Everton's Ownership Shake-Up: What Lies Ahead for the Toffees?

Everton's chairman, Dan Friedkin, has yet to step foot in Goodison Park since The Friedkin Group (TFG) took over in December 2024. Their recent announcement to put the club on the market was as understated as their time on Merseyside has been. TFG, who also own AS Roma in Italy, splashed over £400 million for a 99.5% stake in Everton, hoping to rescue the club from the turmoil that marked Farhad Moshiri's chaotic departure. The expectation was that this would herald a new chapter as the club prepared to move to a state-of-the-art stadium at Bramley Moore Dock. Now, however, TFG is ready to explore potential buyers, with football finance expert Kieran Maguire suggesting they might seek between £750 million and £800 million for a complete sale, taking into account the club’s current debts of around £468 million. In stark contrast to the optimism surrounding their arrival, the Friedkin Group has largely been absent, focusing their attention on Roma. This disconnect was highlighted by Moyes revealing he has never had a conversation with Friedkin since returning to the club in January 2025. That revelation came after a disastrous summer transfer window that turned the relationship between the fans and TFG from lukewarm to downright hostile. The situation escalated when TFG attempted to sell promising teenager Harrison Armstrong to Nottingham Forest for £40 million. This news sparked outrage among fans, leading to threats of protests during a match against Bournemouth. In a quick bid to quell the discontent, TFG scrapped the deal for Armstrong, but the damage had already been done. Everton then went on to sell Iliman Ndiaye to Manchester City for £65 million and striker Beto to Fiorentina, leaving Moyes with a depleted squad as a move for Monaco's Folarin Balogun fell through. Maguire pointed out that TFG's financial woes were compounded by a £35 million compensation they owe Burnley for breaching financial rules, which might have shocked them. Everton had been found guilty of violating Profit and Sustainability Rules over a three-year span, and Burnley claimed this breach hurt their chances of remaining in the Premier League. The Friedkin Group injected £38 million into Everton to cover the costs while the club appeals the decision. Maguire speculated that TFG expected English football to be less litigious than it is proving to be, adding that they could see this as an opportune moment to sell given the demand for Premier League clubs. With only 20 clubs available in the Premier League, the scarcity factor is appealing to potential buyers. TFG's acquisition of Everton has provided some financial stability following Moshiri’s chaotic reign, making the club an enticing prospect for new investors. Maguire emphasized Everton's rich history, loyal fanbase, and solid stadium as key selling points. "You have a club that is ready for an owner looking to make an impact," he said, hinting that American investors may be particularly interested. That said, the relationship between TFG and the club appears strained. Moyes expressed disappointment about learning of the sale alongside the public, further highlighting the disconnect compared to their operations in Rome. In a pre-match press conference, Moyes conveyed his frustration: "I thought new ownership would signify a fresh start. I wanted to elevate Everton back to its former glories, but this summer has been tough. I’m surprised, yet maybe I shouldn’t be."