A report has claimed that the Friedkin Group has now passed the FCA and FA approval tests
Everton’s takeover remains on track. But neither the club nor the Blues’ prospective new owners are prepared to respond to reports that the Friedkin Group has now passed the FCA (Financial Conduct Authority) and FA approval tests.
After previously ending takeover talks back in July, the Friedkin Group announced on September 23 their agreement to purchase Farhad Moshiri’s 94.1% stake in Everton.
A joint statement read: “Blue Heaven Holdings and The Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings’ majority stake in Everton Football Club. The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.”
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When contacted by the ECHO, both Everton and representatives of TFG stressed that they wouldn’t provide any updates until after the regulatory approval process has been completed with the more stringent Premier League’s Owners and Directors test also required before completing the takeover, although there are not expected to be any major concerns on this score.
Sources close to TFG have told the ECHO that their client has maintained an eye on caution throughout this process, but everything is going fine at the moment with no cause for concern and an estimated completion date of mid-December remaining the target.
Insiders also stressed that the complexities of the situation ensure that working harder on completing the deal does not actually speed up the process.
Also, unlike in the past when takeover announcements were often not made until everything was complete, periods of several weeks between agreements being confirmed and the green light being given are now commonplace.
Dan and Ryan Friedkin are reportedly in the UK today to hold talks in London with Claudio Ranieri over the vacancy at Roma. Ivan Juric was given his marching orders on Sunday after less than two months in charge, becoming the club’s third head coach to be sacked this year after Jose Mourinho and Daniele De Rossi.
