Everton takeover: Friedkin Group agree deal – so is saga about to end?

The Friedkins are immensely wealthy, with their billions being made in the car industry, but the handbrake was pulled on a deal for them to take control of the Toffees only two months ago.

The group agreed a deal in principle to purchase Moshiri’s majority shareholding in June, but talks were called off a month later after the two parties failed to finalise an agreement.

But they had never really gone away, maintaining a relationship with stakeholders after providing a loan of £200m in June, which is expected to be turned into equity.

While US entrepreneur John Textor tried to jump in to do a deal, his involvement was complicated by owning a stake in Crystal Palace, and Moshiri had maintained dialogue in the background with the Friedkin Group.

The deal was reignited and a statement on Monday said that they were looking forward to “providing stability to the club and sharing our vision for its future.”

The group have provided Everton with a further cash injection and would have no trouble clearing further external debt of about £400m.

An agreement has been reached with Rights and Media Funding who are owed £225m by the club, while there is also agreement over a £200m loan from 777 with financial firm A-Cap, who have seized 777’s assets.

The club, meanwhile, posted losses of £89.1m for the accounts covering the 2022-23 season, with net debt rising to £330.6m.

Owner and chief executive, Dan Friedkin, is listed on Forbes, external as the 383rd richest person in the world with a net worth of £5.7bn.

Friedkin is an aeroplane enthusiast whose grandfather founded an airline in the US, while he himself piloted a Spitfire in the Hollywood blockbuster Dunkirk.

He also reportedly owns one of the largest collections of vintage military war planes in America.

After years in the doldrums, are Everton now on course to fly high again?