Farhad Moshiri, the 67-year-old British-Iranian owner of Everton, has listed the club for sale.
Before deciding to put the club up for sale, Moshiri had been exploring for outside investment for a few months. He is now soliciting proposals for the Premier League team that are greater than £500 million.
The 67-year-old is reportedly trying to reclaim his investment in the construction of the club’s new stadium, which is now being built in the dock district of Liverpool.
Several prospective purchasers have showed interest, and several of them were mentioned in connection with a takeover at the beginning of the season.
With only 15 points from their first 20 games of the current campaign, the Merseyside club is down in 19th place in the standings, marking Frank Lampard’s side’s poorest Premier League season start.
After years of unsuccessful transfer market recruitment tactics and a lack of investment, fans have demanded the resignation of the board while Lampard has been fired.
Ralph Hasenhuttl and Marcelo Bielsa are both on the club’s shortlist of potential new managers, but they have not yet been hired as a result of the fear of relegation.
Deloitte, an American financial services company, has been tasked with managing the club’s sale. Offers are expected for the Premier League underachievers, who were acquired by Moshiri in 2016 in a £200 million purchase for a 49.9% ownership.
