'Friedkin Group had reservations about outstanding loans'published at 11:47 British Summer Time 19 July
Kieran Maguire
Football finance expert on BBC Radio 5 Live
The Friedkin Group was doing its due diligence into the finances of Everton and they had reservations about some of the outstanding loans.
They were hoping that the lenders would take a reduction in what was owed from them, one of the owners 777 have a complicated back story.
I think the Friedkin Group took the view that it was getting too complex and too risky from their point of view.
They were going to inherit huge amounts of debt and if they couldn’t guarantee that some of the existing lenders couldn’t cut back on what was owed to them. They felt it wasn’t a worthwhile deal to go ahead with.