This summer has been a setback for Everton. TFG tried to do things too cheaply and it’s hurt the squad. But Roma’s journey shows they do correct course.
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Are The Friedkin Group incompetent? Are they asset strippers? The answer is neither – but they do make mistakes. Those mistakes get exacerbated when running such a lean financial model. However, it is not all doom and gloom if you take a longer view.
Background
When the Friedkin Group took over Roma in 2020, the club was in a mess; losing money and stuck with a squad that needed rebuilding. Six years later, things look very different — and despite the usual Roma chaos, the direction of travel is finally upward.
Before Friedkin
Roma were a top‑six regular but financially shaky. The pandemic pushed them into real trouble: big losses, rising debt, and a squad that wasn’t improving.
What TFG Have Actually Done
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Since 2020, TFG have poured around €1 billion into stabilising the club. The results:
Losses shrinking year by year
Commercial and matchday revenue rising
Wage bill under control
Squad quality improving
Champions League qualification in 2026 — first time since 2018–19
It hasn’t been smooth, but the club is undeniably healthier than when they arrived.
Managers & Recruitment: The Rollercoaster
Using the (not to everyone’s taste) Transfermarkt squad values as a guide as to quality, this is how it shaped up.
Fonseca (2020/21)
7th place, with the 5th‑best squad. Underperformed. Recruitment was scattergun.
Mourinho (2021–24)
League finishes stayed at 6th, (underperforming the squad value) but he delivered:
Europa Conference League win
Europa League final
Spending was big at first (Tammy Abraham the headline), then suddenly stopped. Two summers of selling meant the squad stagnated. However, in some respects it was necessary pruning of high wage, aging underperformers.
De Rossi / Juric / Ranieri (2024/25)
A chaotic season with three managers, but still finished 5th. Spending returned — younger, cheaper players, plus the Dobvyk gamble.
Gasperini (2025– )
Finally, a coach who fits the club’s new model: smart recruitment and player development.
3rd place in his first season (outperforming the squad value)
A young, balanced squad
2026/27: currently top of Serie A, with the 4th‑best squad on paper
With young, high-quality players like Wesley, Mora and Castro (and plenty others) Roma now look like a club built to compete for the title over the next five years.
Seven Years On: Where Roma Stand
Roma fans have lived through mistakes, misfires, and some baffling decisions — but the club now has:
A strong core of experienced players (though not overly reliant on detiorating players)
A wave of talented young players
A manager aligned with the recruitment strategy
A squad built to peak together
It’s taken time, but the plan has come together.
What This Means for Everton
TFG’s approach at Roma tells us a lot:
They are determined to find value in the market
They don’t throw money around
Once a squad is under control, they refer younger high quality players
They want a squad that grows together
They do learn from mistakes (and they’ve made plenty)
This summer has been a setback for Everton. TFG tried to do things too cheaply and (at the same time as material improvements in some areas) it’s hurt the squad. But Roma’s journey shows they do correct course. Moyes might well be a good fit again for working with this kind of squad - but probably won't be retained.
In future seasons / windows expect:
More signings
Younger profiles
Higher volume recruitment
A manager chosen to fit the player development model
Sustainability – no more lurching from one financial crisis to another
Not instant miracles — but still (acknowledging this summer’s setback) potential for a squad capable of competing for Champions League qualification within three years.
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