Keith Wyness reacts as Farhad Moshiri makes £451m Everton move
Everton’s former chief Keith Wyness has claimed the club’s takeover is likely to go through before new Associated Party Transactions rules come in on 11 January.
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 Farhad Moshiri’s move to head off changes in the regulations are “positive news”, but more of a “precaution”.
According to The Guardian (28 November), Moshiri has agreed to convert his £451million loan to Everton into shares if the club has not been sold to The Friedkin Group by 11 January.
That is when new Premier League regulations on shareholder loans come into force, meaning the Toffees will be forced to pay interest on that figure – potentially leading to a new Profit and Sustainability Rules (PSR) breach.
Moshiri has already pledged to wipe out the debt when Friedkin takes over but the US billionaire is still undergoing the necessary regulatory checks.
Moshiri takes precaution with new Everton loan promise
Wyness told Football Insider‘s Insider Track podcast: “It’s positive news for Everton.
“There may still be some PSR questions if he did convert those shares.
“But the deadline is coming on 11 January for these new rules, and all I’m hearing is that Friedkin’s takeover will be done before then.
“It’s more of a precaution, than anything else. Things can be delayed, and things can slip – so it’s positive news that Moshiri has agreed to do this.
“The change in rules won’t stop any takeover going through, in any case.”
In other news, Michael Keane “to quit Everton and sign for new club next month”.
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