Dan Friedkin expected to add ‘most lucrative’ business as new Everton sponsor after takeover
Dan Friedkin is believed to be highly likely to add Toyota as an Everton sponsor once he completes his takeover, according to The Athletic.
Matt Slater wrote for the outlet’s website on 23 September that the financial situation looks set to improve greatly at Goodison Park with the American coming in, as the current debt replaced by his cash and potentially cheaper borrowing, and the Toffees should be a more sustainable business especially once they move into their new stadium.
However, the club still need to “significantly” increase their commercial income and, since The Friedkin Group’s “most lucrative” business is assembling and selling Toyotas in America, Slater writes that he would be “amazed” if the Japanese auto brand is not added to Everton’s sponsorship portfolio in the “near future”.
Friedkin Group likely to add Toyota as Everton sponsor
Much of the turmoil at Everton in recent seasons can be traced back to losing sponsorship when the club had to hastily cut ties with Alisher Usmanov [Daily Mail].
So it is welcome and long overdue for the conversation to switch to what deals are likely to be added to bring greater revenue in.
Financially there appears to be nothing of concern about with Friedkin, especially when their substantial investment at Roma is taken into account.
At the same time there was no shortage of cash pumped into the Toffees during the early years under Moshiri, at least until Usmanov was sanctioned by the government over ties to Vladimir Putin, so for the new regime to lift Everton out of a hole they will need to demonstrate far better decision-making.
There looks to be good reason for optimism at last for Evertonians, albeit tentatively after so many false dawns on the takeover front, with Friedkin seemingly having cleared many of the previous barriers to a deal.
He reportedly has the finances lined up and the due diligence process complete [Giulia Bould, 23 September], the debts accounted for [Alan Myers, 23 September], and crucially has come up with a deal to address the £200million owed to 777 Partners which was the cause of his bid collapsing in July [The Athletic, 23 September].
Premier League approval is the main hurdle left to clear and that is expected to be done with no hitches in as quickly as eight weeks [Ben Jacobs, 23 September], so this may actually now be the finishing straight of a long and treacherous track towards a new era.
In other Everton news, Moshiri was not happy with what John Textor did when he was closing in on his own takeover deal.
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