Everton's impressive new Hill Dickinson Stadium
Everton's impressive new Hill Dickinson Stadium (Image: Molly Darlington/Getty Images)
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Everton have been put up for sale by their American owners just 48 hours before their Premier League showdown with Hull City at the MKM Stadium on Sunday afternoon.
The Friedkin Group (TFG) say they are ready to sell Everton less than two years after completing their takeover of the Merseyside club. The American ownership group is seeking external investment in the Merseyside outfit but would consider selling if the right buyer emerged to take Everton 'forward.'
TFG completed its takeover of Everton on December 19, 2024, in a deal understood to be worth more than £400m for its 99.5 per cent stake in the club from Farhad Moshiri. In a club statement released on Friday morning, the Blues confirmed TFG are 'exploring new investment options' for the club, including the 'potential sale of a controlling interest.'
"When TFG became custodians of Everton, the Club faced significant financial uncertainty and challenges both on and off the pitch. The immediate priority was to provide the stability, investment and support needed to secure the Club's future, including helping to bring the long-promised stadium to completion for its deserving supporters," a statement read.
"With that foundation now safely in place, the time is right to consider the next chapter for Everton. We will only entertain interest from parties who we strongly believe will be the right stewards to take the Club forward and build on the momentum that has been established.
"Throughout this process, TFG’s focus will remain unchanged. We will support the Club in all ways necessary to achieve success on the pitch and will continue efforts to make a positive difference in the communities the Club serves. TFG and the Club will not be commenting further while this work is underway."
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The owners have set a condition for a potential takeover, stating they will only sell if the right buyer comes forward. Until then, they intend to continue supporting Everton and remain at the club.
The Texas-based Friedkin family have largely maintained a low profile since taking control. Dan Friedkin, the Blues chairman, has yet to attend a match at either Goodison Park or Hill Dickinson Stadium. This contrasts with his more hands-on approach at AS Roma, where he has made personal visits to meet players and staff.
David Moyes previously admitted that he has never spoken directly with TFG owner Dan Friedkin. "My real contact is Angus [Kinnear, Everton CEO]. Angus is the one who I would go to see," the Blues boss said.
"Rishi [Majithia, TFG representative] is the next one and then the head of the Friedkin family in America. I don’t really get any direct conversations with them, but I do through Rishi, he is the one I would speak to."
Everton faced widespread criticism over a difficult summer transfer window, prompting TFG to explore investment in the club. The Blues pocketed more than £100m on deadline day, with their most creative talent, Iliman Ndiaye, last season’s top scorer, Beto, Tim Iroegbunam, and Nathan Patterson all sold, plus Adam Aznou loaned out.
Iroegbunam joined City in a deal worth as much as £20m but has been hampered by injury and will miss Sunday's 2pm showdown in front of a sold-out MKM Stadium crowd.
Following the late collapse of the deal to sign USA World Cup star Folarin Balogun from Monaco, Moyes was left with a first-team squad of just 18 outfield players, consisting of a solitary striker, left-back, and right-back.
Football finance expert Kieran Maguire has questioned TFG’s limited spending on transfers at Everton.. He told the ECHO this week: "While Everton have had to adjust to the last years of PSR and the introduction of SCR, there’s no doubt that the move to Hill Dickinson Stadium has given the club more flexibility in theory.
It’s a bit like having an extension to the overdraft on your credit card limit in terms of the amount of money available to the club to spend on recruiting. That clearly has not manifested itself in a way which has pleased fans. The move from Goodison, which was an emotional wrench, has been a disappointment in some aspects, because they thought the upshot would be the ability to invest in the squad and that hasn’t happened.
"Ultimately, The Friedkin Group are American sports franchise investors and investors, by definition, are looking for a return on their investment. Perhaps running the club as a solid enterprise in the Premier League, getting a couple of years of improved revenues and using that for the basis of a sale could form part of a broader strategy.
"If that is the case, then does it mean that the transfer budget is dictated to by non-football reasons rather than footballing ones in terms of not creating a significant transfer payables budget and transfer payables sum which might have to be dealt with on exit."
Everton, Roma and French club AS Cannes are the three major European football clubs owned by TFG, who acquired Roma from fellow American businessman James Pallotta in August 2020 in a deal worth $591m.
TFG are reportedly working on plans to launch an NHL franchise based in Houston, with the potential deal said to be worth around $3.5bn (£2.64bn).
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