and financier brings valuable experience in high-profile takeovers, having overseen Chelsea’s purchase by Roman Abramovich.
The collapse of the proposed sale to US firm 777 Partners in May opened the door for several interested parties.
Local businessmen Andy Bell and George Downing, backed by the Dell family office, have submitted a bid.
Rival offers have also come from MSP Sports Capital and a consortium led by London-based businessman Vatche Manoukian.
Roma owner Dan Friedkin and US firm A-Cap have expressed interest. They proposed that Moshiri retain majority ownership, a clause that could irk many Toffees fans.
Vici’s financial strength and commitment to long-term investment could prove a compelling offer. The coming weeks will be decisive in determining the ownership of the Merseyside club.
