EXCLUSIVE: Farhad Moshiri to find a new credit expert after Everton takeover twist..(Read full story in the comment section)

Everton Football Club is facing a significant challenge as it seeks to secure a new lender to take on the debt owed to The Friedkin Group. According to sources close to the matter, the club will need to find a new lender if a takeover deal is not completed before the end of the upcoming season.

The Friedkin Group, led by Dan Friedkin, was granted exclusivity in June after agreeing to a deal in principle with Everton owner Farhad Moshiri to take on his 94.1% stake in the club. However, the deal has reportedly collapsed due to risks associated with the £200million loan provided by 777 Partners to pay operating costs.

Friedkin had also supplied a £200million loan to pay off lender MSP Sports Capital and provide working capital for the new stadium development. The loan is secured against the new stadium on Bramley-Moore Dock and the equity of Blue Heaven Holdings, the company that owns Everton. This means that if the debt is not paid before the end of the upcoming season, Friedkin could take control of these assets.

Despite the collapse of the deal, sources believe it is “highly unlikely” that Moshiri will not have sold the club or found a new lender to take on the debt within the next nine months. The relationship between Moshiri and Friedkin remains intact, with Everton announcing that Friedkin will remain a lender to the club and is “proud to have played a key role in enabling the new stadium to be built”.

Former Everton CEO Keith Wyness has criticized Moshiri for the collapse of the Friedkin deal, suggesting he should have heeded warnings about 777 Partners earlier. The collapse of two deals has left Everton in a difficult position, with the club now owing over £600million to three external lenders.

Moshiri is now forced to seek a new deal, with a consortium headed by Kevin Malone set to make a new bid to buy Everton in the coming weeks. Malone was one of several interested parties looking to strike a deal for the club before Friedkin agreed terms with Moshiri last month.