Everton takeover is facing ‘big issues…it’s not done yet’ – Stefan Borson
Everton still have “big issues” to overcome due to the £200million debt owed to 777 Partners as Dan Friedkin looks to secure a takeover at Goodison Park.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider paying off the £158million debt to MSP Sports Capital was an important step forward despite the money still owed to 777.
The US investment firm loaned Everton more than £200million to cover the operational costs after agreeing to buy the club last September, but it was unable to get the deal over the line.
The Friedkin Group has now become the latest party to be given the opportunity to take on Farhad Moshiri’s 94.1 per cent stake in the Merseysiders after agreeing a deal in principle with the club’s owner.
The takeover has moved a step closer after the Texan company has paid off the club’s £158million loan to MSP.
Everton takeover takes step forward after £158million debt paid off
But Borson warned Everton are “not out of the woods yet” despite Friedkin making progress in his bid to buy the club.
He told Football Insider: “Although Friedkin has paid off the £158million that was a key concern of the Premier League, there is the £200million debt owed to 777 that needs to be dealt with.
“Everton are not out of the woods yet in terms of their levels of debt.
“We don’t actually know what the deal is that Friedkin’s agreed with Moshiri.
“It’s not done yet and there are still, from a balance sheet perspective, big issues with Everton.
“But paying off the £158million was an important step forward and at least removes one of the elements of debt and obstruction in terms of the progress of a new buyer.”
In other news, Everton “confident” of midfielder deal as Tottenham swoop.
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