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Everton Farhad Moshiri Dan Friedkin

Dan Friedkin backed out of a deal to buy Everton - Credit TIFF Originals via YouTube

George Overhill

Tue 23 July 2024 17:40, UK

Everton didn’t realise the Friedkin takeover had collapsed until after it had already been leaked to other parties, according to Kieran Maguire.

The University of Liverpool’s football finance expert told The Price of Football podcast (23 July) that the news came out as early as Tuesday 17 July while the Toffees and Farhad Moshiri were still unaware the deal was off.

A joint announcement was made two days later on 19 July that Dan Friedkin had pulled out of the deal and while there has been speculation he could return to table down the line it appears the relationship between the American the club’s current owner is not good.

Maguire said (3m 20s): “I’ve got to be honest, this story had been leaked on Tuesday/Wednesday to certain parties, but not the football club itself.

“This is how bad things were. Some people were aware the deal had collapsed but Everton hadn’t realised that themselves.

“I think that’s indicative of just how bad things were between Farhad Moshiri and The Friedkin Group.”

777 Partners issues collapsed Everton takeover by Friedkin Group

Concern over potential future issues related to the debt owed to former failed buyers 777 Partners is reported to be the primary reason for Friedkin to abandon his deal .

That debt is now controlled by A-Cap but financial problems for both companies and legal complications in America have rendered the situation “unresolvable” according to The Friedkin Group .

Yet it would appear that the relationship with Moshiri wasn’t great in an update that will do nothing to boost the majority shareholder’s popularity at the club.

It is possible that he ends up being remembered more favourably after he eventually does finally sell the club for plowing hundreds of millions of pounds in and building a new stadium.

Josh Wander
777 Partners co-founded Josh Wander failed with the previous Everton takeover attempt.

But at present he is ultimately responsible for a club which has gone the wrong way fast on the pitch and on the balance sheets, although there have been some slight improvements on both fronts very recently.

His decision to do a deal with Josh Wander and 777 looks to have done nothing but store up problems that any new buyer will have to find a way to navigate but could linger for years yet.

And if the Friedkins had reached the point where they weren’t properly communicating with Moshiri it is a concern for how a replacement bidder will get on.

In other Everton news, a Premier League ace is ready to play for Sean Dyche and a move could be secured soon with more talks due this week.

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