Dan Friedkin takeover of Everton edges closer after Farhad Moshiri agreement

Everton owner Farhad Moshiri has entered into a period of exclusivity with US billionaire Dan Friedkin over the sale of the club.

Having seen the long-doomed pursuit of a Toffees takeover by Miami-based 777 Partners finally end last month after the struggling firm failed to come up with the funds to complete, AS Roma owner Friedkin was one of a number of interested parties to show their hand.

The 59-year-old, whose estimated $6bn fortune was amassed through ownership of Gulf States Toyota, a car dealership in the south of the US, as well as film studio interests, entered into an agreement with Moshiri earlier this week over exclusivity to pursue the completion of the deal, as first reported by the Financial Times.

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While it is a step closer to a deal for the club, and provides a credible candidate with football experience and considerable resources, people familiar with the matter stressed that it was not a deal that was done and dusted.

Friedkin and his team have now started the process of due diligence and will be analysing all aspects of the club’s business to get a full understanding of the financial situation and the risks that they will be undertaking in acquiring the Toffees. A potential purchase price was not disclosed.

Sources close to the Friedkin bid state, however, that there was a strong will on both sides to get a deal over the line, and provided the due diligence conducted throws up no surprises then both were working towards completion.


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