'It is pretty unusual' - Lawyer reacts to Friedkin takeover developments at Everton

Dan Friedkin’s Everton takeover is likely to be “pretty far down the line” towards gaining Premier League approval, according to Daniel Geey.

The lawyer from sports group Sheridans told the Liverpool Echo (27 September) that is “pretty unusual” for the deal to have already been announced and “subject to approval”, suggesting the process is well under way and backed by confidence of success.

The Friedkin Group and Farhad Moshiri’s Blue Haven Holdings issued a joint announcement on 23 September saying a takeover agreement had been reached.

Geey said of what comes next: “Usually you will need to have an interview with the Premier League and particular individuals there. They would need to pass the ODT [owners and directors tests], they would need to show sufficient funding, and they would need to show who was the ultimate beneficiary.

“It is pretty unusual for there to be a press release and it being subject to approval unless they were pretty far down the line and feeling pretty confident that this was going to happen.”

Farhad Moshiri announced Everton sale agreement

It is starting to look like Friedkin’s dramatic withdrawal in the summer [The Athletic, 19 July] ultimately served to take the spotlight off him as he went about navigating a complicated situation at Goodison Park.

The £200million he lent to the Toffees at that time, having paid off MSP Sports Capital, meant he was still in the picture, and it is now clear quite how much.

John Textor’s very public interest appears to have functioned as a smokescreen for his fellow American to get to work behind the scenes and get all his ducks in a row before pulling the trigger on a new offer to Moshiri.

While Textor was unable to ultimately move until he sold his 45 per cent holding at Crystal Palace, which is still not done, there was no such barrier to Friedkin and he has taken full advantage.

There looks to be growing hope that the entire process can be completed in a matter of weeks, and with confirmation emerging from the lawyers advising long-term Toffees lenders Rights & Media Funding Ltd this looks like the real thing now.

There have, of course, been false alarms before on the investment front but it would be a bombshell to surpass all the others if Friedkin’s arrival collapsed now.

Geey is the latest voice to interpret the latest developments as very strong signs that the change of ownership is finally on the way, and it seemingly may be closer than expected.

In other Everton news, the Toffees want to sign an attacking sensation and have already come forward with their interest amid the takeover developments.

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