{"id":1370994,"date":"2024-12-21T06:00:57","date_gmt":"2024-12-21T06:00:57","guid":{"rendered":"https:\/\/www.squawka.com\/en\/?p=1370994"},"modified":"2024-12-20T23:33:29","modified_gmt":"2024-12-20T23:33:29","slug":"four-problems-awaiting-friedkin-group-everton-takeover","status":"publish","type":"features","link":"https:\/\/www.squawka.com\/en\/features\/four-problems-awaiting-friedkin-group-everton-takeover\/","title":{"rendered":"Four problems awaiting Friedkin Group following Everton takeover"},"content":{"rendered":"

At long last, the Friedkin Group have completed their takeover of Everton<\/a>.\u00a0<\/strong><\/p>\n

The American consortium have conducted a long-running push to add the Toffees to their portfolio of football clubs alongside Italian giants AS Roma, with a deal in excess of \u00a3400m for 99.5% of the club finally going through on Thursday.<\/p>\n

“I take immense pride in welcoming one of England’s most historic football clubs to our global family, the Friedkin Group. Everton represents a proud legacy, and we are honoured to become custodians of this great institution,” Dan Friedkin wrote in an open letter.<\/p>\n

[dugoutvideo id=”eyJrZXkiOiIiLCJwIjoic3F1YXdrYSIsInBsIjoiN2FtcmNLc1cifQ==” partner=”squawka”]<\/span><\/p>\n

“Whilst we are new to the club, we fully understand the vital role Everton plays in local culture, history, and the lives of Evertonians here and around the world.<\/p>\n

“We are deeply committed to honouring this legacy while contributing positively to the community, economy, and people of this remarkable city.”<\/p>\n

Friedkin now controls one of the most historic clubs in European football. Founder members of both the Football League and the Premier League, with nine league titles, five FA Cups and a European Cup Winners’ Cup to their name.<\/p>\n

There will be a level of scepticism among Evertonians, who are still burned from the Farhad Moshiri era. However, many likely won’t be able to help themselves in getting at least a little optimistic about what lies ahead.<\/p>\n

Of course, there are a host of problems for the Friedkin Group to address now that they have the keys to Everton Football Club. Here are four of them:<\/p>\n

1. Massive debt and t<\/strong>ransfer strategy<\/strong><\/h2>\n

According to their latest accounts, Everton’s debts now stand at a whopping \u00a3330.6m. Even among the numbers floated around in modern football, that’s an eye-watering amount. But\u00a0there is a significant positive in that most of the debt is expected to be converted into equity, repaid, or restructured.. That should free up Everton to make the most of their new stadium next season, with all the financial benefits that will come with it.<\/p>\n

However, in the short and medium terms, the Toffees are still going to be severely hamstrung by profit and sustainability rules.<\/p>\n

According to Forbes<\/a>, Dan Friedkin is worth \u00a36.15bn, which makes Everton one of the richest clubs in the Premier League<\/a>. However, you only have to look at Newcastle United to realise that a super-rich owner no longer translates into massive spending on marquee signings.<\/p>\n

\n

Club Statement: Everton Football Club acquired by Roundhouse Capital Holdings Limited, part of The Friedkin Group. ?<\/p>\n

— Everton (@Everton) December 19, 2024<\/a><\/p><\/blockquote>\n