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Everton takeover: Dan Friedkin handed boost after UEFA release acceptance statement
Source:Latest News

It would be fair to say that supporters aplenty like what they have seen so far from Everton prospective owner Dan Friedkin.

After several years of profligacy and mind-boggling decisions made by majority owner Farhad Moshiri, followed by the saga of 777 Partners, who failed to get a purchase of the club approved by the Premier League, supporters are hoping for stability.

The early noises are that Friedkin will provide that. The American is a highly-renowned businessman and a multi-billionaire. Already, he has paid off PS158 million in loans to MSP Sports Capital and provided further working capital to Everton.

Perhaps the only doubt around Friedkin when he was selected to be given exclusivity rights over a host of parties, was that he is already AS Roma's owner.

That isn't a slight on the job his company the Friedkin Group have carried out at the Italian outfit since their August 2020 takeover. Roma supporters seem highly satisfied, with the financial situation at the Stadio Olimpico much improved while a maiden European trophy in the Europa Conference League was won in the 2021-22 season.

The only concern from an Everton perspective was that in the future there might be a problem down the line. Every Evertonian dreams - and in fact believe - that European football should be a regular occurrence. The Blues are one of the most historic clubs in England - only Manchester United, Liverpool, Arsenal and Manchester City have won more league titles.

Under David Moyes, Everton were regulars in the UEFA Cup/ Europa League. Yet it has not been since 2017-2018 that supporters have had the chance to travel across the continent following their team.

Restoring the Toffees' position in the upper echelons of the Premier League will be Friedkin's aim. However, the worry has been that should Everton and Roma be in the same European competition, a decision would have to be made. Roma are regulars in Europe as they reached the Europa League semi-finals last season and will compete in the competition once again in 2024-25.

UEFA have been strict over multi-club ownership. Article Five of UEFA rules states that: 'No club participating in a UEFA club competition may, either directly or indirectly: hold or deal in the securities or shares of any other club participating in a UEFA club competition."

However, the issue has now seemingly been resolved. There had been doubts about whether Manchester City and Girona - owned by City Football Group - would be able to both compete in the 2024-24 Champions League. Meanwhile, concerns were raised about whether Manchester United and Nice, who are controlled by INEOS, would be able to compete in the Europa League.

But the Club Financial Control Body (CFCB) of European football's governing body has confirmed all four can take their respective spots. The statement said: "The CFCB First Chamber accepted the admission of Girona FC (ESP) and Manchester City FC (ENG) to the 2024/25 UEFA Champions League as well as Manchester United FC (ENG) and OGC Nice (FRA) to the 2024/25 UEFA Europa League."

The CFCB were satisfied that 'significant changes' that 'substantially restrict investors' influence and decision-making power' were made at Girona and Nice. In addition, shares have been assigned to 'independent trustees through a blind trust structure established under the supervision of the CFCB First Chamber' and 'the effective control and decision-making of these clubs rest solely under control of the trustee'.

It means that there is a precedent set by UEFA for any cases in the future. Therefore, should Everton and Roma ever run into the problem - providing Friedkin's Goodison takeover goes through - there is a way around the issue.