Everton owner Dan Friedkin has failed in his attempts to buy Major League Baseball’s San Diego Padres, losing out to a Premier League club owner in Jose Feliciano.
The Chelsea investor and Clearlake Capital co-founder is expected to officially take control of the Padres imminently after beating Friedkin and a number of other investors with a £3bn takeover bid.
For The Friedkin Group, it’s a setback. They launched Pursuit Sports in July last year with a view to housing Everton, AS Roma, AS Cannes and any other future sports investments under one umbrella.
Dave Beeston – an ex-colleague of Feliciano’s at Clearlake, as well as former member of Liverpool ownership group’s Fenway Sports Group’s top brass – was appointed to oversee the project, saying “we will use our scale, insights, and expertise to unlock and empower the leadership at each of our clubs.”
How do you feel about Everton being part of a multi-club network?
Toffees' links to Roma and AS Cannes could be problematic – but there are benefits too
Discussion point creative showing clubs owned by The Friedkin Group worldwide
The Friedkin Group multi-club network Credit: Massimo Insabato/Archivio Massimo Insabato/Mondadori Portfolio/Getty Images
Since the group’s formation, Dan Friedkin has failed in a bid to buy the NBA’s Boston Celtics. Previously, he tried to acquire the Houston Rockets.
Clearly, the Californian, Texas-based billionaire’s ambitions do not solely lie in European football, where UEFA’s multi-club ownership rules could yet cause him problems should Everton and Roma ever qualify for the Champions, Europa or Conference League football in the same season.
Beyond the Hill Dickinson Stadium and Stadio Olimpico, however, how might The Friedkin Group’s dream of acquiring one of North America’s powerhouse sports franchises affect their football operation?
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“He has very big plans in sports,” says University of Liverpool football finance academic and Price of Football podcast host Kieran Maguire, speaking exclusively to Everton News.
“He wants to build a portfolio of assets. He has been successful outside of sport and he is a sports fan, so this does indicate what he wants to do next.
Everton v AS Roma - Pre-Season Friendly
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“There is still a view that sports rights have a long way to go before they max out, and the fact that Friedkin is gambling on that suggests he is bullish. He is also happy to go along for the ride simply because he enjoys sport.
“He has been successful enough elsewhere that he can absorb a lot of the cash commitments at Everton. The more you look at the Everton accounts and the deal that he acquired the club for, the more it looks like a bargain. European football would be very beneficial for Everton in terms of their cash demands.
“That said, it does strike me as unusual that Dan Friedkin hasn’t been to a match yet.
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