Friedkin Group to explore new partners for Everton debt as takeover nears
Dan Friedkin could arrange a deal with a new bank to help rearrange the significant debts at Everton, according to Bloomberg.
The US outlet reported on 5 December that with their Goodison takeover days away from completion, the Friedkin Group are yet to come to an agreement with JP Morgan over the club's "onerous" finances.
As a result, TFG could change course and sign a deal with another bank to re-arrange the financing of the Toffees' debts, with a plan to raise that debt in order to change the repayment of various loans.
Dan Friedkin takeover doesn't mean Everton are out of the woods
While Friedkin's arrival will finally bring an end to the often-chaotic and at times catastrophic tenure of Farhad Moshiri at Goodison Park, the Iranian's legacy could linger on Merseyside for quite some time.
Moshiri's previous attempts at selling the club have proven disastrous, with 777 Partners' intertwinement with the Toffees' finances proving to be a stain which has been difficult for Friedkin to wash off [Paul Brown, 3 December].
The £200million loaned to the Blues by 777 via their lenders A-CAP has already seen Friedkin pull the plug on one takeover attempt at Goodison, with problems for both only increasing in the wake of this.
Friedkin may have paid off £158m in loans to MSP Sports Capital the first time around, but clearing the £200m debt accumulated by 777 and A-CAP's involvement could lead to further complications.
Despite these issues, Friedkin is expected to arrive on Merseyside within the coming days, and once he's in the building, belief will be high that he can finally tackle the Toffees' unforgivable financial situation.
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