Sky Sports journalist gives positive update on Friedkin Group Everton takeover
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Everton’s proposed takeover from the Friedkin Group shouldn’t be affected by the latest Premier League ruling, says Sky Sports’ Alan Myers.
After the Premier League voted to approve changes to Associated Party Transactions (APTs), which relates to integrating the assessment of shareholder loans. Essentially, it is to ensure clubs are not able to benefit from commercial deals or reductions in costs that are not at Fair Market Value (FMV) by virtue of relationships with Associated Parties.
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Hide AdWhile it was deemed a blow for Manchester City, who are at the heart of the issue, it isn’t set to affect Everton’s takeover. Myers, posting on X, confirmed the news earlier today and revealed that the takeover is still set to be completed by mid-December.
“I’m told the expectation remains mid-December, and ACap court issue won’t affect that, PL process ongoing.”
A Premier League statement reads: "At a Premier League Shareholders' meeting today, clubs approved changes to the League's Associated Party Transaction (APT) rules. The amendments to the rules address the findings of an Arbitration Tribunal following a legal challenge by Manchester City to the APT system earlier this year.
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"The Premier League has conducted a detailed consultation with clubs - informed by multiple opinions from expert, independent Leading Counsel - to draft rules changes that address amendments required to the system. This relates to integrating the assessment of Shareholder loans, the removal of some of the amendments made to APT rules earlier this year and changes to the process by which relevant information from the League's 'databank' is shared with a club's advisors.
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Hide Ad"The purpose of the APT rules is to ensure clubs are not able to benefit from commercial deals or reductions in costs that are not at Fair Market Value (FMV) by virtue of relationships with Associated Parties. These rules were introduced to provide a robust mechanism to safeguard the financial stability, integrity and competitive balance of the League."
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