Newcastle United owners the Saudi Public Investment Fund could pull off a huge business deal that changes everything for soon-to-be new Everton owner Dan Friedkin.
Friedkin has entered into exclusive talks with British-Iranian billionaire Farhad Moshiri to iron out the finer points of a deal that is expected to be worth around £800m.
It is widely anticipated that, in contrast to previous takeover suitors 777 Partners, Friedkin’s acquisition will be given the green light by the Premier League without any issue
Everton would not be the sports and media investors firs venture into the world of football – he bought Italian giants Roma for £500m in 2020.
At present, UEFA is actively clamping down on clubs under the same ownership umbrella from competing in the same European competition.
UEFA announced last week that Man City and Man United can play in the same competitions as sister clubs Girona and Nice, but only on the condition that the subsidiary clubs are placed in a blind trust.
In any case, it is believed that this is only a temporary reprieve and that more permanent measures will be introduced by UEFA from 2025-26.
There has been no update on the status of the bid, which is also believed to include around £250m of funds for a new Roma stadium, which would be designed by Bramley Moore Dock architect Dan Meis.
If Friedkin accepted PIF’s offer, it would simultaneously resolve any issues around UEFA’s multi-club crackdown and also provide Friedkin with a huge windfall that could potentially be reinvested in Everton.
There is no saying for certain whether the 59-year-old would choose to do that, but it would make financial sense to pay off the Everton’s debts of £390m rather than continue to pay interest on them.
Given that a chunk of that debt is secured against Everton’s property assets, it could also theoretically open the door for Friedkin to engineer a style PSR workaround by selling assets to himself, à la Chelsea.