pwshub.com

US billionaire Dan Friedkin 'reignites plan to buy Everton'

The US billionaire Dan Friedkin has reportedly rekindled his interest in buying Everton.

Friedkin, who is the CEO of The Friedkin Group (TFG), and also the owner of Serie A side Roma, is believed to be willing to return to the negotiating table with Everton's majority shareholder, Farhad Moshiri, over a potential sale of the club.  

This comes after Friedkin ended interest in any takeover of the Toffees in July, owing to the structuring of debt the Merseyside club has engaged in under owner Moshiri.

This opened the door for Crystal Palace co-owner, John Textor, to pursue his own purchase of the club – should the US billionaire be able to sell his stake in the south London club in the near future.

It was reported last week that Textor has secured the backing of investment firm Aliya Capital Partners and entrepreneur Alexander Bafer to engage his pursuit.

US billionaire Dan Friedkin could return to negotiating table to potentially purchase Everton

Friedkin had reportedly cited worries about debts left behind by the controversial 777 Partners, whom the club owe around £200million.

Houston-based TFG had pulled out of negotiations back in July, over concerns about debt owed to previous would-be buyers Miami-based 777 Partners.

The Texas-based group had previously entered into an exclusivity agreement with Moshiri in mid June, which was seen as a huge boost after a protracted saga earlier in the summer. 

777 are now being looked at by insolvency experts after a series of lawsuits, allegations of fraud and delayed payments in the last year. 

TFG meanwhile, have lent Everton money owed to another lender, MSP Sports Capital, and paid the latest invoice owed to Laing O'Rourke, the constructor of the Toffees' new stadium at Bramley-Moore Dock.

A joint statement from the club and TFG read: 'The parties agree it is in both their interests for Everton to explore alternative options.

'The Friedkin Group will remain a lender to the club and is proud to have played a key role in enabling the new stadium to be built, which will help ensure a bright future for both Everton and the city of Liverpool.'

Dan Friedkin is Chairman and CEO of The Friedkin Group, a privately held consortium of businesses and investments in the automotive, hospitality, entertainment, golf and adventure industries.

He holds various leadership positions within the US business community, and is 'highly active in wildlife conservation initiatives and various aviation and education philanthropies'.

Source: dailymail.co.uk

Related stories
5 hours ago - The Friedkin Group owned by US billionaire Dan Friedkin have agreed a deal to majority stake in Everton Football Club. Here is everything you need to know about the new owner Dan Friedkin.
5 hours ago - Everton have confirmed the club has reached an agreement over the sale of Farhad Moshiri's majority stake to Roma majority owners, The Friedkin Group. 
1 week ago - Top-flight clubs are allowed to lose up to 105m over a three-year period under Profit and Sustainability Rules. But United's figures took them well above that mark with a total in excess of £250m.
1 month ago - Turkish shooter Yusuf Dikec asked a cheeky question to Elon Musk. The billionaire responded.
1 month ago - Last season, Everton were sanctioned twice by the Premier League for falling foul of their financial restrictions, with the Toffees being deducted a total of eight points for two separate charges.
Other stories
13 minutes ago - A former Premier League defender has labelled Man United defender Lisandro Martinez a coward after what he deemed to be a dangerous challenge on Daichi Kamada on Saturday.
13 minutes ago - The Bundesliga club confirmed the death of the 33-year-old in a statement on September 6, a day after police reportedly conducted a search at the home of the youth team coach.
13 minutes ago - Mikel Arteta's side have come under fire for alleged gamesmanship as they looked to protect a sensational victory during the second half at the Etihad.
13 minutes ago - PGMOL chief Howard Webb (left) is set to face intense scrutiny over the standard of refereeing from several Premier League clubs who are reportedly 'angry' at decisions.
1 hour ago - EXCLUSIVE BY MIKE KEEGAN: United, who want to build a facility as the centrepiece of a vast, transformational project, commissioned Oxford Economics to carry out an assessment.