Dan Friedkin to pay Farhad Moshiri less than £50m after new Everton agreements
Farhad Moshiri will receive less than £50million from Dan Friedkin after his Everton takeover agreement, according to Bloomberg.
Sources close to the takeover shared with the American outlet on 25 September that Friedkin’s deal to buy the club – and the £600m debt to go with it – will see Moshiri pocket a small sum.
Friedkin and Moshiri struck a “historical” deal for the US billionaire to buy the Toffees on 23 September [Fabrizio Romano], finally putting the club’s long-running takeover saga on the final straight.
However, with the club having accumulated significant debts during Moshiri’s tenure, the Iranian is set to receive less than 10 per cent of the reported £500m equity investment Friedkin has agreed to [Alan Myers, 23 September].
Farhad Moshiri to make a sorry exit from Everton
Moshiri only has himself to blame if he’s disappointed with the final sum he receives to sever his ties from Goodison Park, having overseen a club which has spiralled well out of his control.
Although Moshiri will leave with some positives – such as the almost-completed Bramley-Moore Dock Stadium on Liverpool’s waterfront – few Toffees fans will be sad to see him leave the club.
The £600m debt racked up by the club has proven to be a sticking point for numerous would-be buyers during the club’s takeover saga, with 777 Partners – Moshiri’s first preferred choice – falling by the wayside.
Friedkin is owed £200m of this debt due to a loan repayment and working capital investment during his previous share purchase agreement with Moshiri, with that likely turned into equity now.
The club’s association with 777 scuppered Friedkin’s initial deal, but now he’s back and on the verge of completing his takeover, Moshiri should count himself lucky to be walking away with anything at all.
In other Everton news, a shock name has emerged as a candidate if Friedkin decides to part ways with Sean Dyche this season.
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