'Most Significant Barrier' - The Esk: Non-public legal issues could prevent Friedkin's Everton takeover

Dan Friedkin conducting additional due diligence on an Everton takeover is the “most significant barrier” to the deal going through, according to The Esk.

The Toffees analyst wrote on his website (20 June) that now the American has been granted exclusivity by Farhad Moshiri the expectation is that Premier League approval should be “no issue” for him or the Friedkin Group.

But there are reportedly possible legal complications that are not yet publicly known for him to navigate at the club which have the potential to be a stumbling block.

The Esk wrote: “There are potential issues, not in the public domain and which are the subject of much legal debate that still face any prospective buyer.

“Those potential issues relate to the current ownership, the precise details of the shareholder loans and potentially the most recent 777 loans (now controlled by A-Cap).

“I stress that each are potential legal issues, not definitive, but will need to be resolved in the due diligence process.”

Farhad Moshiri and 777 loans a hurdle for Everton takeover

Nothing ever seems to be straight forward when it comes to the ownership situation at Goodison Park and it looks like that might still be the case now that Friedkin is officially in pole position to takeover.

As it is apparently not guaranteed that the situation will turn into a significant issue then surely everyone involved will hope it can be navigated smoothly.

But any potential stumbling block could be a concern for a fanbase which has already seen MSP Sports Capital attempt to buy a minority stake only for the move to collapse amid protests from another creditor in Rights and Media Funding Ltd [The Athletic, 25 August], for Moshiri to then give 777 Partners nine months to see their own attempted takeover fall through.

Friedkin and his group look to be a very different prospect on paper and the Premier League hurdle which 777 never cleared is seen as virtually automatic this time [Tutto Mercato Web, 18 June].

The club announcing exclusivity is a key step forward, but until they are able to do the same for a completed takeover the door remains ajar to further unwelcome twists.

Perhaps Friedkin’s experience in buying and running Roma without the controversy of 777’s control of Standard Liege and Vasco da Gama among others will help him get this one over the line, with the club clearly in need of finally entering a new era.

In other Everton news, the Toffees have made transfer offers to sign a player from their prospective sister club.

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