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Dan Friedkin has settled Everton's debt to RMF [Credit: Imago]
Jonathan Burnett
Thu 19 December 2024 19:40, UK
Dan Friedkin was the only Everton takeover bidder willing to pay off their £225million debt to Rights and Media Funding in full, according to Paul Brown.
The journalist posted on X (19 December) after iNews reported that the Blues’ full £225m debt had now been paid to RMF as part of Friedkin’s takeover at Goodison Park, which was completed on Thursday.
As well as RMF’s involvement in the club’s finances being resolved, it was added that the A-CAP loan, the lenders behind 777 Partners’ ill-fated takeover bid, had also been “boxed off” by Friedkin.
Brown said: “Good to hear RMF debt now paid off in full. No other bidder intended to do that.”
Dan Friedkin arrival steers Everton away from ‘financial iceberg’
RMF were far from the only party intertwined with the complex financial situation at Goodison Park, but Friedkin’s arrival appears to be the starting point for Everton finally re-railing themselves off the pitch.
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A-CAP and 777’s own collapse had threatened to drag the Toffees down with them as court cases began, but Friedkin has finally allowed Evertonians to see the light at the end of the tunnel.
Both parties, as well as MSP Sports Capital, were owed nine-figure fees amounting to roughly £600m worth of total debt, making it unsurprising that the takeover saga has rumbled on for so long.
Friedkin’s initial share purchase agreement with Moshiri saw him tackle the £158m owed to MSP, but not before the complexities behind 777 and A-CAP’s involvement led to the deal being abandoned.
The American resurfacing in September to complete his takeover three months later, however, could be a watershed moment which signals the end of the Blues being a poorly-run, debt-ridden shell of their former selves.
In other Everton news, Jamie Carragher has spotted a trend with almost every new player signed by Sean Dyche at Goodison.
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