DEAL CONFIRMED:The Friedkin Group have announce new ownership finally…
Dan Friedkin will inject more cash into Everton on top of his previous loan before he receives Premier League approval to complete the deal, Ben Jacobs reports.
According to the talkSPORT journalist via X on 23 September the American is to provide more “operational and stadium financing” in the eight to 12 week window it is expected to take for the league to give the go ahead.
Friedkin and Farhad Moshiri have reached an agreement for the Roma chief to buy the club, having previously backed out of a takeover bid in July when he had loaned £200million.
In addition, the i reported earlier on 23 September that “substantial investment” will follow a Friedkin takeover at Goodison Park.
Farhad Moshiri agrees to sell Everton to The Friedkin Group
Deeply divisive financial regulations in the Premier League, which Everton know all about, will likely prevent the takeover immediately spelling an end to the Toffees’ money complications.
But it looks like the announcement of Friedkin’s deal should finally blow away the actual fears on the subject which have plagued the club over the past couple of years.
The current cash reserves were predicted to run out by October or November if there wasn’t a takeover on the horizon [Kieran Maguire, 31 July] and thankfully there now is.
Reckless spending with little to show for it characterised the early years of the Moshiri era, until the picture switched completely in recent seasons as debts piled up, the new stadium cost increased and cash from the owner dried up.
Assuming Friedkin’s deal is confirmed before Christmas as expected the prospect of significant investment will excite fans who have been forced to get used to tight budgets and existential concerns.
It is hard to see this as anything other than a positive development and hopes will be high that the new regime is more capable than the outgoing one.
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