Everton fans can breathe a sigh of relief, thanks to Alan Myers, amid what’s been a really frustrating day.
The Toffees have confirmed today that another takeover process has collapsed, the second in the last three months, after Friedkin Group pulled out of the race due to concerns about the club’s debt to 777 Partners.
After the takeover deal with 777 Group collapsed, the Texas-based owner of Italian side AS Roma emerged as a top candidate. They have been in exclusive talks in the past month and showed great desire to buy the club.
They have already lent the club £200 million to become the secured lender of the new stadium and were hopeful of taking full control of the club before the new season.
However, after carefully examining the situation of the debt, and especially to 777 and A-Cap, they have decided not to continue, which puts the club at risk of administration.
Everton have already signed three players, and everyone was expecting a fantastic transfer window, but the news has dampened the spirit.
Myers suggests that he has been told that the takeover collapse will not affect the club’s plans for the current transfer window.
Writing on X, Myers said: “They weren’t (Friedkin involvement in transfers), but I’m told this will not affect business in the current transfer window.”
In a separate tweet, Myers added, “My understanding is that the club is well funded in the short term, obviously the search will now recommence to find long term funding solution.”
Many fans have been fearing the worst that this takeover collapse could result in a fire sale, including Jarrad Branthwaite who is being targeted by Manchester United.
It seems the Toffees have their bases covered for the short term and can confidently continue with their transfer plans.
In the long run, Farhad Moshiri will have to find an owner who will take the risk of paying off the existing debts at the club.
The situation of 777 can be a major hindrance for other potential owners, and no one knows when this trauma will end.
