Under owner Farhad Moshiri, Everton were considered one of the worst-run clubs in the Premier League. They have been embroiled in a list of issues like Profit and Sustainability Rules violation, failed takeover, and poor onfield performances. At least a few of those issues might be about to end as a change in ownership looks to be in sight.
Everton takeover moves one step closer to completion
Everton have released a statement announcing that they have decided to grant a period of exclusivity to The Friedkin Group for the sale of the club. The group is led by AS Roma owner and Hollywood producer Dan Friedkin. According to reports from The Telegraph, multiple buyers were interested in the club, but Moshiri chose Friedkin after the latter tabled an all-equity offer.
Moshiri had an agreement with 777 Partners for the sale of Everton. But the deal broke down after the US firm got caught in a legal issue. Since then, around five interested parties have been in talks with the club ownership. This includes MSP Sports Capital, a consortium led by Armenian Businessman Vatche Manoukian, A-Cap financial group, and multimillionaire fans Andy Bell and George Downing. But it was Friedkin who got the nod from Moshiri, and other parties have now been informed of the decision.
If the deal gets finalized, Friedkin will have to pass the Premier League Owners’ and Directors’ Test. Under the test, the concerned individuals will have their backgrounds checked for criminal convictions, bans by sporting bodies, match-fixing allegations, etc.
Another point of concern might be the UEFA multi-club ownership rules. However, it will only matter if AS Roma and Everton qualify for the same European competition in a season. English clubs Manchester City, Manchester United, and Aston Villa have faced some issues in this regard in recent times.
As the talks for an ownership change progress, the club is busy in the transfer window trying to extract the maximum fee from United for their star player Jarrad Branthwaite. Everton received a bid of £43 million for the defender, which is nowhere closer to their demand of £70 million. They also expect around £50 million for Belgium midfielder Amadou Onana.