Moshiri waits on Rights and Media approval with Everton takeover deal close – Exclusive
John Textor is on the verge of agreeing a deal to buy Farhad Moshiri’s 94 per cent share of Everton but an agreement still requires approval from Rights and Media Funding, Goodison News understands.
RMF are long-term creditors at Goodison Park and earlier this year, The Guardian reported that Everton owed the Cheshire-based lenders £225million and are paying high interest rates of 10.25 per cent.
The Athletic reported last week (13 September) that the Blues have now managed to reduce that debt to £150million.
Any deal that sees Moshiri, 69, sell his majority shareholding would require approval from RMF with Textor, 58, willing to pay off Everton’s mounting debts [The Guardian].
Dan Friedkin and 777 Partners are both owed around £200million each by Everton. Friedkin would require his money back immediately if someone other than him buys the Toffees while the money owed to 777 is complicated due to legal issues with the Blues’ former prospective buyers.
Everton board still need to approve John Textor and Farhad Moshiri agreement
Goodison News has been told by a source close to the takeover at Everton that the club’s board also still needs to approve the deal. It is understood that the final approvals from both RMF and the board are more of a formality and shouldn’t bring up any issues.
As reported by Sky Sports News’ Alan Myers on Wednesday (19 September), once an agreement is fully reached between Textor and Moshiri, the US billionaire will start to put finances in place, seek Premier League approval and sell his stake at Crystal Palace.
Textor’s Eagle Football Holdings is currently the largest shareholder of the South London club, owning 45 per cent of shares.
In order to complete his takeover of Everton, Textor needs to sell up at Selhurst Park and speaking to Sky Sports on 12 September, the American confirmed that he’s received two serious bids for his shareholding at Palace.
In other Everton news, director of football Kevin Thelwell has made an admission about Jarrad Branthwaite’s future on Merseyside.
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