Farhad Moshiri set eight-week deadline to finalise Everton takeover
Farhad Moshiri has eight weeks to finalise a takeover of Everton before the club will start to struggle financially, according to Stefan Borson.
The football finance expert shared on talkSPORT (6 August, 11:07) that Everton will start to feel the pressure come October if Moshiri is still at the helm.
Dan Friedkin of the Friedkin Group, owners of AS Roma, pulled out of a deal to take over the Blues after concerns surrounding money owed to 777 Partners/A-Cap (The Athletic, 20 July). A proposed takeover by 777 Partners also fell through.
Borson said: “They are in an okay position for the next eight weeks. Once we get into the back end of September, October, the pressure will build because they burn cash quickly. They have a big wage bill in terms of turnover and operating losses – that is an issue.
“They need money to come in to pay bills over the autumn and winter. The best bet for that is a takeover, but we don’t know if there’s serious interest for a deal to be done in the next six to eight weeks. If not, they will have limited options heading into that period”
Farhad Moshiri under pressure to sell Everton at last
Moshiri has established himself as one of the most hated men on the blue half of Merseyside during his tenure at the Everton helm.
His financial mismanagement has left the Blues in financial peril and the victims of two points deductions from the Premier League for breaching their Profit and Sustainability rules.
The Blues have managed to steady the ship for now and that has allowed Sean Dyche to strengthen his side with the signings of Iliman Ndiaye, Jack Harrison, Jake O’Brien, Tim Iroegbunam and Jasper Lindstrom, but this is the calm before the storm if the club doesn’t secure new ownership soon.
Moshiri is guilty of providing squad players with big contracts and the club will struggle to move those players on this summer. Even if they can, it will not do much to dent the club’s significant debts.
The club reportedly owes £600million in debt and that figure is only going to climb when factoring in interest payments.
Everton are one of the most decorated sides in English football and their perilous situation is hard to watch.
Fans will be praying that a sale is in place within the next couple of months to avoid yet more penalties.
In other Everton news, Atalanta have approached the club over a potential player swap.
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