‘Close’ – Journalist shares ‘necessary approval’ update in Everton takeover latest

Everton fans are anxiously waiting for the Premier League to give the Friedkin Group the green signal to complete the takeover process.

The Toffees are struggling badly in the Premier League, and the new owners can inject cash into the side in the January transfer window to change the club’s fortune.

Back in September, the prospective new owners reached an agreement to buy 94.1% shares from Farhad Moshiri to take control of Everton, and they are biding their time as they need approval from the Premier League, the Football Association, and the Financial Conduct Authority.

According to a report from the Liverpool Echo, the “necessary approval” is believed to be “close”, and TFG do not expect any roadblocks.

There is little concern over the proof of funds as the credibility of the TFG chief, Dan Friedkin, doesn’t come into question at all.

He is a member of the executive board of the European Clubs Association, and TFG are expecting to get the Everton deal done before Christmas.

Worst case scenario

During the festive period, business activity can slow down, and the takeover process can tick over into the New Year.

Everton will move into their new home next season, and it won’t be ideal if they play Championship games in their newly-built 52,888-seater stadium at Bramley-Moore Dock.

The Toffees fans are getting frustrated with the lack of progress, and Sean Dyche is under pressure to keep his job safe.

The Friedkins have already committed to provide money in working capital when the takeover is completed, and the fans can expect a busy transfer window.

The prospective new owners have other major issues to solve. Everton have several players on their books who are in the final year of their deal, and no decision has been taken over their futures.

Everton will face Wolverhampton Wanderers in a crucial Premier League game on Wednesday night.