Report shares if Everton takeover announcement to come by tomorrow

Everton are not expected to make an announcement on the next stage of the takeover race before the weekend is over, according to i News.

The online reported on 7 June that Farhad Moshiri wants to begin a new takeover process “as soon as possible” after the failure of 777 Partners to get their deal over the line after months of waiting.

He has been in talks with a number of parties, including lifelong Evertonian creditors Andy Bell and George Downing, with a new shell company called Toffees Ventures Ltd with the the former as director registered at Companies House seen as suggesting talks with the pair are at an “advanced” stage.

Bell and Downing are being backed by American computing billionaire Michael Dell, while Roma owner Dan Friedkin has since emerged as a “very serious” rival buyer according to Sky Sports Italy on 8 June.

According to i News the “next step” is to enter into a new exclusivity agreement, after 777s’ expired on 31 May, but the outlet “understands no announcement is expected from Everton this weekend”.

Dan Friedkin the latest arrival in Everton takeover race

If Moshiri has given up on his hopes of receiving a sizeable price for his shares and is now prioritising speed then perhaps there is scope for him to agree a new deal in a short space of time.

It has been speculated that his decision to allow 777 months, including by brokering deadline extensions, to get their funding in order was because they were the only bidder who had agreed to pay the majority shareholder for his holding [Price of Football, 4 June, 7m 50s] on top of taking on their financial burdens at the club itself, although they clearly failed to do either.

Bell and Downing’s presence in the picture throughout the 777 debacle may well give them in inside track with Moshiri now compared to the likes of Friedkin, although it is unknown what communications the Everton chief has had behind the scenes over recent months.

The two local businessmen have loaned millions to the club and were connected to the MSP Sports Capital consortium which had an option to step in and take control in April when 777 failed to repay the near £160m debt.

That option was not taken and it appears the local pair have split off as the New York-based company have made their own separate bid [Times, 7 June].

And the backing of Dell is believed to have helped them grab Moshiri’s attention [Daily Mail, 8 June] so perhaps they are frontrunners to secure an agreement, although it remains to be seen what effect Friedkin entering the race has had.

In other Everton news, recent takeover developments have sparked calls to remove Moshiri from the board.

For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.

The post Report shares if Everton takeover announcement to come by tomorrow appeared first on Goodison News.