Stefan Borson: Everton chief pocketed £20m of loan

Farhad Moshiri pocketed about £20million of the £200million loan that was paid to Everton by The Friedkin Group.

That is the view of finance expert Stefan Borson, who exclusively told Football Insider that was the first bit of money the Everton owner has taken out of the club for a considerable amount of time.

The Friedkin Group – spearheaded by Dan Friedkin – was handed exclusivity in June after agreeing a deal in principle with Moshiri to take on his 94.1-per-cent stake at Goodison Park.

The Texas-based company supplied Everton with a £200million loan to pay off lender MSP Sports Capital – another firm that previously tried to buy the club – as well as working capital to complete the new stadium development.

But Friedkin’s takeover then collapsed due to risks associated to the £200million loan provided to the Merseysiders by former prospective owner 777 Partners.

Everton under no pressure to pay back Friedkin loan

Borson revealed there is currently no pressure on Everton to pay back the £200million loan to Friedkin despite the concerns surrounding the 777 debt.

“Friedkin paid off some of the other debt, including some of Moshiri’s debt,” Borson told Football Insider.

“I think Moshiri pocketed something like £20million, which is the first money he’s had out of the club for quite some time.

“Friedkin have, therefore, got a £200million position in the situation with security over the assets – both the stadium and also the club. Friedkin are in a secure position.

“There is no immediate requirement for the debt to be paid back by Everton, so there is no pressure from a time perspective on that slice of the debt and that’s a positive for Everton.”

In other news, Everton plot two key signings after new twist.

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 Stefan Borson: Everton chief pocketed £20m of loan appeared first on Football Insider.