Sport nationThe highly anticipated takeover of Everton Football Club by American businessman Dan Friedkin is expected to be completed within the next four to six weeks, according to finance expert Stefan Borson. This development comes after Friedkin’s company, the Friedkin Group, paid off the club’s significant debt of £158million to New York investment firm MSP Sports Capital.
Borson, who spoke exclusively to Football Insider, believes that Friedkin will have a relatively smooth process in completing his due diligence, as all necessary data is already in place. Additionally, Borson expects Friedkin to have had extensive discussions about the legal details surrounding Everton before the announcement, making it likely that the takeover will progress without any major issues.
The Premier League’s owners’ and directors’ test, which Friedkin must also pass, is not expected to pose a significant challenge, unlike 777 Partners, who were previously granted exclusivity but failed to complete the deal. Borson expects Friedkin to pass through the test relatively easily, paving the way for the completion of the takeover.
The takeover has been a long time coming, with 777 Partners granted exclusivity last September but failing to complete the deal. However, with the Friedkin Group now taking over, Everton fans can finally look forward to a new era of stability and growth.
The payment of the club’s debt to MSP Sports Capital is a significant step forward in the takeover process, and with Friedkin’s due diligence expected to be completed within the next few weeks, the future is looking bright for the Toffees.
In conclusion, the takeover of Everton Football Club by Dan Friedkin is expected to be completed within the next four to six weeks, according to finance expert Stefan Borson. With the club’s debt paid off and Friedkin’s due diligence expected to be a smooth process, the future is looking bright for the Merseysiders.
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