Dan Friedkin could complete his takeover deal to buy Everton in the next four to six weeks after paying off one of the club’s biggest debts.
According to financial analyst Stefan Borson, who spoke with Football Insider exclusively, the American businessman should have an easier time navigating the Premier League’s owners’ and directors’ approval process than 777 Partners.
Exclusive rights to purchase Everton were given to 777 in September of last year, but the Miami-based business was unable to close the deal.
After reaching an agreement in principle with the club’s owner, the Friedkin Group has now been granted the chance to acquire Farhad Moshiri’s 94.1% ownership position in the Merseysiders.
Following the Texan company’s repayment of the club’s £158 million loan to New York investment group MSP Sports Capital, the takeover has advanced.
Dan Friedkin to pass through Premier League test with ease
Before it was made public that Friedkin had settled the debt, Borson anticipates the two of them would have had lengthy conversations regarding the specific legalities pertaining to Everton.
“Now that Friedkin has to finish his due diligence, you would think it would be a relatively smooth process because all of the data will already be in the data rooms,” he said to Football Insider.
“I would anticipate that Friedkin would have had lengthy conversations with Everton’s contracts, legal specifics, and everything else prior to the announcement.
“Compared to 777 Partners, you would assume Friedkin could pass the owners’ and directors’ test with reasonable ease.
“You would assume Friedkin can close that deal and Everton’s future can start in the next four to six weeks.”
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