Friedkin company has registered a charge against Bramley Moore Dock as part of MSP Sports Capital repayment

The takeover of Everton by US billionaire Dan Friedkin has taken a step closer after one of his firms registered a charge against the club’s new stadium.

Yesterday it emerged that Friedkin had satisfied one of the conditions that the long-doomed bid for the Toffees from Miami-based 777 Partners failed to do, paying off the £158m loan that the club had in place from New York investment firm MSP Sports Capital.

Removing that debt burden was one of the conditions of sale from Farhad Moshiri, with Companies House confirming that a charge against the Everton Stadium Development Company Limited was registered on June 18 by TDF Capital Management LLC, a company that forms part of the Friedkin Group.

The registration of the charge signifies the repayment of the MSP loan, with TDF Capital Management acting as security agent for the transaction, with the new 52,888-seater stadium collateral for the loan.

Friedkin, who also owns Italian Serie A giants AS Roma, is currently undergoing due diligence of the club and its financial health as part of he and Moshiri entering into a period of exclusivity last week to enable the American to work towards completing a deal following the collapse of the 777 takeover at the start of June.

During the period of exclusivity, Moshiri will be unable to negotiate with any other parties or solicit interest in the club to allow Friedkin the time to assess the deal and thew state of the club. The period, which usually lasts for 30 to 60 days, can be extended if required provided both parties are in agreement.

The ECHO has been told by those familiar with the matter that both Moshiri and Friedkin have a strong desire to get the deal done as swiftly and smoothly as possible, but given the financial issues the club has faced over the past couple of years, and the sizeable debt burden, the due diligence from the buying side will be strict.