Friedkin Group takeover: ‘Dire’ Everton update
The Friedkin Group still have a significant amount of work to do to overcome a “dire financial situation” at Everton once their takeover of the club completes, as per a report from The i.
The US-based group remain on course to purchase a 94% controlling stake in the Toffees from Farhad Moshiri this week.
Moshiri is due to depart Goodison Park after eight years at the helm of the club, and will leave it with debts worth £600million.
Ahead of their takeover, the Friedkin’s are expected to “instantly transform” the finances but have a lock way yet to go to rectify the situation to give Everton a better financial outlook moving forward.
It is thought they have already paid Moshiri £200m since September to help the running of the club, but manager Sean Dyche is now said to be faced with having to with a “modest” January transfer budget.
The Friedkin Group will apparently pay around £40m to Moshiri for his stake in the club, reflecting its perilous financial situation when compared with how much other clubs have gone for recently.
Everton financial update highlights need for a takeover
Football Insider Opinion
These revelations do seem to underline just how important it is for the Toffees that this takeover is on the verge of completion.
The money and effort they have already put into the club in order to keep things going, as well as how much they are having to pay, highlights how unsustainable the situation has been.
Indeed, the fact they have already made this sort of effort could give Everton supporters confidence about what they can deliver once they take control of the club.
With that in mind the fact it seems as though a modest transfer budget could be on the cards in January is perhaps understandable.
It will help to maintain some financial stability amid the current situation, although the lack of reinforcements may put more pressure on Sean Dyche.
The Everton manager will be keen to make a positive impression on new owners given the scope for change after these takeovers, but may find it harder to do that if he can’t improve his squad next month.
In other news, a Ligue 1 club are plotting a January move for an Everton player.
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