Everton supporters have been given another reason to watch The Friedkin Group’s search for new investment closely.
Yesterday’s reports suggested TFG were looking to bring fresh investors into the club, potentially through the sale of a significant minority stake.
The Athletic has now gone further. It reports that while several sources believe the preferred plan is still to bring in a junior partner, other sources believe TFG could ultimately be looking for an exit.
That would be a very different story.
Minority stake could be only the first step
There is still plenty of uncertainty.
The Athletic says nobody is speaking on the record and stresses that the most commonly cited plan remains finding a partner to share the financial burden of trying to move Everton back towards the upper end of the Premier League.
But it has also spoken to sources who believe a minority investment could become the first stage of a longer-term change of ownership.
That possibility was not part of the original picture.
Liverpool’s recent minority investment has been cited as a possible comparison, although Fenway Sports Group has retained control at Anfield.
The Athletic also reports that TFG has made it known in American sports-business circles that it is willing to listen to offers for Everton.
Sources are said to believe the group values the club at around £1billion on an enterprise-value basis.
That distinction is important. Enterprise value includes debt and should not be confused with saying Everton’s shares themselves are worth £1bn.
TFG completed its takeover only in December 2024 and have since restructured the club’s debt and overseen the move to the Hill Dickinson Stadium.
Christopher Sarofim has also already taken an equity interest through Roundhouse Capital Holdings, which owns 99.5 per cent of Everton. Everton’s own shareholder information confirms that Dan Friedkin, Sarofim and Jason Kidd all hold equity interests in the club.
Until now, the investment search could reasonably be viewed as TFG looking for extra financial muscle.
That may still be where this ends. But once the possibility of an eventual exit enters the conversation, Evertonians are entitled to view the process rather differently.
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