Your support helps us to tell the story
As your White House correspondent, I ask the tough questions and seek the answers that matter.
Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn’t have the resources to challenge those in power.
Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election
Andrew Feinberg
White House Correspondent
The Friedkin Group are set to buy Everton after reaching an agreement to purchase owner Farhad Moshiri’s 94.1 percent stake.
The American company, run by Dan Friedkin, who is thought to be worth $6bn, already own Roma and have revived their interest in Everton after a takeover bid broke down in the summer.
The Friedkin Group then entered into a period of exclusivity but decided not to pursue their interest in the Merseyside club due to complications relating to a loan of £200m to 777 Partners, which they thought was unresolvable.
Meanwhile, Moshiri was in talks with American businessman John Textor, though he would have needed to sell his 45 percent stake in Crystal Palace if he were to take a controlling stake in another club.
But TFG had loaned Everton £200m in the summer, partly to repay a loan to MSP Sports Capital, and had remained in discussions with all parties.
Now they have struck a deal with Blue Heaven Holdings, Moshiri’s company, subject to approval from the FA, the Premier League and the Financial Conduct Authority.
A spokesperson for The Friedkin Group said: “We are pleased to have reached an agreement to become custodians of this iconic football club. We are focused on securing the necessary approvals to complete the transaction. We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.”
Besides their debts to TFG and 777 – whose stake is now controlled by A-Cap – Everton also owe Rights and Media Funding a further £200m.