Everton takeover: 'No agreement after Friedkin Group talks'

Everton buyers The Friedkin Group are in talks with JP Morgan Chase and co. about restructuring the club’s debts but are yet to reach an agreement, Bloomberg have reported.

The group are expected to complete a takeover of the Toffees at some point this month, ending Farhad Moshiri’s eight-year spell at the helm of the club.

Once they complete that takeover, they will be apparently be taking on more than £660million worth of loans that have been paid to the club.

That includes more than £200million owed to former buyers 777 Partners, and the cost of funding the new stadium on Bramley Moore Dock that Everton are due to move to next season.

The Friedkins have a relationship with JP Morgan Chase and talks are being held in the hope it can reduce the interest payments owed by the club, while spreading repayments over a more manageable time frame.

So far though no deal has been reached for raising the debt and The Friedkin Group [TFG] may instead sign a deal with another bank.

The Friedkin Group loan plans encouraging for Everton

It does feel as though these steps being taken by the Friedkin Group will be promising for those connected with the club.

The financial pressure they have been under has caused so many problems recently, not least with the points deductions they had to deal with in the Premier League last season.

If this restructuring works in the way the Friedkin Group hopes it does though, it should ease those concerns, providing more long-term security for Everton.

Given they apparently have a good relationship with JP Morgan from their time in charge of Roma, there may be some confidence that an agreement can be reached here.

That these plans are already being made despite the deal not yet being completed, should also give optimism that they have put the right preparation in place to hit the ground running when they take over.

With that in mind, it will be interesting what that might mean for manager Sean Dyche, given the scrutiny his position at Everton has come in for at times recently.

In other news, Michael Keane tipped to quit Everton for new club.

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