The Friedkin Group’s takeover of Everton is merely the beginning of the process to turn around a club in terminal decline.
TFG has a number of issues to address in order to “usher Everton into a new era, one that is marked by ambition and professionalism”.
Here, the PA news agency looks at their main priorities.
Resolve the managerial situation
The manager’s office has had a revolving door since Farhad Moshiri took over in 2016, with seven permanent bosses and, including caretaker stints, 11 separate managerial spells. Sean Dyche’s contract is up at the end of the season and TFG may decide to ride that out – as long as the team do not look like being relegated – in order to buy some time. However, the former Burnley boss is not universally liked by fans and a change at the top would be a populist move, but the next appointment has to be the right one for the medium term and not one which panders to supporters.
Squad strengthening
The quality of the playing staff has been eroded as the club sold its best players to meet profitability and sustainability rules, but it is now down to the bare bones. Eight players are out of contract in the summer, in addition to four loan signings. Of those on permanent deals, only striker Dominic Calvert-Lewin and second-choice goalkeeper Joao Virginia will be aged under 32 at the end of the season. Smart recruitment, which has not been a thing at Everton during the Moshiri years, is required as there is unlikely to be a vast amount of transfer funds available and with sporting director Kevin Thelwell also out of contract in the summer, there could be a significant change in direction.
Stabilise the club
Dan Friedkin writes to Evertonians following our takeover completion. ✍️🔵
— Everton (@Everton) December 19, 2024
Since Moshiri took over the club in 2016 there has been a terminal decline on and off the pitch. In his first full campaign they finished seventh; the last two seasons they were 17th and 15th. Finances have also taken a hit due to some injudicious spending, with the £89.1million loss for 2023-24 the sixth successive year of deficit. However, TFG has already agreed to repay some or all of the £225million loaned to Everton by Rights and Media Funding which carried a 10.25 percent interest rate, renegotiated the repayment of a £200m loan to 777 Partners, who were Moshiri’s preferred buyers, and refinanced long-term debt relating to the new stadium at Bramley-Moore Dock.
Capitalise on Bramley-Moore Dock
The one advantage TFG has, and one of the primary driving factors in their interest in the club, is the new stadium at Bramley-Moore Dock which will open for next season. State-of-the-art, modern facilities – and potential naming rights – offer a huge commercial opportunity to make the most of a venue which is unused for half of the season and effectively closed for two months in the summer. A capacity of almost 13,000 greater than Goodison Park will provide an immediate lift but the associated spin-offs of hospitality and events will bring in previously unobtainable revenue.
Maximise the goodwill
After eight years of chaos and, at times misery, under Moshiri, fans have been reenergised with optimism for the future. However, that will only last as long as improvements can be seen on and off the pitch. TFG has to make the most of their new owner ‘bounce’ to harness the period of positivity and push through change in collaboration with supporters, not despite them.
