Everton to have spending power after significant takeover update – Stefan Borson
Dan Friedkin has deep pockets to be able to spend money on taking Everton forward if he can complete his takeover deal at Goodison Park.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider the American businessman’s firm – The Friedkin Group – is a “far better buyer” than 777 Partners.
777 were granted exclusivity last September in its bid to buy Everton, but the Miami-based company were unable to complete the deal.
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 New York investment firm MSP Sports Capital.
Dan Friedkin right buyer for Everton after 777 Partners issues
Borson insisted Friedkin is the right sort of buyer to take over Everton and the future is looking more positive for the club moving forward.
He told Football Insider: “Friedkin is a far better buyer for Everton than 777 were.
“He doesn’t have any of the issues 777 had and appears to have much deeper pockets. That is obviously critical in taking over Everton because of the debt.
“I’m sure Friedkin Group will be able to negotiate that debt on a more stable basis. On top of that, they have investment that is still required within the club.
“The club is still loss making on an operational basis and, therefore, it will need working capital over the next two to three years before the stadium starts to deliver additional revenue.
“There is the on-pitch investment that’s going to be required as well.
“Friedkin Group seems to have deep pockets and I suspect they’ll need them.
“But from a sort of positive next steps perspective for Everton, I think it’s very good news for them and the right sort of buyer.”
In other news, Everton “confident” of midfielder deal as Tottenham swoop.
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