Everton’s latest takeover bid has fallen through, leaving the club back at square one in their search for new owners. The Friedkin Group, who also own Serie A side Roma, had conducted four weeks of due diligence on the club but ultimately decided not to proceed with the purchase. The collapse of the deal was primarily due to issues related to a previous prospective buyer, 777 Partners, and their legal troubles in the United States.
The major stumbling block for the Friedkin Group was a situation involving 777 Partners, who had provided Everton with a £200m loan during their takeover attempt. 777 Partners and their co-owner, Josh Wander, were accused of a “fraudulent scheme” in a civil court filing in New York. The Friedkin Group was concerned about the potential risk and uncertainty surrounding the legal action, so they chose to walk away from the deal rather than wait for the issues to be resolved.
Despite this setback, sources insist that Everton as a business is not in a precarious position. The loan from the Friedkin Group is stable, meaning they are not looking to call it in immediately. If the litigation case involving 777 Partners is settled quickly and without further issues, the Friedkin Group could potentially return for talks. However, this seems unlikely at the moment.
With the collapse of the latest takeover bid, Everton is once again on the market for new owners. The Friedkin Group was the fourth party in the past two years to be granted exclusivity by owner Farhad Moshiri without completing a takeover. Other potential buyers include a consortium led by Kevin Malone, former general manager of the LA Dodgers, and a consortium of international investors that involved a member of the Saudi royal family. It remains to be seen if any of these parties will return to the table.
The financial situation of Everton has been strengthened by recent player sales and the repayment of a loan from MSP Sports Capital. The club has received a £200m loan from the Friedkin Group, which covered the repayment of a £158m loan from MSP Sports Capital and the costs for the new stadium at Bramley-Moore Dock. Additionally, the club will soon receive the next portion of Premier League broadcasting revenue, which is worth around £30-40m.
Despite the uncertainty surrounding the ownership situation, there is an air of positivity around the Everton squad. Players have been in high spirits during their pre-season camp in Ireland, and there is a sense of togetherness within the team. New signings have settled in well, and the club is expected to make more arrivals in the transfer window. There is also a strong desire to hold onto prized asset Jarrad Branthwaite, with Everton rejecting offers from Manchester United.
Furthermore, Everton has a new stadium to look forward to, which is set to open for the start of the 2025-26 season. This provides a sense of optimism amid the ongoing takeover uncertainty. While the club may be back at square one in their search for new owners, they remain focused on their goals for the upcoming season and are determined to achieve a top-10 finish.