Dan Friedkin should become the new owner of Everton by Tuesday 18 June as he buys the club off Farhad Moshiri, according to Gazzetta dello Sport.
The Italian outlet reported on their website on 17 June that the Roma chief’s takeover of the Toffees was expected to be made official within the next 24 hours, based on information coming directly from Merseyside.
American film producer Friedkin has overcome a crowded field to emerge as Moshiri’s favoured bidder, with rival Vatche Manoukian admitting defeat.
MSP Sports Capital, Vici Private Finance and the two Evertonian businessmen George Downing and Andy Bell also made offers for the club, after the previous agreement with 777 Partners collapsed.
Andy Bell, George Downing and MSP Sports Capital beaten in Everton takeover race
After a deal was reportedly agreed in principle between Friedkin and Moshiri last week [BBC Sport, 14 June] the next step was expected to be the announcement of an exclusivity period for the American.
But even once that development arrives there will have to be Premier League approval granted and the owners and directors test passed.
So unless a huge amount of progress has been made behind the scenes it would be a major surprise if it was even possible for the change of ownership to be made official yet.
777 were unable to secure league approval for a full 37 weeks last season after they were given exclusivity by Moshiri, as they failed to show adequate funding, with the repayment of £158million in loans from creditors such as MSP, Bell and Downing a particular stumbling block.
Repaying those loans and providing some new working capital cash to Everton was reported to be required before Friedkin could be granted exclusivity, according to Paul Joyce in The Times on 14 June, with a £200million payment expected to clear on Tuesday 18 June.
So if one of the key hurdles that 777 couldn’t clear is therefore passed with the loan repayment then it may just about be possible for the Premier League to be satisfied with the deal overall, but it would seem a hugely-accelerated turnaround if that was the case.
Since Friedkin emerged ahead of his takeover rivals to seemingly win the race it has been separately reported that a deal was still some way off [Giulia Bould, 17 May], and that it could still collapse altogether [Bloomberg, 15 June].
If there is far greater optimism of an imminent takeover elsewhere it may be that different parties, including potentially rival buyers, have been putting out different messages, but it appears Tuesday could be significant.
