Dan Friedkin Reignites Interest in Buying Everton FC

(Bloomberg) -- US billionaire Dan Friedkin has reignited his plan to buy Everton FC, people with knowledge of the matter said, roughly two months after cooling his interest in the English Premier League club.

The owner of Italian football team AS Roma is in discussions with stakeholders about the feasibility of an offer and how it would be structured, according to the people, who asked not to be identified discussing confidential information. 

Friedkin’s renewed interest brings the possibility of another twist in the battle for control of Everton, whose owner Farhad Moshiri has been struggling to find a buyer for the financially stricken club. 

Talks about a sale to Miami-based investor 777 Partners LLC collapsed earlier this year, opening the door to other suitors. Friedkin then stepped in for a period of exclusive talks before announcing in July that he wouldn’t be proceeding with a takeover.

Since then, US investor John Textor has emerged as a possible buyer. Bloomberg News reported last week that Textor has secured the backing of investment firm Aliya Capital Partners and entrepreneur Alexander Bafer for his pursuit. Textor would first need to sell an existing stake in Crystal Palace FC, another Premier League team.

Friedkin’s deliberations are ongoing and there’s no certainty they’ll lead to a bid, the people said. Representatives for the Friedkin Group and Everton declined to comment. 

Everton was among the founding members of the English Football League in the 1880s and is one of just a handful of teams that’s never been relegated from the Premier League. But it’s narrowly avoided dropping out of the top division in recent seasons despite heavy investment from Moshiri. 

The club is saddled with hundreds of millions of pounds of debt, largely due to construction costs for a new stadium being built at Bramley Dock in Liverpool, and finding a way of managing this will be key for any future owner of the team. 

Friedkin is chief executive officer of Friedkin Group, one of the world’s largest independent Toyota distributors, through which he owns Roma and French football team AS Cannes. Friedkin Group is an existing a lender to Everton.

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