Everton fans’ eyes may have lit up when they heard that a Saudi Royal was interested in acquiring a stake in their club but there is more to the news than meets the eye.
The Toffees have been up for sale for more than a year now, but the end of an exclusivity agreement between Farhad Moshiri and 777 Partners has now accelerated the process.
A number of investors have thrown their hat into the ring, including Crystal Palace co-owner John Textor, Everton lenders MSP Sports Capital and a group led by Evertonians Andy Bell and George Downing.
But reports that a consortium led by London-based investor Vatche Manoukian interested in a £400m all-equity deal also included a member of the Saudi Royal family were perhaps the most evocative.
However, one detail means that dreams of billions of petrodollars being pumped into the club might be somewhat premature.
Saudi Royal interested in Everton takeover may not have much influence
According to their official website, the Saudi Royal Family consists of over 15,000 members.
Most geopolitical experts, including the University of London’s Professor Simon Chadwick, agree that the number of individuals with real power within the family is somewhere between 1,000 and 2,000.
It therefore is unlikely that the would-be Everton investor, who at this stage is anonymous, would have the wealth on the scale that Everton fans might be imagining.
It is also overwhelmingly unlikely that they would have access to the state’s sovereign wealth portfolio, the Saudi Public Investment Fund.
That name will be familiar to most Premier League fans as the owners of Newcastle United – and that brings us on to the good news.
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Saudi-backed Everton deal would avoid Newcastle United conflict of interest issue
Dual ownership is a hot-button issue in football at present.
Man City and Man United have been given special license to play in European competition next season alongside sister clubs Girona and Nice, but this is a temporary arrangement with UEFA.
The governing body is clamping down on multi-club systems because of concerns about monopolisation and a supporter-led backlash to clubs’ losing their individual identities, among other issues.
Any deal for Everton that included a representative of the Saudi Public Investment Fund would naturally, therefore, attract intense scrutiny.
But it is highly unlikely that the anonymous Everton suitor would meet the threshold.
Everton can look to the precedent of Sheffield United and Prince Abdullah here, another Saudi Royal who is the owner of the until-recently Premier League side.