Everton takeover: Friedkin Group visits new stadium as deal to buy club continues at pace

-Credit: (Image: Massimo Insabato/Mondadori Portfolio via Getty Images)
-Credit: (Image: Massimo Insabato/Mondadori Portfolio via Getty Images)

The proposed takeover of Everton by US billionaire Dan Friedkin continues to move at pace with representatives of the Friedkin Group in Liverpool this week.

Last week it was confirmed that current Everton owner Farhad Moshiri had granted a period of exclusivity to Friedkin, the owner of Italian Serie A giants AS Roma, after agreeing a deal to sell his 94.1% shareholding.

The exclusivity agreement, which can last up to 30 or 60 days and could be extended if agreed by both parties, allows for the buying side to conduct due diligence into the financial health of the Blues, gaining access to the club’s data room, and leaving Moshiri unable to engage in talks, or solicit interest, with other potentially interested parties.

READ MORE: Friedkin Group has already paid off £158m MSP loan that stopped 777 Partners from Everton takeover

READ MORE: Dan Friedkin Everton takeover takes step forward as major move confirmed

At the start of this week representatives of the Friedkin Group flew over from the US to visit Goodison Park, the club offices, and the site of the new 52,888-seater stadium at Bramley-Moore Dock, which is set to open for the start of the 2025/26 season, as part of normal due diligence, according to people familiar with the matter. Neither Dan Friedkin or son Ryan were part of the delegation.

Sources have told the ECHO that the due diligence will ‘take as long as required’ for the Friedkin Group to be satisfied that no nasty surprises will be thrown up, and the potential owners have already taken one significant stride forward in demonstrating their intentions.

Last week a charge was registered against the Everton Stadium Development Company Limited on Companies House by the security agent TDF Capital Managment LLC, part of the Friedkin Group.

That charge signifies the stadium being used as collateral for a loan from the company that replaces the £158m loaned to the club last year by New York-based MSP Sports Capital, who had been one of the interested parties following the collapse of the long-doomed takeover bid by 777 Partners at the start of June.

No timeframe has been set for completion of the takeover deal between Moshiri and Friedkin, but both parties are said to have a ‘strong desire’ to get the deal done, but only provided that due diligence does not throw up any insurmountable problems.

With many of Everton’s financial problems having been aired in public over the past 12 months, and with one of the major hurdles that 777 Partners could not clear - which was the repayment of the MSP loan - having been sorted, there is growing confidence that a deal will materialise.