The Friedkin Group - Takeover Talk
- Spirit of The News
- Sep 25, 2024
- 3 min read
The Takeover - How It Occured:
Everton yesterday confirmed that the Friedkin Group has agreed a deal to become majority shareholders of the club. It is still currently going through the approval process from multiple businesses around the footballing world, like the Premier League and the FA.
The Friedkin Group was founded by Thomas Friedkin, and currently the CEO is Dan Friedkin, an American businessman and film producer.
The group are also the owners of Serie A club Roma, whom Everton faced in a pre-season friendly. The situation for the purchase of the club was a strange one. The group had entered a period of exclusivity in June, allowing them access into the in-depth financial situation of the club before exiting negotiations in July, with Everton making a club statement confirming that a deal had not been agreed.
From there, another American businessman, John Textor, made his interest in purchasing the Toffees’ extremely clear. During a Sky Sports exclusive interview with Alan Myers, Mr. Textor compared owning Everton to being like president of the United States, also confirming that he would be willing to sell his 45% share in Crystal Palace to purchase the side.
It all seemed like a done deal until Monday afternoon, when Bloomberg reported that the Friedkin Group was closing in on a takeover for the club, leaving Everton fans surprised. An extremely rapid deal meant that Dan Friedkin and his group had become the new owners of Everton Football Club.
A reported investment of £400-500 million into the club has been made, clearing all of Everton’s debt going into the new stadium on the banks of the Royal Blue Mersey, perhaps a huge selling point for the American company.
Farhad Moshiri:
The Friedkin Group replace British-Iranian business Farhad Moshiri, who bought 49.9% of the club back in 2016 and in 2022 increased to a huge 94.1%.
Many Everton fans believe Moshiri’s time as owner has been extremely disappointing, as the amount of failed players signed for an unreasonable price alongside the constant change of managers means some Evertonians won’t be sad to see him go.
Although Farhad Moshiri had hired Carlo Ancelloti for a season, as well as signing Colombian superstar James Rodriguez all during the COVID period, there have been 11 different managers in charge of Everton since Moshiri has been involved with the club's hierarchy, as well as poor finances too. In the 2021-22 Premier League season, Everton reported a loss of £44.7m; the next season would end up doubling that and more, at a whopping -£89.1m, leading to multiple point deductions.
What Is Next For Everton?:
Everton will now move into Bramley Moore Dock completely debt-free, but they will be hoping that they will be playing Premier League football in it…
Everton currently sit at the bottom end of the Premier League table, only picking up 1 point from 5 of the opening fixtures.
Everton Premier League Results 24/25:
Leicester 1-1 Everton
Aston Villa 3-2 Everton
Everton 2-3 Bournemouth
Tottenham 4-0 Everton
Everton 0-3 Brighton
The Blues currently sit 19th in the league table, with the only reason not being bottom is due to alphabetical order, as Wolves sit rock bottom.
There has been growing pressure on manager Sean Dyche on whether he will be enough to keep the club afloat in the top flight of English football; however, a draw away at Leicester may allow the Englishmen to cement his place as the boss for at least the next few weeks.
A segment of the >3000 Everton fans at the King Power Stadium - Leicester 1-1 Everton
On Saturday, Everton face Crystal Palace at home, who are yet to win a game this season too. Another opportunity for the Blues to pick up points.
Both Sean Dyche and Director of Football Kevin Thelwell’s contracts are up in June, alongside a load of first-team players’s contracts coming to an end as well. This is the perfect opportunity for a complete reset for the club, bringing in new talent and starting fresh to maintain Everton’s status as a Premier League club fighting towards the top end of the table instead of the bottom.
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