Everton two key players rejected terms and conditions and insisted leaving due toDan Friedkin loan repayment date emerges as default could hand him Everton ownership
George Overhill
George Overhill
Sun 8 September 2024 20:10, UK
Dan Friedkin’s loan to Everton is believed to have a repayment date of the end of June 2025, The Esk reports.
The Toffees blogger wrote for his website on 7 September that the former prospective new owner’s will be given the legal right to acquire the club from Farhad Moshiri in the event of a default on that money.
The loan, which is worth £200million [Liverpool Echo, 24 June], is secured against the Everton Stadium Development Company, which controls the new Bramley Moore Dock ground, and Blue Haven Holdings, the company through which Moshiri owns his 94.1% holding in Everton.
John Textor is now looking to buy the club after The Friedkin Group pulled out over uncertainty around previous loans from 777 Partners [The Athletic, 20 July].
John Textor now trying to buy Everton from Farhad Moshiri
The collapse of the Friedkin takeover was a major blow to supporters who thought they were finally within touching distance of a long-awaited new era at Everton.
It is an obvious illustration of the difficulties for any buyout at Goodison that the money put in from the Roma chief was to pay off cash provided after previous failed negotiations with MSP Sports Capital, only for his bid to be abandoned due to the circumstances surrounding yet another failed attempt by 777.
Textor has his own complications in needed to rid himself of the 45% share of Crystal Palace before he can start to tackle the Toffees situation directly, although Sky News reported on 26 August that he now has two offers from parties prepared to buy him out at Selhurst Park.
The American will have to pay his compatriot’s loan as part of any takeover, or else negotiate some other settlement [i News, 11 August], to negate the charge Friedkin has on Moshiri’s shares.
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John Textor
John Textor would need to sell his shares in Crystal Palace to buy Everton.
According to Paul Brown on 29 June there are some close to the takeover process who do not believe Textor is a serious candidate to take over, and they expect Friedkin to return to the table in the future anyway.
Given The Friedkin Group told The Esk (20 July) previously that they deemed the issues facing a takeover of the club to be “unresolvable” as things stand there will surely have to be significant developments regarding the money owed to A-Cap, and formally 777, for that to happen.
But there are still avenues for him to become the club’s new owner, even if Textor is currently in the driving seat.
In other Everton news, a European trophy winner is in the frame to replace Sean Dyche at Goodison Park.
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