£158m loan pay off scheduled on Monday in fresh Everton takeover update – Paul Joyce

Dan Friedkin, the owner of AS Roma, is close to finalizing a deal to buy Everton Football Club, according to Paul Joyce of The Times. The American businessman has agreed to pay an initial £200 million, which will cover a £158 million loan and provide £30 million in working capital for the club.

Friedkin’s takeover is expected to bring much-needed financial stability to Everton, who have been struggling with debt and financial constraints. The club has borrowed £50 million from local businessmen Andy Bell and George Downing, and £80 million from MSP Sports Capital.The deal is expected to be finalized soon, with Friedkin set to be granted exclusivity on Tuesday after paying off the loan on Monday. He will then need to pass the Premier League’s owners’ and directors’ test, which is not expected to be a significant hurdle given his transparent business dealings.

Everton fans will be relieved to see the takeover saga come to an end, with the club able to move forward and strengthen their squad. The Toffees have been forced to sell players to avoid Premier League punishment, with Amadou Onana and Jarrad Branthwaite expected to leave the club this summer.Friedkin’s experience running AS Roma is expected to bring a new level of professionalism and expertise to Everton, with the club aiming to compete with the top teams in the Premier League. The takeover is a significant development in the world of football, with Everton fans eagerly anticipating the future under Friedkin’s ownership.The deal is a testament to Friedkin’s business acumen and his ability to negotiate complex deals.

His net worth of £4.9 billion makes him one of the wealthiest owners in the Premier League, and his commitment to investing in Everton is a welcome boost to the club.As the takeover is finalized, Everton fans can expect to see significant changes at the club, with new players and staff expected to arrive in the coming weeks. The future looks bright for the Toffees, with Friedkin’s ownership set to bring a new era of success and stability to the club.