Everton takeover hits ‘major roadblock’ – Keith Wyness reveals all
Everton’s former chief Keith Wyness has claimed the court case between A-Cap and Leadenhall is not likely to be a “major roadblock” in the takeover process.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – admitted there can always be a “last-minute shock” when the legal system is involved.
The Friedkin Group returned to agree an Everton takeover earlier this week after pulling out in July over headaches about the mess left by 777 Partners.
A-Cap have assumed 777’s share in the club but have been prevented from selling it by a court case brought by Leadenhall in New York – with court approval needed before a deal is done.
However, The Athletic claim (23 September) the Friedkin Group will pay almost £200million to clear the loan – with the remaining balance made up of payment-in-kind notes and warrants.
Leadenhall and the court will need to approve that deal but the report claims that is likely.
A-Cap court battle is not ‘major roadblock’ in Everton takeover, says Wyness
Wyness claimed “every legal expert I’ve spoken to has said this [the takeover] should still go through”.
He told Football Insider‘s Insider Track podcast: “There is one main issue apart from the regulatory authorities – the Premier League, FA and FCA.
“The other big issue which needs resolving is the Friedkin Group presenting a structure to a judge in the Leadenhall v 777 Partners court case.
“I understand A-Cap, who are representing the 777 side, have agreed to this.
“It still has to be agreed, although all the noises are suggesting the judge will approve it.
“Still, when you’re involved in the legal system – there can always be a last-minute shock.
“But I really don’t think this is a major roadblock. Every legal expert I’ve spoken to has said this should still go through.
“Everything’s moving forward now and they’ve had the experience of buying Roma, they know what they are doing.”
In other news, Everton set for January signing blitz as takeover deal agreed.
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