Everton Exclusive: Extraordinary ‘£1bn’ reveal – official documents filed
Everton have undergone almost £1billion of restructuring since The Friedkin Group (TFG) completed its takeover at Goodison Park.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider the new owners are likely to purchase the remaining shares to take full control of the Merseyside giants in the near future.
A Companies House submission published on 8 January revealed £233million was paid into Everton for more than 1.3 million shares.
It also showed former owner Farhad Moshiri has converted almost £451million worth of loans into 150,250 shares, which were acquired by TFG as part of the takeover deal.
The Texas-based company, which is spearheaded by Dan Friedkin, was confirmed as the new owner at Goodison on 19 December.
Friedkin acquired a 99.5 per cent stake in the club after bringing to an end Moshiri’s eight-year spell on Merseyside.
Everton shareholders wiped out after Dan Friedkin injection
Borson revealed the majority of Everton’s shareholders were wiped out following the £233million injection.
He told Football Insider: “There is nearly £1billion of restructuring that has gone into Everton since the takeover, which is what you would expect.
“They had £450million of Moshiri debt, so they did a big cash injection to pay that. That was at £3,000 per share, which was a very high number.
“Then they put the extra £233million in at a much lower level at £174, so that was massively dilutive.
“Effectively what happened is when they put that second tranche of cash in, all of the existing shareholders were effectively wiped out, so they will be at a very low level now and probably less than two per cent of the company.
“I would think what they will do eventually is a squeeze-out under the Company’s Act, where they can effectively buy back those shares for probably £174 per share.
“That will be that and they will be 100 per cent owned by Friedkin.”
In other news, Everton gem in advanced talks to join Notts County.
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