Billionaire Dan Friedkin is “very close” to agreeing a deal to buy Everton.
Sources have told i the Roma owner is locked in “advanced” discussions with Farhad Moshiri.
Friedkin walked away from the takeover in July because of concerns over debt owed to 777 Partners.
But insiders suggested he had never fully given up on buying the club – and he is now on the brink of buying out Moshiri’s 94.1 per cent stake to end months of crippling uncertainty at Goodison Park.
i has been told the exact timeline of an agreement is not yet clear but there is now confidence on all signs the deal will get done. Substantial investment in Everton would follow.
All parties were staying tight-lipped on Monday morning but that could change imminently if progress on the deal continues at the current pace.
One insider suggested that Moshiri, who has been keen to sell his stake for more than a year, might have agreed to a lower price to help smooth the path for a deal.
Despite their public withdrawal a few months ago, the return of the Friedkin Group to the table is not a huge surprise, given how invested they were in buying the club over the summer.
Detailed and extensive due diligence – including a business plan that would see a major strategic review of the club’s football operations and significant investment in infrastructure and the squad – had been carried out before red flags were raised about the club’s debt situation.
When they walked away, it prompted John Textor, the part-owner of Crystal Palace, to reignite his own interest in Everton, but despite reports that he had agreed exclusivity with Moshiri that was never formally confirmed by the Toffees’ owner and was understood to be more of an informal arrangement.
The biggest problem for Textor, who insisted he had funding in place to complete the deal and recapitalise the club, was that he could not proceed on Everton until he had sold his Palace stake. That would take months and has allowed the Friedkins to return the table.
Although Textor remains interested, it’s understood that an interview he gave to Sky Sports earlier this month raised eyebrows at Everton – who released a statement distancing themselves from much of what he said.
That confusion has allowed the Friedkin Group to return, with Dan and his son Ryan always enthused about the prospect of buying into a Premier League club, with next year’s move to a new stadium at Bramley-Moore Dock a huge reason for the attraction.
It would be good news for the stricken Merseyside club, with the Friedkins described to i as “proper, professional people” with a blueprint to end Everton’s decline.
They have deep pockets and will need them – there is a debt burden in excess of £600m which would need to be managed before further investment and a restructure is made.
The plan in the summer was for 34-year-old Ryan to take a frontline role in running Everton, with investment in the academy, women’s team and scouting network planned to end the club’s struggles.
Whether it will impact Sean Dyche, who has the support of Moshiri and director of football Kevin Thelwell, is unclear but they have shown in their running of Roma that they can be ruthless with managers.
Just last week they caused uproar among supporters by sacking Daniele De Rossi, although Dyche’s popularity has dipped recently with Everton fans and the team are yet to win a game.
If a deal is agreed the Friedkins would have to pass the Premier League’s owners’ and directors’ tests. Although that would not be an issue, it could take up to eight weeks before a sign-off is agreed.
