Good News: Dan Friedkin takeover of Everton is almost done after UEFA intervention, acceptance of……..

Dan Friedkin, the prospective owner of Everton Football Club, has been handed a boost after UEFA released a statement accepting Manchester City and Girona, as well as Manchester United and Nice, into the Champions League and Europa League respectively. This move sets a precedent for future cases of multi-club ownership, alleviating concerns that Everton and Roma, also owned by Friedkin, may face issues competing in the same European competition.

Friedkin, an American businessman and multi-billionaire, has already made a positive impact on Everton, paying off £158 million in loans to MSP Sports Capital and providing further working capital to the club. His takeover is expected to bring much-needed stability to the Toffees, who have endured several years of profligacy and poor decision-making under current owner Farhad Moshiri.

However, concerns were raised about Friedkin’s ownership of Roma, with some questioning whether the two clubs could compete in the same European competition. UEFA’s rules on multi-club ownership, outlined in Article Five, state that no club participating in a UEFA club competition may hold or deal in the securities or shares of any other club participating in the same competition.

But the Club Financial Control Body (CFCB) of UEFA has now confirmed that Manchester City and Girona, owned by City Football Group, and Manchester United and Nice, controlled by INEOS, can compete in the Champions League and Europa League respectively. The CFCB accepted the admission of the four clubs after significant changes were made to restrict investors’ influence and decision-making power.

The move sets a precedent for future cases of multi-club ownership, including Friedkin’s ownership of Everton and Roma. Should the two clubs ever qualify for the same European competition, there is now a way around the issue, with the possibility of assigning shares to independent trustees through a blind trust structure, as seen in the cases of Girona and Nice.

This development will come as a relief to Everton fans, who have been eagerly awaiting Friedkin’s takeover and the stability it promises to bring. The Toffees have a rich history in European football, regularly competing in the UEFA Cup and Europa League under David Moyes. But it has been since the 2017-2018 season that the club last participated in European competition.

Friedkin’s aim will be to restore Everton to their former glory, competing regularly in European football and challenging for major honors. With his business acumen and financial resources, he is well-equipped to achieve this goal. And with the issue of multi-club ownership now resolved, Friedkin can focus on building a successful team at Goodison Park.

The news will also be welcomed by Roma fans, who have seen their club flourish under Friedkin’s ownership. The Italian outfit won the Europa Conference League in the 2021-2022 season and regularly compete in European competition.

In conclusion, Dan Friedkin’s takeover of Everton has been handed a significant boost after UEFA’s decision to accept Manchester City and Girona, and Manchester United and Nice, into European competition. The move sets a precedent for future cases of multi-club ownership, alleviating concerns that Everton and Roma may face issues competing in the same European competition. With Friedkin’s business acumen and financial resources, Everton fans can look forward to a bright future, both domestically and in European competition.