Keith Wyness explains as Everton takeover hit by new £200m sticking point
Everton’s former chief Keith Wyness has claimed the timeline of Dan Friedkin’s takeover will hinge on the Leadenhall legal case in New York.
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 – insisted Premier League approval will be a “formality” for the US billionaire as that process gets underway.
The Friedkin Group, who agreed a deal in September to buy Everton owner Farhad Moshiri’s 94.1% stake in the club, is currently undergoing the regulatory processes before he can take control.
The takeover is also being held up by 777 Partners lender Leadenhall’s case against A-Cap in the US.
A New York court overseeing the legal battle involving 777 needs to approve the settlement of the £200million loan provided to the Merseysiders before the buyout is complete.
Friedkin has already been approved by the FA and Financial Conduct Authority (FCA).
Leadenhall case will dictate Everton takeover timeline, says Wyness
Wyness told Football Insider‘s Insider Track podcast: “There were four boxes that had to be ticked before Friedkin could come in.
“And the fourth one will dictate the length of the wait – it’s the Leadenhall vs A-Cap legal case.
“They’ve got to approve the £200million loan action.
“He’s already got two boxes ticked with the FA and FCA both approving him.
“The Premier League approval should be a formality. It usually takes this length of time, so that should be imminent.
“If the legal issue can be resolved then he could be in for Christmas.
“There is work being done already behind the scenes on the football side, based on Friedkin’s views. But we need them through the door as soon as possible to get some stability back.”
In other news, Sean Dyche under new Everton sack threat after takeover latest.
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