Farhad Moshiri commits £451 million to Everton as takeover timeline remains uncertain

Farhad Moshiri, owner of Everton, will convert £451 million in loans to shares by January 11, regardless of whether a takeover deal is finalized by then. This move is in response to new Premier League rules regarding shareholder loans. Moshiri's decision aims to protect the club from potential financial liabilities related to the new regulations. The Friedkin Group, led by billionaire Dan Friedkin, is expected to complete the takeover by the end of 2024, pending regulatory approval. Moshiri has been seeking to sell Everton for two years, with previous attempts failing. The Friedkin Group is currently working through the necessary channels for approval, with confidence that the deal could be completed by mid-December.