Despite the behind-the-scenes issues at Everton, there is no shortage of investors queuing up to take over the famous old club.
Fans would be forgiven for fearing the worst after discovering that Dan Friedkin had pulled out of negotiations for Everton after being named as preferred bidder by Farhad Moshiri.
The Roma owner is believed to have been dissuaded by his advisers after discovering the full extend of Everton’s debt issues.
In particular focus is the £200m that the Toffees owe to Miami-based investment group 777 Partners, who lent Everton the money as part of their own attempts to take over the club earlier this year.
There are a number of legal complications relating to that debt and, although none of them involve Everton themselves, Friedkin is beleived to have thought the issues were no worth the risk.
However, there are still a number investors who appear to still be interested.
And in the last 24 hours, there have been two key updates regarding individuals that Moshiri could theoretically name as his next preferred bidder.
Kevin Malon updates Everton takeover stance; John Textor latest
It was widely reported earlier this summer that Crystal Palace co-owner John Textor was interested in investing in Everton.
There is a significant hurdle to overcome given that the American multi-club billionaire would first need to divest his interest in Crystal Palace to satisfy the Premier League’s conflict of interest rules.
However, as reported by The Guardian, Textor is in active talks to sell his stake in the club and is believed to have rejected three offers so far as he looks to recoup a sizable return on his investment.
He is confident enough to have made a formal bid for Everton, who would be the latest acquisition in his ambitious plans to expand his football empire.
As relayed by Brazilian media, Textor has confirmed that he is preparing an IPO with a view to eventually floating his Eagle Football group on the New York stock exchange.
He is hoping to raise £160m.
As relayed by GiveMeSport journalist Ben Jacobs via X, former LA Dodgers supremo Kevin Malone is also still exploring the possibility of an Everton takeover.
Malone is part of a consortium that is considering an offer to buy Everton.
TBR Analysis: When will Everton takeover be finalised?
Besides the debt issues, perhaps the biggest hurdle for a takeover is that Moshiri wants up to £50m for his Everton shares.
While there is some dispute as to whether the club’s debt exceeds the value of his equity, it is hard to find many analysts who would argue that his shares are no worth that sum.
Moshiri is believed to have set an eight-week deadline for a buyer to complete an Everton takeover, but that is seen as wildly unrealistic given the complexity of the situation.
Even after a preferred bidder is selected for exclusive talks and the 777 is resolved, Everton will need ratification from the Premier League.
As seen with 777’s initial attempt to buy the club, that can take some time.