Everton Takeover Exclusive: Major Update as New Completion Date is Announced
Sources have informed Football Insider that Dan Friedkin is on track to finalize his takeover of Everton by the end of December.
In September, the Merseyside club confirmed that The Friedkin Group had reached an agreement to acquire Farhad Moshiri’s 94.1 percent stake in the club.
This deal follows an initial setback in July when Friedkin withdrew from talks due to concerns over a £200 million loan from former prospective owners, 777 Partners.
However, those issues have since been addressed, allowing Friedkin to resume negotiations and reach a deal with Moshiri valued at over £400 million.
Currently, Friedkin awaits regulatory approval from the Premier League, the FA, and the Financial Conduct Authority to finalize the acquisition.
Sources indicate that the process is progressing smoothly, with no unexpected issues emerging.
There is optimism that the takeover could be completed by the end of the year, possibly even before Christmas, should all proceed according to plan in the upcoming weeks.
An ongoing court case in New York involving Leadenhall, A-Cap, and the 777 debt has raised some concerns about the takeover’s timing.
A-Cap, which assumed 777’s share in Everton, cannot currently sell it due to a legal challenge from Leadenhall. Court approval is needed to resolve the debt and proceed with the sale.
However, sources have shared with Football Insider that those involved do not foresee the court case causing significant delays, as the necessary approval is expected soon.
Friedkin is already financially involved with Everton, having previously provided a £200 million loan to pay off MSP Sports Capital and fund the new stadium’s completion.
Everton is reportedly over £600 million in debt, reflecting financial struggles under Moshiri’s ownership in recent years.
Football Insider reported on October 23 that Friedkin’s takeover is expected to clean up Everton’s finances significantly.
The acquisition is anticipated to bring a financial reset, putting the club on a more stable footing and giving Friedkin near-total control over Everton.
