Kieran Maguire shares 'Major Challenge' Friedkins still face in Everton takeover

Dan Friedkin’s Everton takeover is only at risk from the ongoing court case between 777 Partners and Leadenhall, according to Kieran Maguire.

Speaking to TBR Football (3 November), the football finance expert said that while the Friedkin Group’s background checks are long complete, the 777-Leadenhall issue could yet throw a spanner in the works.

Evertonians are still in line for a “very happy Christmas” if Friedkin’s takeover is greenlit by its expected date of mid-December [Alan Myers, 20 November], but the legacy of 777 Partners remains a risk.

Maguire said: “The Friedkin Group had already done substantial background checks before they pulled out of the original offer to buy Everton – therefore, they don’t have to do that again.

“The major challenge is the 777-Leadenhall issue. You need someone to sign off on those and reduce the risk. It all comes down to risk.

“If that happens, I think it could be a very happy Christmas for Everton fans. The bills will be paid and the core issues and they can start to address the core issues in terms of how the club is run.”

Dan Friedkin still playing a waiting game over Everton takeover

While waiting for Friedkin’s takeover to be completed is preferable to having the likes of John Textor or 777 themselves queuing up to try and buy the club, the latter is still causing problems at Goodison.

Since 777’s own share purchase agreement with Farhad Moshiri expired at the end of May, the Miami-based group has collapsed entirely, with A-CAP picking up the slack [Paul Brown, 3 December].

That May expiration date opened the door for Friedkin’s initial takeover attempt, which was aborted due to complications in paying back the £200million loaned to the club by 777 via A-CAP’s shareholders.

Friedkin re-entering the fray in September and striking a deal with A-CAP over that £200m snag, now worth just £66m in cash plus equity [Josimar, 7 October], looked to have resolved further issues arising.

But with Leadenhall taking 777 and A-CAP to court in the US, it still remains to be seen just what Friedkin has left to do in order for the new era on the blue half of Merseyside to truly get underway.

In other Everton news, Andy Townsend slammed Farhad Moshiri’s record at Goodison amid calls for Sean Dyche to be sacked.

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