Sport nationThe long-awaited takeover of Everton Football Club by American businessman Dan Friedkin is nearing completion, with the owner of Roma set to pay Farhad Moshiri a “minimal consideration” for his shares in the club. According to The Esk, the amount Friedkin will pay for the shares is a fraction of the total £900million required for the takeover, which includes equity and long-term debt.
The reported £25million payment for Moshiri’s holding in the club is significantly less than the £64million offered by 777 Partners in their failed bid last season. This disparity is attributed to the significant debt and capital required for the stadium development, which has reduced the value of the club’s shares.
Moshiri’s commitment to the previous deal was reportedly driven by 777 Partners’ willingness to pay a higher price, rather than their suitability for the club. In contrast, the Friedkin takeover process has been smoother, with the Premier League expected to approve the deal without issue.
The takeover has been complex due to the involvement of significant creditors and the new stadium development. However, with the deal nearing completion, Everton fans can finally see a new era on the horizon, bringing clarity to the club’s future.
Friedkin’s son, Ryan, is expected to play a key role in the club’s management, with the family’s ownership of Roma suggesting a long-term commitment to the sport. While the takeover may not be completed before the start of the new season, the progress made so far indicates a bright future for the Toffees.
In related news, a prominent figure at Goodison Park has revealed their departure from the club, signaling the beginning of a new era at Everton. As the takeover approaches completion, fans can expect more updates and changes at the club.
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Amina Umar