Dan Freidkin. (Photo by Kevin Winter/Getty Images)Dan Freidkin. (Photo by Kevin Winter/Getty Images)
Dan Freidkin. (Photo by Kevin Winter/Getty Images) | Getty Images
The Friedkin Group’s Everton takeover is expected to be announced this week.
The Friedkin Group (TFG) will name a new executive team once their Everton takeover is announced, reports suggest.
The American firm’s purchase of the Blues from majority owner Farhad Moshiri is expected to go through this week. TFG received the green light from the Premier League last week, having passed the Owners’ and Directors’ Test. Former prospective buyers 777 Partners failed to do so.
TFG, headed by Texan billionaire Dan Friedkin, will be hoping to return Everton back to the upper echelons of the Premier League after several years of turbulence on and off the pitch. There is no permanent CEO in place, with Colin Chong serving in an interim role for the past 18 months along with his position as chief stadium development officer.
According to The i Paper, TFG have identified ‘new directors to start work immediately and a new executive team will be announced shortly’. It is suggested that TFG have already provided Everton with more than £200 million. They took on a loan of £160 million that Moshiri owned to MSP Sports Capital, Andy Bell and George Downing and have provided the club with capital to help meet payments for the new stadium at Bramley-Moore Dock and running costs.
TFG are aiming to to reshape the club as a business to bring in additional revenue. Everton have suffered losses of almost £400 million in the past four years and were hit with an eight-point deduction last season for two breaches of Premier League profit and sustainability rules.
TFG will also have to decide on the futures of manager Sean Dyche and director of football Kevin Thelwell with the pair out of contract at the end of the season. Both have had to work under difficult financial circumstances in terms of player recruitment and having to offload members of the squad to balance the books. Yet Dyche has faced flak from sections of supporters - as has Thelwell for some of the signings he has overseen.
Continue Reading