Everton issue club statement on Dan Friedkin takeover

Everton have confirmed that a period of exclusivity has been granted to US billionaire Dan Friedkin over a potential takeover of the club.

Toffees majority shareholder Farhad Moshiri had been in talks with a number of interested parties over a sale of his 94.1% shareholding in the club following the collapse of the long-doomed bid from Miami-based 777 Partners at the start of the month.

The Friedkin Group, also owners of Italian Serie A side AS Roma, have now entered into a period of exclusivity with Moshiri which will allow them time to conduct due diligence on the club and its financial health. People familiar with the matter have told the ECHO that while there is a will on both sides to reach a positive conclusion it is not a deal that is set in stone as things stand.

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A club statement read: “Everton Football Club would like to provide fans and stakeholders with an update regarding new investment into the club.

“Blue Heaven Holdings (the company through which Moshiri owns Everton through) has received significant interest from several highly respected parties interested in investing in the club.

“The club can confirm today (June 21) that a period of exclusivity has been granted to The Friedkin Group to progress discussions to acquire a majority shareholding in Everton.

“All parties will now work together to conclude this process. In the meantime, the club will continue to operate as normal.

“When there is further news to share, it will be provided via the club’s official communication channels.”

A period of exclusivity can last between 30 and 60 days but can be extended if both parties agree. Sources have told the ECHO that the process will take as long as necessary for both parties to be satisfied and could be extended if required, although both were wanting a swift conclusion if possible.