Everton will benefit from significantly more rich backing once Dan Friedkin acquires Farhad Moshiri’s shares. The Friedkin Group [TFG] is scheduled to formally gain ownership of the club by the end of the year, which will aid the Toffees’ journey toward Bramley-Moore Dock Stadium and, eventually, aspirations to return to the European stage, with significant directorial changes likely.
According to the Liverpool Echo [16 October], a new Forbes list this week now ranks Friedkin 393rd on the world’s rich list, with a net worth of £5.8 billion, compared to Moshiri’s £2.1 billion, despite suffering a 13% blow to his finances in the previous year. Friedkin’s successful previous year in business has mostly been driven by an exclusive partnership in America’s southern states to sell Toyota-branded vehicles, which will generate £8.4 billion in total sales in 2023. TFG also owns AS Roma, which traveled to Goodison Park for a friendly earlier this year while contacts were being formed, despite the fact that a takeover was doubtful at the time, and has assumed Everton’s £200 million debt to MSP Sports Capital.
Everton have an intriguing future under Dan Friedkin. Everton supporters have every right to be excited, not only because their team has been in the doldrums for a long time, but also because TFG’s financial backing is enormously powerful. Friedkin has so far said all the right things and created a fantastic mood on the blue part of Merseyside, leaving fans to imagine the Champions League anthem being played at Bramley-Moore Dock.
And these goals should not be unattainable for Everton – years of mismanagement on the field and financially have left some on the outside laughing at the prospect of one of England’s most historic teams competing in anything other than a survival war. On paper, Friedkin’s pockets are nearly three times larger than Moshiri’s. While that is the bottom line, the US-based corporation is taking on nine-figure debts and must work out any potential future bad surprises before splashing the cash. But one thing is certain: there is a plan in place.
A strategy for new life in the boardroom, and Toffees fans can have a far more compelling perspective on the situation than the barrel they were gazing down just months ago.
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