Everton’s takeover by Roma owner Dan Friedkin is set to enable the club to move into their new stadium debt-free, according to talkSPORT.
Additionally, talkSPORT’s Ben Jacobs reports that Friedkin may consider hiring Gareth Southgate as the new manager, potentially replacing Sean Dyche. Southgate has been out of a job since stepping down as England’s manager following their defeat to Spain in the Euro 2024 final.
Current owner Farhad Moshiri accepted a lower offer from Friedkin to expedite the sale, despite John Textor’s higher bid. Moshiri is set to incur significant losses on his £700 million investment after selling his 94.1% stake in Everton to the Friedkin Group.
Sources indicate the takeover is valued between £400 million and £500 million, with most funds earmarked to convert existing debts into equity. This includes £200 million previously invested by 777 Sports during their unsuccessful takeover attempt, with Friedkin negotiating a settlement with American insurance firm A-Cap, which financed the 777 bid. This settlement will need court approval in New York after A-Cap seized 777’s assets.
Moshiri opted for Friedkin’s offer after becoming frustrated with Textor’s delays in selling his shares in Crystal Palace to pursue Everton. The deal is pending approval from the Premier League and the Financial Conduct Authority, with hopes for completion by year-end.
Everton is expected to move into their new 52,888-seat stadium at Bramley-Moore Dock for the start of next season. Friedkin has also pledged additional funds to cover operational costs, including wages, during the takeover process.
Last season, Everton finished 15th in the Premier League with 40 points, having faced an eight-point deduction for breaching profit and sustainability rules. This season, they’ve struggled, losing four of their first five league matches.
