Newcastle United Premier League rivals hit by fresh £400m takeover twist after Saudi interest

Dan Friedkin’s proposed takeover of Everton has reportedly grown closer with reports from Italy claiming deal is ‘practically official’. Tutto Mercato Web claim The Friedkin Group, who also own a controlling stake in AS Roma, will pay around £400million to complete a takeover of Everton.

Friedkin will takeover a 94.1% majority stake under Blue Heaven Holdings Limited from current owner Farhad Moshiri. 1.3% will remain with Bill Kenwright’s estate and the remaining 4.6% will be floating.

Any takeover would be subject to suitable checks from the Premier League and Football Association.

It comes after Everton were subject to a takeover bid from a consortium linked to the Saudi Arabian royal family. The consortium have since withdrawn from the process.

Everton’s Premier League rivals Newcastle United were taken over by the Saudi Arabian Public Investment Fund in 2021. As a sovereign wealth fund, PIF have links to the Saudi royal family with Crown Prince Mohammed bin Salman as chairman.

The Toffees were targeted by 777 Partners for an extended period during the 2023-24 campaign but a deal failed to materialise despite an exclusivity agreement being in place.

Everton were deducted eight points last season after being found guilty of breaching the Premier League’s Profitability and Sustainability Rules. Despite the deduction, The Toffees were able to comfortably avoid relegation and secure a 15th-placed finish on 40 points.

Prospective Everton owner Friedkin is an American film producer with an estimated net worth of around £4.8billion, according to Forbes. But a majority takeover of Everton could cause issues further down the line should the club qualify for Europe once again.

AS Roma are European regulars and UEFA rules state: “No individual or legal entity may have control or influence over more than one club participating in a UEFA club competition.”

The rules saw Aston Villa owners V Sports forced to reduce its stake in Vitória de Guimarães due to both sides competing in the 2023-24 Europa Conference League. This is despite the Portuguese side being knocked out in the second qualifying round before Villa had entered the competition.