01/10/2024 14comments  |  Jump to last

The Friedkin Group will continue to provide Everton funds to cover working capital requirements and the ongoing fit-out of the new stadium at Bramley-Moore Dock while they await approval of their takeover.

The American firm agreed a deal last week with Farhad Moshiri to acquire his controlling stake in the Club and are now awaiting clearance from the Football Association, Financial Conduct Authority and the Premier League, a process that they hope will be done by mid-December.

The indications are that, having already paid off the £158m due to MSP Sports Capital earlier this year, TFG will look to either restructure or clear the bulk of Everton's outstanding debts with Rights & Media Funding and 777 Partners/A-CAP but that process cannot begin until their buyout has been approved. 

In the meantime, the Club remains saddled with interest payments approaching half a million pounds per week while also needing to pay for the completion of Everton Stadium.

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Stadium Development Director and interim Club CEO, Colin Chong, suggested over the summer that Everton could self-fund the fit-out of the stadium if need be but having the support of TFG, reported by the Liverpool Echo to be to the tune of "tens of millions", will enable them to allocate cash to other areas.

 

 

Reader Comments (14)

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Mike Gaynes
1 Posted 02/10/2024 at 05:39:00
Well in, Big Dan Friedkin! He's not even officially in the game yet, but he's willing to put in one very tough (and expensive!) tackle without pulling back.

His commitment to the financial stability of both club and stadium is good for him too -- it makes his investment stronger -- but for us supporters, it means fewer knotty stomachs and sleepless nights.

Now it's up to the boys in blue. Stay up. Starting next season as a Premier League club in that magnificent new stadium opens up a whole new world for all of us.

Paul Hewitt
2 Posted 02/10/2024 at 06:48:29
Let's hope they can plug the roof.
Danny O'Neill
3 Posted 02/10/2024 at 06:54:52
Yes Mike. One step closer.

Now let's's get this ownership takeover signed and sealed.

Duncan McDine
4 Posted 02/10/2024 at 07:02:04
Things are looking up for once. But in the back of my mind, there is always that feeling of dread, expecting some kind of disaster! This is Everton after all.
Jerome Shields
5 Posted 02/10/2024 at 07:03:06
The quickest turnaround in value for The Friedkin Group is completion of the stadium.
Nigel Scowen
6 Posted 02/10/2024 at 07:17:27
All sounds extremely promising, blue skies ahead.

UTFT

Alan McGuffog
7 Posted 02/10/2024 at 08:01:15
Duncan...I don't know if you remember " The Fast Show". There was an old geezer in one of the sketches played by Paul Whitehouse. Always ended with him saying " ooohhh bugger "!
So I know fully what you mean
Dermot O'Brien
8 Posted 02/10/2024 at 08:24:45
Duncan, my thoughts exactly, it's always there, and when I read the headline I thought I saw " pull the plug" Agghhhh.. :)
Alan, yes we are the Unlucky Alf when it comes to club management, and results.
Rob Halligan
10 Posted 02/10/2024 at 08:27:03
I see The Daily Fail are at it again, saying that Man Utd will be back in the hunt for Branthwaite next summer, whilst, even funnier, saying the RS will join Man Utd in trying to buy JB, possibly as early as this coming January transfer window. However, Dan Friedkin will be “Splashing the Cash” in January, with a striker a top priority, and is reportedly saying that no top players will be sold!
Mark Murphy
11 Posted 02/10/2024 at 08:32:36
Mike, Textor was saying the same stuff!
Fingers crossed we don’t do an “Everton that”
UTFT
Alan McGuffog
12 Posted 02/10/2024 at 08:39:16
Rob, like all of us I'd like to see JD here for many years to come. Whilst I hate the arrogance of the popular press and clubs like Man U..." yeah we'll take hime off your hands" type of thing I do feel that in time he will leave us. In fact I'm certain of it.
What I'm hoping for is, at long last, we'll have leadership that will say " he is our player, so show us the money ". By that I mean mega bucks not selling our assets for magic effing beans like we've done in the past. For God's sake a lad only has to.play once for that lot across the park and he's in the £20 million bracket.
I'm looking forward to a real hard nosed business man standing up to these Sky Six entitled gobshites
Alan McGuffog
13 Posted 02/10/2024 at 08:39:54
JB sorry
Jerome Shields
14 Posted 02/10/2024 at 09:10:15
It would take Radcliffe to get full control of United.Having the Glaziers there keeps the rot going.Same old United trying to get players on the cheap and offload their useless ones.Big Club, Big arrogance, no substance.

Everton are hopefully leaving the Big Club no substance behind.Fortunately arrogance wasn't a issue.Arrogance is by far worse.

Ted Roberts
15 Posted 02/10/2024 at 09:12:48
Every step taken in stabilising the very fractured and somewhat non existent financial foundation of our club has got to be viewed on the merits of its promise of a future for Everton.All donations so far,albeit in the form of loans,have kept us afloat but have increased our vulnerability and insecurity of possible survival.
The emergence of TFG has a different feel to it,with its apparent direct approach to dealing with the loanees strangle holds on our ability to grow and prosper, in a constructive and positive manner,suffice to give me,a football fan,not a business minded man,a glimmer of hope that “ The times,they are a changing “ and we are not just “Blowing in the wind “.
Having just read on BBC Sport Gossip that the RS are adding themselves to the list of suitors for our Jarrod,and that Dyche will have funds to strengthen the squad and that no top players will be sold ( do one RS),gives me,at present,the belief that the business aspect of our club is destined for a brighter future.TFG will be ruthless in dealing with “ the business “ make no bones about it,and not all decisions will be welcomed,but at this moment in time I feel that TFG’s business will be Everton Football Club,and everything that is done in it’s name will be for the benefit and future health and survival of both club and owner.
Hope that I am proven right—— Time,as always,will tell. “We’re Forever,Everton”

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