Everton prospective owner Dan Friedkin is close to completing his takeover after opening talks to refinance more than £660million worth of debt.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider you don’t start engaging in those detailed conversations unless a deal is reaching the closing stages.
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Everton confirmed in September The Friedkin Group (TFG) has reached an agreement to purchase owner Farhad Moshiri’s 94.1 per cent stake in the club.
Friedkin, who is the chairman and CEO of Texas-based TFG, is currently waiting to receive regulatory approval from the Premier League, the FA and the Financial Conduct Authority before he can finalise the takeover.
Bloomberg reported on 5 December the American firm is in talks with JP Morgan Chase & Co. about raising debt to help restructure Everton’s current loans of more than £660million.
It has also been widely reported TFG has already started the hiring process for a new CEO at Goodison Park despite not yet completing the takeover.
Everton takeover edging closer after Dan Friedkin updates
Borson revealed a recent email sent by interim CEO Colin Chong to Everton shareholders about Moshiri’s £451million worth of loans is a further indication the takeover is edging closer.
“I think there are a couple of key points,” Borson told Football Insider.
“We have seen now a couple of things that have seeped out into the market, which suggest very clearly that they are getting close.
“You don’t start engaging in detailed conversations on refinancing £660million of debt unless you are close, and you don’t start looking for a CEO unless you are close.
“That was also reflected in the email that Colin Chong sent to the shareholders of Everton regarding Moshiri’s shareholder loan.
“All of these signs suggest that we are close to the deal being approved.”
