“Friedkin’s Everton Takeover: Potential Dual Ownership Challenges and Positive Outlook Amidst Legal Complications”
Dan Friedkin is expected to have a strategy for addressing potential “issues” if he completes the takeover of Everton while still owning Roma, according to Alan Myers. On June 21, the Sky Sports journalist responded to questions on Twitter after the club announced that the American had entered an exclusivity agreement with Farhad Moshiri. Myers indicated that he doesn’t foresee “any issue” preventing the deal from proceeding, as due diligence is conducted and the Premier League performs their own checks.
Regarding the possibility of complications with UEFA if both Everton and Roma qualify for European competition, Myers acknowledged that “issues around dual ownership” exist but believes it won’t be a problem. He stated, “If all is as it should be it will happen, all parties want it, obviously due diligence has to be completed and the PL process, I don’t see any issue at this point but I’m not buying it.” On the topic of European competition, he added, “I’m sure there won’t be an issue with that. There are issues around dual ownership in European competition but I just don’t see it being an issue when it comes to it, you wouldn’t put yourself in such a position without a plan.”
It seems illogical for Friedkin to invest hundreds of millions of pounds into purchasing Everton from Moshiri if he is concerned about future UEFA issues. There are concerns in Rome that the Premier League’s financial power might lead Friedkin to ultimately favor Everton over Roma, but this potential problem is likely not immediate.
Friedkin might plan to sell one of the clubs before having to deal with the dual ownership issue, but until he reveals his strategy, his solution remains unclear.
Currently, the fact that Friedkin’s group is leading the takeover is seen as a positive for Everton, especially after a season where the club risked being taken over by 777 Partners or facing administration if a deal didn’t go through.
There is reportedly a legal complication, not yet public, that any buyer must address, which could be the main hurdle in completing this deal. Despite this, Myers remains optimistic. On paper, Moshiri needs to sell, and Friedkin appears serious about buying, having surpassed four other bids from MSP Sports Capital, Andy Bell and George Downing, Vici Private Finance, and a consortium led by Vatche Manoukian.
Given the expectation that the Premier League will approve Friedkin’s takeover without the difficulties faced by 777, the situation seems to be in the hands of Moshiri and Friedkin.
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