Dan Friedkin to agree Everton deal after confirmed news - sources
Everton owner Dan Friedkin is likely to take control of the remaining shares in the club over the next few months following his takeover, sources have told Football Insider.
Football Insider revealed on 12 November The Friedkin Group (TFG) was on course to complete its takeover by the end of December.
Everton confirmed on 19 December the deal has now been completed at Goodison Park after receiving approval from the Premier League.
Friedkin has acquired a 99.5 per cent stake in the club after bringing to an end Farhad Moshiri’s eight-year spell on Merseyside.
Sources have told Football Insider the American billionaire will likely sweep up the remaining shares over the next few months through a squeeze-out process.
That will ensure the 59-year-old owns a 100 per cent stake in the club and won’t be required to go through the costly process of providing shareholders with annual account reports or hold an annual general meeting.
Dan Friedkin to inject more money into Everton after deal confirmed
iNews reported on 19 December Friedkin believes he has got an “absolutely astounding deal” in buying Everton for “south of £40million”.
But finance expert Stefan Borson told Football Insider the American has likely paid around £700million to purchase the club when the price of the shares and taking on the debt are factored in.
Everton have faced various difficulties over the past couple of years after Moshiri struggled to keep on top of the financial situation at Goodison.
Borson told Football Insider Friedkin could inject a further £100million into the Merseyside giants to help pay the bills over the next year.
The Texas-based businessman, who owns Gulf States Toyota, Serie A giants Roma and other entertainment and hospitality businesses, has recently seen his personal wealth grow dramatically.
Football Insider revealed on 6 December Friedkin’s net worth has risen by £2.89billion over the past year to £9.95billion.
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