Everton takeover imminent as prospective owners confirm agreement --[Reported by Umva mag]

A takeover of Everton is close to completion, with The Friedkin Group agreeing a deal to buy Blue Heaven Holdings’ majority stake in the club.

The American group led by billionaire Dan Friedkin, who is also owner and president of Roma, appear to have beaten John Textor in the race to buy the club.

Friedkin had been interested in buying the Toffees from Farhad Moshiri previously but walked away from a deal in July.

There have been other interested parties, including 777 Partners, but The Friedkin Group are now ready to do a deal, although it is still subject to approval.

A statement from Everton read: ‘Blue Heaven Holdings and The Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings’ majority stake in Everton Football Club.

‘The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.’

A spokesperson for The Friedkin Group said: ‘We are pleased to have reached an agreement to become custodians of this iconic football club. We are focused on securing the necessary approvals to complete the transaction.

‘We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.’

The Friedkin Group already have a financial connection to Everton as they loaned the club £200m, helping to pay for the new stadium.

If the takeover from TFG goes ahead then that debt will be converted into equity rather than needing to be repaid.

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