Everton have suffered a monumental economic blow today after their proposed takeover by The Friedkin Group (TFG) has fallen through, as confirmed by The Athletic.
Longing for a definitive end to their precarious financial woes, the Toffees were in advanced talks with 777 Partners for an extended period this year until the purchase agreement expired at the beginning of June.
TFG then entered the fray last month in hopes of striking up a deal that’d see them able to pay off the club’s baggage of debts. However, Friedkin has left talks due to concerns over the £200 million worth of loans 777 made to the Merseyside outfit last season.
The Athletic adds that said debt is “now controlled by American insurance firm A-Cap, the original source of that money.
“TFG’s concerns about the debt are related to the fact that 777 is now in the hands of insolvency experts after its complex web of portfolio companies started to unravel earlier this year, following months of lawsuits over unpaid bills, late payments and allegations of fraud.”
What this could mean for Everton’s transfer dealings
In light of the bombshell news, reputable journalist James Ducker of The Telegraph took to X (Twitter) to drop a cryptic transfer hint, saying: “Maybe [Jarrad] Branthwaite ends up getting sold after all…”
Of course, Manchester United have notoriously had two bids rejected for the centre-half due to not meeting Everton’s valuations.
They’re thought to want around £70m+ to sanction Branthwaite’s exit this summer and were taken aback at United’s decision to fork out £52m for 18-year-old prospect Leny Yoro after low-balling in their opening offers for their star defender.
Now that their financial situation has just got even tighter – on the back of a campaign in which they were dealt two points deductions for Profit and Sustainability rule breaches – they may have no choice but to resort to lowering their demands for the Englishman, who has already agreed personal terms with the Red Devils.
