Friedkin relationship with bank emerges in new Everton loans update
Dan Friedkin has a positive working relationship with JP Morgan as more Everton loans look to have been rescheduled, Kieran Maguire has said.
The American investor completed their takeover of the Goodison Park club on Thursday (19 December) and seem to have already gotten to work to improve their finances.
The Blues have struggled with Premier League Profit and Sustainability regulations in recent years under the ownership of Farhad Moshiri.
The football finance expert shared a document and commented on the situation with the bank [X, 23 December], saying: “Looks as if Everton have rescheduled existing loans with JP Morgan, with whom Friedkin have a good working relationship.”
Friedkin Group have a lot of work to do at Everton
Sorting out the Toffees’ finances is probably the first major issue for the Friedkins on Merseyside after years of struggling to balance the books.
They have already wiped out a significant chunk of the £800million-plus debt that the club had accrued during the Moshiri era. [The Athletic, 23 December]
However, there are other pressing issues both on and off the pitch for the new owners to sort out.
The future of manager Sean Dyche is one of them but it seems like the AS Roma owners are set to keep the former Burnley man in place for now [Mirror Football, page 4, 21 December].
Another issue is the fact that the Blues have 11 total players leaving the club in the summer, either after the expiry of their contracts or a loan deal, if things aren’t sorted soon.
Finally, the transfer window is rapidly approaching and the playing squad needs reinforcements to ensure they are not caught up in another brutal relegation battle.
In other Everton news, Alan Shearer has shared a new relegation verdict after what he saw against Chelsea.
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