The Friedkin Group are already putting things in place as the Everton takeover edges closer.
Everton are living out their final weeks under Farhad Moshiri’s ownership, as the Friedkin Group’s takeover is now classed as being ‘very close’.
A win against Wolves has lifted the pressure on the prospective new owners finding a managerial replacement for Sean Dyche.
However, it’s Liverpool up next in the Premier League, which could play a big part in their thinking as that game means more to the fans than anything.
Interestingly, it appears as if the Friedkin Group are doing their thinking away from the pitch, as they’re currently in talks with some banking giants.
The Friedkin Group are in talks with JPMorgan about raising debt to help restructure Everton’s current loans
According to Bloomberg, The Friedkin Group is in talks with JPMorgan Chase & Co. about raising debt to help restructure Everton’s current loans, which stands at over £660 million.
It’s stated that this will potentially help reduce interest payments and stretch Everton’s debt over a more manageable timeframe.
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However, no agreement has been reached on the debt raise and the Friedkin Group may sign a deal with another bank to arrange the financing.
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The report also says the new owners will take on £150 million owed to lender Rights and Media Funding, and £200 million owed to 777 Partners.
This comes after the Friedkin Group have already agreed to the funding for the new stadium.
Stefan Borson offers a further update
Former Man City adviser and finance/legal expert Stefan Borson has provided a further update on the situation.
He states that the Bloomberg report confirms that the Friedkin Group has put in a further £50m working capital loan since September.
This puts the total headline debt including the Farhad Moshiri shareholder loan, which will be written off/converted to equity, at £1.1 billion.
A clever move from the Friedkin Group to get everything in order and more stable for the club moving forward, as Moshiri has left Everton in a right financial mess.
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