Everton takeover deal could collapse amid due diligence update - report

Dan Friedkin’s takeover of Everton is subject to further due diligence and could “still fall apart”, according to Bloomberg.

The Canadian outlet reported on their website (15 June) that people with knowledge of the situation claim a deal between the Roma owner and Farhad Moshiri may yet collapse, and that other parties remain interested.

It emerged on 14 June that the American billionaire had become the majority shareholder’s preferred buyer, with exclusivity expected to be granted within a matter of days pending a payment clearing to pay off rival bidders MSP Sports Capital and Evertonian pair Andy Bell and George Downing’s loans [Paul Joyce].

Freidkin’s offer had also bypassed two more bids, one from a consortium led by Vatche Manoukian, who has since announced their withdrawal [Shamoon Hafez, 14 June], and another UK-based bid from Vici Private Finance.

777 Partners failed to buy Everton after exclusivity agreement with Farhad Moshiri

Toffees fans will have learned to expect complications when it comes to Moshiri’s long attempt to sell the club so it perhaps wouldn’t be a complete shock if there was a further twist.

However, there doesn’t appear to be significant doubts around Friedkin at this stage, who has been given a positive early assessment.

777 Partners spent 37 weeks in an exclusivity agreement through last season and failed to get their the bid past the Premier League, so simply being the preferred option for Moshiri isn’t necessarily a signifier of suitability.

But Friedkin’s ownership of Roma hasn’t been engulfed in the kind of controversy that 777’s at the likes of Standard Liege [AP, 16 May] and Vasco da Gama [AP, 21 May], so the suggestion that his takeover could still fall through may be coming from sources linked to rival bidders.

However, the fact that the American is already in charge at the Serie A club, which he has no plans to give up [Sky Sports Italy, 8 June], is a complicating factor that had been predicted to prevent him doing a deal for Everton.

As Bloomberg notes, UEFA are currently deciding whether to let Girona into the Champions League alongside Manchester City, with both clubs part of the City Football Group, demonstrating the complications involved in multi-club models.

That was said to be a concern to Friedkin and his group due to potential damage to clubs’ value in the future [Talking the Blues, 8 June], but absent another late change he looks to be pressing ahead regardless.

In other Everton news, Alan Myers reports that a star Toffees player is now expected to leave after a transfer approach was received.

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