The Friedkin Group have officially taken over at Everton after a prolonged saga
Dan Friedkin inherits a club with significant potential despite recent struggles
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By LEWIS STEELE
Published: 17:30 EST, 19 December 2024 | Updated: 20:04 EST, 19 December 2024
Keep your eyes on the sky. That was the message from Everton fans this time last year when a supporters' group chartered a plane to fly over the Etihad Stadium during a match with a banner reading: 'Premier League = corrupt.'
The top flight's treatment of Everton had been cheap, but the club were only in such a mess and protesting points deductions because of Farhad Moshiri's ruinous ownership.
This weekend, it might be worth Evertonians turning their eyes to the sky once more. To wave good riddance to Moshiri, but also to welcome their new, buccaneering stunt-pilot supremo, Mr Dan Friedkin.
The 59-year-old billionaire's family are steeped in aviation and made their money distributing Toyota cars. But Friedkin has also made his mark and his flying skills saw him called up by director Christopher Nolan to star in Dunkirk.
Nolan's masterpiece is about the rescue of nearly 350,000 Allied soldiers on the French coast and Friedkin was the stunt-man who landed a Spitfire on the beach.
Now it is Everton who are desperately in need saving. One of the biggest clubs from these shores are racked with financial worries, have operated for two years with one hand tied behind their back, and are going round and round on the crisis carousel.
Dan Friedkin(left) has taken over Everton with the club in the midst of various difficulties
The Toffees have narrowly escaped relegation from the top flight in their last two campaigns
Friedkin's group have faced criticism from fans for their ownership of Serie A club Roma
The Friedkin Group (TFG) are not perfect. Fans of their other club, Roma, can attest to that. But after Moshiri, TFG will be welcomed with open arms.
TFG agreed to buy the club in September and, since then, Everton supporters have been talking about the deal with a degree of trepidation. The last couple of years have been pockmarked by false dawns, including one involving TFG themselves when they pulled out of a previous deal. But the group know this will not be a quick fix. New executive chairman Marc Watts — a Friedkin appointment — said: 'While restoring Everton to its rightful place in the Premier League table will take time, today is the first step in that journey.'
Watts laid out a six-point plan, with a short-term focus on stability ahead of the club's move from Goodison to Bramley-Moore Dock in the summer. Manager Sean Dyche and director of football Kevin Thelwell will be backed… for now.
There is no need to dwell on the past two years and the £451million of debt accumulated by Everton after they took out loans from Bluesky Capital. That has been wiped out by a cash injection from TFG and a conversion of debt to equity, in the form of shares in the club.
Friedkin said: 'Dear Evertonians, I want to express my gratitude for your support. Everton represents a proud legacy, and we are honoured to become custodians of this great institution. We strive to deliver extraordinary experiences that ignite people's passions. We are thrilled to bring this ethos to Everton. We understand the vital role Everton plays in local culture, history, and the lives of Evertonians. We are deeply committed to honouring this legacy while contributing positively to the community, economy, and people of this remarkable city.'
There is no hiding that this is a momentous week for Everton. Members of TFG will be at Sunday's clash with Chelsea — who Everton have beaten in seven of the last 10 home fixtures — and Goodison will be at fever pitch.
Roma offers a cautionary tale, though. The Friedkins inherited a similar situation in the Eternal City: a sleeping giant facing financial woes but desperate to rekindle former glories.
It all started so well for TFG in Italy, and they were perhaps the most popular owners in Serie A at first. Roma ended a 14-year trophy drought in 2022 as they won the Europa Conference League under Friedkin's star appointment Jose Mourinho.
The group are preparing to meet with Sean Dyche in the coming days to detail their plans
With a new stadium nearing completion, significant commercial opportunities are within the club's grasp
But the love affair went sour. A banner outside the training ground reads: 'Presidents and directors, leave Roma, you are incompetent and unworthy!' Roma expert Scot Munroe tells Mail Sport: 'At first it was great but now it is toxic, toxic, toxic.
'You rarely hear from them. They were supposed to be in Rome recently but they cancelled their trip. They sacked club legend Daniele De Rossi as manager and there's no structure. They hit the panic button quickly.'
TFG are planning to speak to manager Dyche for the first time in the coming days to lay out their plans for the immediate future.
Dyche and Thelwell are out of contract in the summer, and will have noted Roma are on their third boss of the season already, having sacked De Rossi's successor Ivan Juric after 12 games. Claudio Ranieri has now taken over.
Evertonians, then, will hope TFG have learnt from their mistakes after a lavish start which saw Friedkin fly new Roma signings Romelu Lukaku and Paulo Dybala to the airport in his jet. And not alongside them in the cabin — he was the pilot.
But the upside of TFG's ownership is tangible. Commercial expert Neil Joyce tells Mail Sport how the club can catch up with neighbours Liverpool off the pitch after they move to their new 52,888-seat stadium.
'More than half of the Premier League are American-owned,' says Joyce. 'There are 83m fans in that market and we estimate 36.5m have not picked a team to support. There is a race to win the hearts, minds and wallets of US fans — and the Friedkins can target this. The group has a portfolio not just in sports but entertainment. They could look to do a documentary to gain supporters.
'They will want to enhance the matchday experience. Think of the revenue if they can get fans to spend an extra hour at the stadium. There will be concerts, too.' Nonetheless, TFG's early months will be spent shaking up a squad who have been drifting for years, with a dozen players out of contract in June.
Friedkin is described by one source as a 'quiet but authoritative' figure who has mellowed. So don't expect him to land a Spitfire on the pitch with Dyche in the passenger seat on Sunday.
But his arrival still represents a box-office day in the history of one of England's most iconic clubs. Now the Friedkins must return Everton to their pedestal.