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Everton have £553m problem with Dan Friedkin takeover as new details emerge

Adam Williams

Mon 17 June 2024 20:50, UK

Everton’s impending takeover by AS Roma owner Dan Friedkin faces one serious hurdle. 

The US billionaire, who is believed to be worth around £5bn, has struck an exclusivity agreement wi🌃th Farhad Moshiri.

Both parties have now entered into talks to define the exact terms of the sale of Moshiri’s 94 per cent stake in the club. 

Friedkin was one of around nine serioꦗus candidates to purchase the club.

Among them were MSP Sports Capital and MSD Partners, w🍌ho are part financed by Michael Dell.

Those groups, like failed takeover 🅰suitors 777 Partners, are all linked to multi-club models.

And that structure could prove a problem for Everton further down the line in 𒊎Friedkin’s imminent premiership.

Everton will be junior partner in Dan Friedkin’s multi-club network

Friedkin’s owner༒ship of Roma, who🍎m he bought £533m will not disqualify him from buying Everton.

However, supporters have raised question🍸s about how Friedkin will balan𝔉ce the competing needs of two famous European clubs. 

And now, Italian outlet Gazzetta Dello Sport (via ) are reporting that Rജoma will remain the senior club in Frie✤dkin’s portfolio.

Significantly, this would likely꧒ mean Everton would be unable to play in the same European competition as Roma.

UEFA are clamping down on multi-club structures at a time when more and more investors, especially from US pไrivate equity, are buying into the model.

Man United and Man City’s sister clubs – Nice and Girona – ha🧜ve been givꦏen license to play alongside their subsidiary clubs in Euro﷽pe, although this is merely a temporary reprieve.

UEFA will not be so lenient from 2025-26.

It is unlikely that Friedkin will steer Everton towards European competition in that timeframe🥀, but UEFA’s crackdown places an upper limit on their ambi🌳tions going forward.

• READ MORE FOOTBAL FINANCE ANALYSIS: E🍎verton set for crucial £400m takeover update on 4t♌h July

What are the benefits of the multi-club model for Everton?

While there are complications, th♛e bene💟fits of the multi-club model cannot be disputed – for the owners at least.

Having more than one club in a nexus allows owners to diversif✨y risk across the group, facilitate cꦫommercial collaboration, and establishes a pre-made scouting network.

There are also workaround⛦s in terms of recruitment, especially in a post-Brexit environment that employs a poi🤡nts system under which players must gain requisite experience before moving to the UK.

And recently, certain clubs have taken to trading players around their networks in order to improve their financial fair play (now Profit and Su𓂃stainability Rules,🤪 or PSR) position.

Whether any of the😼se benefits will apply to Everton or whet☂her Friedkin would prefer to operate the two as separate entities entirely.

This raises the question of integrity too. Certain clubs in Man City’s multi-club orbit, for example, have raised issues about losing the💙ir identities and serving merely as a subsidiary to the mothership.

This will likely be addressed by the Toffees’ excel𒁏lent supporters trust and fan advisory board.