(Credit: Hasan Karim, Breaking Media)

Everton Takeover Exclusive: Big update tonight as new timeline revealed

James holds a degree in Sports Journalism and Communications (MA) from the Real Madrid Graduate School. He has experience working for a number of local news outlets as well as the Sunday Mirror and Real Madrid TV. James is from Scunthorpe and has an affinity with Scunthorpe United, but is also a huge West Ham supporter and an expert on all things to do with the Hammers. He started working for Breaking Media in July 2023, initially writing on the Club Sites, where he specialised in West Ham content, before moving to Football Insider – where he is now an expert in football finance, speaking regularly with Stefan Borson and Keith Wyness to generate high-quality content in all things related to finance in the Premier League, Football League, and Scottish Premiership.

Published on:

25 Sep 2024, 2:30 pm

Everton prospective owner The Friedkin Group could receive Premier League approval within the next six weeks to complete a takeover at Goodison Park, sources have told Football Insider.

Everton confirmed in a statement on 23 September the US firm – spearheaded by Dan Friedkin – has reached an agreement to purchase owner Farhad Moshiri’s 94.1 per cent stake in the club.

It comes after Friedkin, who also owns Italian side Roma, previously pulled out of talks to buy the Merseysiders in July due to risks associated with the £200million loan provided to the club by former prospective owner 777 Partners.

But those concerns have now been resolved, allowing the Texas-based company to reignite its interest and agree terms with Moshiri.

The deal, which is believed to be worth in excess of £400million, is now subject to regulatory approval from the Premier League, the FA and the Financial Conduct Authority.

Sources have told Football Insider there should be no issues in receiving the necessary approval and the process could be completed by early November.

Dan Friedkin hoping to complete quick takeover after Everton form

The deal has come as a surprise to many after John Textor appeared to be the frontrunner before Friedkin returned to the table.

But Textor’s biggest issue has been his 45 per cent stake in Crystal Palace, with Premier League rules forbidding ownership of two clubs in the same division.

That has allowed Friedkin to resolve his concerns around the 777 loan and jump ahead of his compatriot in the queue to complete a takeover.

The American, whose company has a net worth of £5.7billion, is already a lender to Everton after previously supplying a £200million loan to pay off a debt owed to MSP Sports Capital and provide working capital to complete the new stadium development.

(Credit: Getty Images)

Sources have told Football Insider Friedkin will be keen to complete the takeover well in advance of the January transfer window due to the Merseysiders’ perilous position in the Premier League.

Sean Dyche’s side currently sit second bottom in the table after claiming just one point from their opening five games of the new season.

In other news, Dominic Calvert-Lewin update after deal agreed.

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