Official Everton Dan Friedkin takeover update due in next 24 hours amid £171m blow

The next stage of Dan Friedkin’s Everton takeover will be completed within the next 24 hours, but it is taking place against a worrying financial backdrop.

Friedkin has signed an agreement to conduct exclusive talks with Farhad Moshiri, which is expected to result in the US billionaire taking control of the club.

But he will have his work cut out for him on Merseyside, where the Toffees have been hamstrung by Profit and Sustainability and cash flow issues in recent years.

The latest financial data emerging from Goodison Park is emblematic of the size of the task at hand for Friedkin.