DrkeemEverton prospective owner Dan Friedkin has held positive talks with the club’s existing lenders as he looks to improve the financial situation at Goodison Park, sources have told Football Insider.
The Merseyside giants confirmed in September The Friedkin Group has reached an agreement to purchase owner Farhad Moshiri’s 94.1 per cent stake in the club.
It comes after Friedkin previously pulled out of talks to buy Everton in July due to risks associated with the £200million loan provided to the club by former prospective owner 777 Partners.
But those concerns have since been resolved, allowing the American billionaire to reignite his interest and agree terms with Moshiri on a deal believed to be worth in excess of £400million.
Friedkin is already a lender to Everton after previously supplying a £200million loan to pay off a debt owed to MSP Sports Capital and provide working capital to complete the new stadium development.
The Merseysiders are currently in more than £600million worth of external debt after Moshiri has struggled to keep on top of their financial situation in recent years.
But sources have told Football Insider Friedkin has held “very constructive talks” with the club’s other existing lenders – Rights & Media Funding and A-Cap – as he looks to provide more financial stability at Goodison.
The two parties are believed to be in support of the 59-year-old’s takeover bid.
Everton takeover still on course despite delay threats
Friedkin is currently waiting to receive regulatory approval from the Premier League, the FA and the Financial Conduct Authority before he can finalise the takeover.
The ongoing court case in New York involving Leadenhall, A-Cap and the 777 debt has raised question marks about how quickly the deal can be completed.
A-Cap has assumed 777’s share in Everton but has been prevented from selling it following Leadenhall’s legal challenge, with court approval needed before the debt can be settled.
But Football Insider revealed on 12 November
There have been suggestions Everton could require some extra funding over the coming weeks to help boost their finances while the takeover is going through.
Football Insider revealed on 14 November a further investment from Friedkin is unlikely to be necessary as the club are not currently facing any immediate cash-flow issues.
The Merseysiders are believed to be more comfortable financially after slashing their wage bill over the summer and securing an uplift in commercial revenues this season.
In their latest accounts for 2022-23, the club’s commercial revenue fell from £50million to £39million and their sponsorship decreased from £35million to £19million.
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