Friedkin agrees Everton funding deal amid takeover collapse as Bell, Downing update emerges - report

Andy Bell and George Downing will be considering whether to revive their interest in buying Everton now that Dan Friedkin’s takeover is off, according to The Telegraph.

The paper reported via their website on 19 July that the two Evertonian business are expected to have been “monitoring the latest developments” after American Friedkin pulled out due to concerns about the status of 777 Partners and their associated debts [The Athletic, 19 July].

While the takeover collapse is seen as coming at a “terrible” time for the Toffees who are in the midst of a “tricky” transfer window there is seen to be one “ray of hope” to the situation.

Friedkin has apparently agreed to provide loans to complete the construction of the Bramley Moore Dock stadium after an official announcement confirmed his group would remain a lender to Everton.

Farhad Moshiri deal with 777 Partners comes back to haunt Everton

Bell and Downing were seen as the likely winners of the Toffees takeover race last month [The Esk, 9 June] when 777’s doomed bid finally came to an end.

Friedkin emerged as something of a surprise candidate thanks to potential complications around his ownership of Roma but was serious enough to land exclusivity.

Bryan King exclusively told Goodison News on 7 July that the takeover had hit a “stumbling block” due to the money that was owed to 777 Partners and unfortunately he was right.

Many supporters will hope the two Evertonians Bell and Downing step back in but whether they might also be put off by Friedkin’s reluctance remains to be seen.

As things stand the club have returned to seemingly lurching from one lender to another as they attempt to get the stadium built in time to move in next season while financing the day-to-day running of the club.

Friedkin has already become a major lender towards the former by providing his own £200million loan to reimburse MSP Sports Capital and pay Laing O’Rourke [Liverpool Echo, 24 June], which he isn’t seeking fast repayment of [Dave Powell, 19 July].

So if he has committed to assisting the project through to its end that is one concern seemingly dealt with, albeit in far from ideal circumstances.

It won’t do anything to reduce the need for Moshiri to react and find yet another buyer who can see a deal through and focus will logically turn to those Friedkin overcame earlier in the summer to see if they come forward once more.

In other Everton news, the Toffees are now “very close” to securing another signing which could end up permanent a club chief pushed talks forwards.

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