Simon Jordan gives verdict on Dan Friedkin Everton takeover after Farhad Moshiri 'carnage'

Simon Jordan believes that Dan Friedkin would bring about big changes at Everton if his prospective takeover is successful.

The US billionaire, who took control of Roma in 2020, is reported as now being the frontrunner to purchase wantaway majority shareholder Farhad Moshiri’s 94.1% stake in the club after several rival bids came forward following the expiry of 777 Partners’ Share Purchase Agreement.

Speaking on talkSPORT, former Crystal Palace owner Jordan said: “They [the Friedkin Group] have got the cash and the ability to do it off their own volition and not loading things with debt that never felt like a model Everton can sustain anyway.

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“Everton can’t sustain, going forward, a debt-servicing mechanism because their cash flow is already proved that. To load it with more debt wasn’t really going to work.

“You’ve got various people, one a very good mate of mine, George Downing, and his colleague Andy Bell, both very well financially. George, you’ll never see in the public domain so I’m going to be quite sensitive, but I understand both of these scenarios - whether that be Friedkin, Andy Bell or whoever else - have the means to be able to, within reason, what they want.

“The idea Everton were in some mortal jeopardy was something I never really contended with. Moshiri, on the other hand, is going to have to take a view rather quickly... because the idea that Everton can pull themselves through the summer - that you can pull through the TV revenues that will drop in August... you can’t because they have been assigned to other people to other debts.

“Moshiri himself is going to have to write cheques out to bankroll it so the quicker he gets into a situation where he aligns on a deal he wants to do, the less it’s going to cost him and the more he’s going to be able to extract what economically has been carnage for him. He will be taking a £500-700 million bath.

“Dan Friedkin has plenty of money. If you look at his background, his father owns huge Toyota franchises in America. They have plenty of cash. Everton will be moving in a direction, sooner rather than later, that gives them stability they haven’t had for some time.”