Despite the behind-the-scenes troubles at Everton, there are plenty of investors eager to take over the storied old club. Fans could be forgiven for anticipating the worst after learning that Dan Friedkin had walked out of Everton negotiations after Farhad Moshiri named him the favored bidder. The Roma owner’s advisers are thought to have dissuaded him after learning the full extent of Everton’s debt problems.
The Toffees owe £200 million to Miami-based investment group 777 Partners, which lent the money to Everton as part of their own effort to take over the club earlier this year. There are a lot of legal complexities surrounding that debt, and while none of them include Everton, Friedkin is believed to have decided the concerns were not worth the risk. However, a number of investors continue to remain interested. In the last 24 hours, there have been two significant developments surrounding persons who Moshiri could potentially announce as his next preferred bidder.
Kevin Malon updates Everton’s takeover stance; John Textor latest. Earlier this summer, it was widely speculated that Crystal Palace co-owner John Textor was considering an investment in Everton. To comply with the Premier League’s conflict of interest laws, the American multi-club millionaire must first renounce his position in Crystal Palace. However, according to The Guardian, Textor is in active talks to sell his ownership in the club and is understood to have rejected three offers thus far as he seeks a significant return on his investment.
He is confident enough to have made a formal bid for Everton, which would be the latest addition to his ambitious intentions to grow his football empire. Textor has acknowledged to Brazilian media that he is preparing an IPO with the goal of eventually listing his Eagle Football Group on the New York Stock Exchange. He is seeking to raise £160 million. According to GiveMeSport journalist Ben Jacobs via X, former LA Dodgers general manager Kevin Malone is still considering an Everton takeover.
TBR Analysis: When will the Everton takeover be finalised? Aside from the debt concerns, Moshiri wants up to £50 million for his Everton shares, which may be the most significant barrier to a takeover. While it is debatable whether the club’s debt exceeds the value of his equity, few analysts would argue that his shares are worth that much. Moshiri is thought to have set an eight-week timetable for a buyer to execute an Everton acquisition, although this is viewed as extremely impossible given the complexities of the situation.
Even after a preferred bidder has been picked for closed discussions and the 777 has been resolved, Everton will want Premier League approval. As shown with 777’s first effort to purchase the club, this can take some time.
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