The Premier League club are very much for sale, as owner Farhad Moshiri wants out.
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Moshiri was backed by Russian money, which has vanished since the Russia-Ukraine war.
Per The Athletic, Manoukian is leading a group of international investors to buy the club.
They are set to put in a £400 million all-equity bid to secure the Goodison Park team.
The deal is said to include Andy Bell and George Downing, who are businessmen and lifelong Toffees fans.