A few days ago, the Friedkin Group secured exclusivity to purchase Premier League club Everton, and according to The Liverpool Echo, the consortium has now taken its first significant step.
It is reported that the Friedkin Group has settled the club’s £158m debt to MSP Sports Capital and has also provided funding to help the club meet its immediate financial commitments, with an initial injection of around £200m.
Of note, this payment was one of the four conditions that hindered the previous takeover attempt by 777 Partners, who were unable to raise sufficient funds, ultimately resulting in the deal collapsing and paving the way for the Friedkin Group’s opportunity.
With this accomplished, the Friedkin Group will now have the upper hand in ongoing negotiations, free from pressure from rival bidders.
However, there is still a long road ahead. This marks the third time that Moshiri has reached this stage in the sale process, with both previous attempts ending in failure.