There has been some more clarity regarding The Friedkin Group takeover of Everton released by i News and carried elsewhere, apparently garnered from an article at the Josimar independent website.

The first three paragraphs of this  i News story would seem to indicate that TFG are looking for additional investors to come on board: 

Everton’s prospective owners The Friedkin Group have begun the search for big hitters to join their Goodison Park revolution, with a comprehensive audit of the club underway.

i understands the group, a consortium owned by billionaire businessman Dan Friedkin, hopes to have cleared regulatory hurdles by December and want to be in a position to “hit the ground running” when the takeover is confirmed. So far, it’s understood, the process is progressing as planned with no red flags raised.

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It’s expected that with Everton’s Premier League status precarious there will be room for investment in the January transfer window, as well as fresh impetus in contract talks that have been paused while the takeover progresses – but with no decisions made on the future of manager Sean Dyche or Director of Football Kevin Thelwell the more immediate, noticeable impact may be off the field at first.

Nearly each subsequent paragraph and/or section has something of interest, so here is the rest of the article for your interest and delectation:

Indeed i has been told a process of identifying areas of the club that need to be strengthened has already begun, with a recognition from the group that Everton is currently an “exceptionally lean operation”. They have been operating with an interim CEO – Colin Chong – since June 2023 and insiders admit they are “light on C-suite experience” in the building.

The Friedkin plan is for a “rebuild” of neglected areas and i can reveal that the group hope to recruit externally, with no current plans to shift people from roles at Roma, the club they bought in 2020.

While Ryan Friedkin – a huge fan of English football who has been enthusiastic about the group’s investment in Everton – is likely to help oversee the club’s new era, there are no plans for him to relinquish his role as vice-chair at Roma and relocate to Merseyside.

He is acting as interim CEO at the Stadio Olimpico after Lina Souloukou’s departure [due to death threats to herself and her family! – SH] and the group are at pains to stress they remain committed to the Serie A side. Instead, it is more likely that a heavyweight senior management team is put in place and empowered to carry out their vision.

The Friedkins may turn again to the highly-rated football consultancy Retexo Intelligence, who help clubs identify and place backroom staff as well as evaluating club academies, sales strategies and “organisational and departmental structures”.

i understands that Retexo founder Charles Gould – who also offers a service around mergers and acquisitions – has been a trusted advisor of the group in the past and is set to aid the Everton restructure.

There was further evidence that the takeover is progressing with The Friedkin Group setting up Roundhouse Capital Holdings Limited last week, an acquisition vehicle for the Everton takeover. It named two directors – Analaura Moreira-Dunkel and Marcus Watts – who are long-standing Friedkin Group employees.

The group are also relaxed about court proceedings in New York between Leadenhall Capital Partners and A-CAP, the firm that has taken over 777 Partners’ £200m loan to the club. Investigative website Josimar reports the Friedkin Group have agreed a deal worth £66M and “preferred equity” with A-CAP – and that must be approved by Leadenhall for the takeover to be passed.

Friedkin sources maintain they are “very confident” the deal will be approved by the court and Leadenhall, one of the final pieces in a complicated takeover jigsaw.

So at least the Friedkins have seen what Moshiri failed to see, which is quite obviously that the Board, or the rump one we have, is not fit for purpose, and they have identified that the club has a 'lean workforce' – I presume in numbers?

TFG quite rightly may well have decided to 'outsource' any headhunting or recruitment to the (as quoted above) "highly-rated football consultancy Retexo Intelligence."

Seemingly TFG may have learnt some very expensive lessons in their ownership of AS Roma, and hopefully, once the Everton takeover has been ratified by all concerned parties, then we can see the club hopefully start to stabilise.

All-in-all, if or when TFG take us over, it can only be a good thing hopefully.  Whereby we can hope for a more efficacious and progressive running of the club's ability to generate revenue, thereby raising the PSR bar for the club.

However, personally, I don't see this as an overnight or rather short-term problem to be fixed, and I would not be surprised to see a certain Mr Dyche leading the team out at the new stadium for one more season maybe, while the good ship Everton gets a major overhaul, and a new crew is recruited.

All that I hope for is that, with TFG onboard, and maybe a couple of extra 'heavyweight' investors, we stabilise the haemorrhaging of money at the club, we increase revenue, and we start the process of adding quality to the playing staff.

It was mentioned elsewhere that, whoever took over the club, they needed to have a strategic plan for the club, and by the sound of this article, TFG seemingly do; the best thing is that they have made mistakes in ownership of a football club – and it wasn't Everton – and hopefully they have learnt from that!?

Otherwise, as Danny O'Neill would know, and all who have served in the forces, the 'Rule of the Seven Ps' would apply, that is:

Piss-poor planning precedes piss-poor performance!


Reader Comments (21)

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Michael Kenrick
Editorial Team
1 Posted 10/10/2024 at 09:43:01
Thanks for doing the gruntwork here, Simon, and pulling this one together with your comments and observations on what might happen as we move forward. 

I am perhaps a little jaundiced by the shameless clickbait in their headline that says this is all "paving the way for a huge January"… which (deliberately or inadvertently?) suggests 'huge' player signings in the January transfer window. Er… let's just wait and see what really transpires, eh?

I wasn't sure how much new stuff the article actually contained as we've already covered a couple of nuggets referenced near the end.

And my eye could not help but be drawn to an adjacent headline at i News that proclaimed BIG READ: 'The mess will take years to fix': Inside Ineos's first 10 months at Man Utd'!!!

But yes, let's hope it all goes through without a hitch…  

Dave Abrahams
2 Posted 10/10/2024 at 10:14:26
I hope that, while they have a good look at how the first team is operating, they also include from the off the Academy and reshape that part of the club which should be run successfully to provide players for the first team, and to sell and make profits for incoming transfers.

It has had some success in the past which helped to keep the Academy running and also where PSR is concerned but it can be run much better than it has been, particularly how the coaching staff is chosen and operated.

Paul Hewitt
3 Posted 10/10/2024 at 10:19:42
Why do the wheels of industry always take forever in this country?

It shouldn't take till the end of the year for TFG to prove they have the funds to complete the deal.

Robert Tressell
4 Posted 10/10/2024 at 10:53:53
Dave, completely agree. Academy and youth recruitment and development should be an absolute top priority. It is the only way to assemble players of the requisite quality.

Even the richest clubs are doing this – like Liverpool's purchase of Rio Ngumoha from Chelsea – because the conventional transfer system is unsustainable.

Danny O'Neill
5 Posted 10/10/2024 at 11:04:25
Great article, Simon.

I think we have to be realistic. It won't happen overnight. I love our heritage. This could be the platform for an Everton that recognises the achievements of the past, but doesn't live in it.

When this goes through, we have the opportunity to reinvent and establish Everton Football Club.

Anthony Hawkins
6 Posted 10/10/2024 at 12:27:49
I would have anticipated a faster turn-around and can only perceive the timeline might be dictated by resolution of the 777/A-CAP loan?
Steve Hogan
7 Posted 10/10/2024 at 13:35:19
The immediate change in culture may be a bit of a shock for some of the staff across all departments, on and off the field at Goodison, once the Friedkins take control.

It will be a painful experience, with not all personnel having the necessary skill set our new owners will demand. However, the change in culture and how we operate is long overdue, and one of the first tasks the hapless Moshiri should have carried out upon his purchase of Everton eight years ago.

If we want the club to compete at the top table, we need the best people available on the job market, and not just 'good Evertonians' that the previous Chairman awarded jobs to.

In turn, I hope the fan base recognise the job the new owners have in literally starting from scratch. It won't happen overnight, such is the scale of the task.

We've been down this road before, I know, but a degree of patience is needed.

Barry Rathbone
8 Posted 10/10/2024 at 14:15:26
Leaves me cold this stuff.

I know middle managers on the internet love discussing financial strategy and are bizarrely excited by boardroom changes and the creation of spoof job titles but the only thing that matters is player recruitment.

The Moshiri years and present incarnations of Man Utd and Chelsea show if you can't get your player recruitment right it doesn't matter what sponsorship deals you have, how many power point presentations are made, or how many shirts are sold — you're still crap.

Ring the bell when we start getting decent players in.

Robert Tressell
9 Posted 10/10/2024 at 14:19:55
Steve # 7 couldn't agree more. The culture at the club is rotten and this long predates Moshiri too.

This is not a case of 3 or 4 good signings plus a decent manager turns it around.


Tony Abrahams
10 Posted 10/10/2024 at 14:27:58
Ring the bells that still can ring,
Forget your perfect offering,
There is a crack in everything,,
And that's how the light gets in.

Try it Barry, I'm not sure if Leanord Cohen rings your bell, but if Everton can find lyrics like this, we will be champions again before the decade is out!!

Fred Quick
11 Posted 10/10/2024 at 14:29:27
I agree with Barry @ 8, I'm only concerned about what I'm watching on the pitch. All the other stuff is important for the club as a whole, but as a consumer of the game, I'm not interested in who does what in other aspects of the club.

The plan should be to try and build a team in a 3-year period who will attempt to compete properly in the Premier League and to bring back European football to Everton either via league placings or via the cup competitions.

What we've been through this past half-dozen years isn't an excuse for the club to continue to fail. It should act as a warning to the new owners that supporting the footballing operation should be the only aim of every department and the only thing that really matters is the on-field results.

Robert Tressell
12 Posted 10/10/2024 at 14:50:44
Fred and Barry,

I guess the point is that, unless we sort the boring stuff out behind the scenes, then recruitment and assembling a decent side will be an uphill battle.

The RS have punched above their (still considerable) weight because they get so much right off the pitch.

Same for lots of other clubs who have found it very straightforward to breeze past us in recent years.

- academy investment
- youth player scouting
- youth player development
- youth player trading for profit
- low cost market scouting
- use of affiliate clubs and sister clubs
- better use of loan system for player development
- better use of statistical analysis

None of this is now rocket science so doesn't give us some huge advantage – but it helps to remove a big disadvantage we've been carrying.

The commercials then help drive investment into the first team squad and academy etc.

Simon Harrison
13 Posted 10/10/2024 at 15:01:09
Hi Michael [1]

Thanks for posting this up, it took a little while to think about whether to post it or not, because as you say parts of it are repetitive from other threads; but, I felt it tied up everything nicely under a single article.

Also, try as I might, I couldn't find Paul Brown's article on Josimar about this, which was mentioned on several sites? However, I've not taken out a subscription at Josimar, so that is probably why I couldn't find it?

Regards the "Paving the way for a huge January" headline, yes unashamed clickbait as you say, but we've all got to make a living I suppose.

I know you feel that that would indicate 'Huge' player interest in the January window, but I was a little more circumspect and thought that with TFG taking control of the club and the start of the overhaul of the club, and the beginning of a new, modern, forward thinking era for Everton!

As Danny O'Neil said at post [5]

"When this goes through, we have the opportunity to reinvent and establish Everton Football Club."

Hopefully that will be exactly what happens... fingers crossed! 🤞

However, I am expecting maybe a couple of incomings, hopefully a couple of cross-club loans or transfers and maybe, just maybe, getting shut of any of the last vestiges of the 'deadwood'.

This whole time-frame drew me to the Doors tune, and the promise that this is finally The End of the Kenwright legacy... (And an end to the 'Curse!')

This is the end, beautiful friend
This is the end, my only friend, the end
It hurts to set you free
But you'll never follow me
The end of laughter and soft lies
The end of nights we tried to die
This is the end.

A new dawn and a new beginning hopefully!

As for United, I hope it takes them decades to sort out Michael, and I wouldn't shed a tear for them (which is my polite version of what I think!)

And yes, let's hope it all goes through without a hitch… Very much so!

COYB!

Simon Harrison
14 Posted 10/10/2024 at 15:04:30
Robert, many thanks for your input, mon ami, it saves me having to type that lot up, so thanks again!
Peter Thistle
15 Posted 10/10/2024 at 15:23:34
It's been a long time coming. You can't run a professional football club in the world's best league with amateurs at the helm.

The entire club staff need to be replaced with top notch pros. Bye-bye to the people who have been stealing a living of EFC for too long.

Dennis Stevens
16 Posted 10/10/2024 at 15:31:17
Fingers crossed for a reasonably swift & successful resolution of the ongoing takeover drama.

As for January, I'd be quite pleased if the purse strings are loosened just enough for Thelwell & Dyche to cover a couple of shortcomings in the squad – full-back springs to mind.

I don't expect any new owner to be in a rush to splash the cash, and I'd be a bit alarmed if they did – seen that show before and it don't end well!

Tony Abrahams
17 Posted 10/10/2024 at 17:18:55
A mostly positive article, Simon, and it's a very long time since we have seen ‘positivity' and ‘Everton' in the same sentence.

Having been a little bit underwhelmed by our performance on Saturday night, I was thinking about our club, and my own opinion is that we were very, very close to the end of our very long tether; I am not sure we could have survived another season of exceptionally lean operations.

The road to recovery will be long but Everton Football Club always had a touch of the phoenix rising out of the flames before we were inflicted with a terrible curse, so hopefully we can win the cup and give Goodison the send-off that it deserves!

Mike Gaynes
18 Posted 10/10/2024 at 17:21:49
Well pulled together, Simon, and a really good contribution. Cheers.

I agree with you that TFG's errors in the early days of their Roma ownership will be an excellent lesson for their Everton takeover, but one mistake they did not make was to splash big cash on big-name players. They played it cool and budget-conscious with the roster. Their only splashy recruit was Mourinho. So I would not expect a "huge" January.

I am not at all surprised that Friedkin will have a fully-assembled executive team ready for the moment he completes the purchase, and as I've said before, I would be similarly unsurprised to see Souloukou installed as our CEO – although she was run out of Rome by death threats from the ultras, she reportedly ran a highly responsible operation and both of her managerial changes appear to have been good decisions. Roma was winless in the league when she sacked De Rossi and ignited the ultras. They're 2-1-0 since.

Hanukkah and Christmas coincide this year. Let's hope it's a triple celebration for the completion of this transaction. I'll light every candle on the menorah. You go, Big Dan!

Dennis Stevens
19 Posted 10/10/2024 at 17:39:20
D'you think he'll do a celebratory fly past over our stadiums, old & new, Mike?

Trailing blue smoke, of course!

Paul Ferry
20 Posted 10/10/2024 at 19:13:34
Simon, thanks for putting this all together. It made me feel better.

Fred Quick @11: "I agree with Barry @ 8, I'm only concerned about what I'm watching on the pitch. All the other stuff is important for the club as a whole."

You do realise, Fred, that "on the pitch" depends on "all the other stuff"?

John Raftery
21 Posted 10/10/2024 at 21:18:02
Most club owners fail to match their own ambitions or deliver their promises to fans. Many make mistakes at the outset by rushing into appointments of new team managers and signing new players.

As others have commented, we must hope TFG has learned from their mistakes at Roma. Putting the club's operations on a sound financial footing, creating a sound supporting structure, and embedding robust systems with qualified personnel in key roles should be the early priorities; the priorities for January.

I would start to worry if our new owners ‘hit the ground running' in January by gambling their new club's future on hit-or-miss signings including that of a new first-team manager.


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