Austute ManThe proposed takeover of Everton Football Club by John Textor has encountered a significant obstacle, as sources close to The Friedkin Group have revealed that they are yet to receive a proposal from the Crystal Palace co-owner regarding the £200million debt owed to them by the Toffees.
This development has raised concerns among Evertonians, who are eager for a resolution to the club’s financial woes. The current situation is dire, with the club facing a potential third points deduction due to Profit and Sustainability Regulations (PSR) breaches.
Textor is currently in talks with Farhad Moshiri over his ambitions to own the Merseyside club, but he must sell his shares at Selhurst Park first. However, the delay in resolving the debt issue has raised concerns about Textor’s ability to complete the takeover.
The Friedkin Group’s loan, which was invested before their takeover collapse, must be repaid in full should the ownership at Goodison Park change. This adds another layer of complexity to the situation, as Textor must navigate the repayment of this debt in order to complete the takeover.
Evertonians are desperate for good news, and the potential takeover by Textor is seen as a way to relieve the club’s debt and steer them away from further financial troubles. However, the delay in resolving the debt issue has only added to the uncertainty surrounding the club’s future.
The completion of the Bramley-Moore Dock Stadium could provide a much-needed boost to the club’s finances, but this is still some way off. In the meantime, the club must navigate the complex web of debt and ownership issues that threaten its stability.
Fans just want to know that their club is safe, and if that means getting Textor in to diminish the current debt and help steer them away from more financial troubles, then so be it. The sooner the debt is repaid to The Friedkin Group, the better.
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Amina Umar
