Everton Nears Takeover As Bidder Is Granted Exclusivity

Everton FC has granted exclusivity for the Friedkin Group to acquire Farhad Moshiri’s 94% share in the club, according to numerous reports.

The Merseyside club has taken a step closer towards a takeover, after reportedly agreeing a deal in principle with the consortium on 14th June. Led by US businessmen Dan Friedkin, the group also owns Italian side AS Roma.

Any takeover agreement will be subject to approval from the Premier League, the FA, and Financial Conduct Authority.

The American emerged as the successful bidder last week, after beating out four rival offers from UK businessmen Andy Bell and George Downing, US private equity firm MSP Sports Capital, UK-based Vici Private Finance, and a consortium led by Vetch Manoukian.

Friedkin, who is keen to add the Toffees to his multi-club model, has an estimated net worth of £4.8bn ($6.1bn).

Everton previously agreed a takeover with 777 Partners in September last year, however the agreement with the US private investment company expired on 31st May.

Last season, the club was deducted points by the Premier League on two separate occasions for breaches of its Profit and Sustainability Rules (PSR). Despite this, the Toffees managed to avoid relegation, placing 15th in the final table.

Next year, Everton is set to move to its new stadium at Bramley-Moore Dock.

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