Source: The Athletic
Everton Football Club is undergoing a substantial transformation both on and off the pitch. This summer marks a period of accelerated transition as the club reshapes its player roster, installs a fresh recruitment team, and prepares both its men’s and women’s teams for long-anticipated stadium changes.
At the core of this shift is The Friedkin Group (TFG), Everton’s new majority owner. In recent days, TFG has taken steps that signal deeper financial involvement — and potentially greater control — of the Premier League club.
Here’s a breakdown of what’s happening at Goodison Park and why it matters.
A Strategic Financial Move
In a letter addressed to Everton shareholders this week, TFG outlined a plan to authorize over 1.1 million new shares. These would be acquired by Roundhouse Capital Holdings Limited — TFG’s investment vehicle — at a time of their choosing. Although the purchase price remains undisclosed, Roundhouse, which already controls 99.5% of the club, is expected to vote in favor of the move.
Given their majority stake, the vote is largely symbolic. TFG’s control ensures the proposal will pass, raising their ownership even further and marginalizing existing minority shareholders.
Not the First Time
This isn’t TFG’s first share increase. After acquiring Farhad Moshiri’s 94.1% stake in December 2023, they expanded ownership through share conversions and new issuances — including turning £450 million in shareholder loans into equity. The strategy helped provide immediate cash flow and reduce debt.
While some minority shareholders voiced concerns about the potential devaluation of their holdings, Everton officials have insisted that share scarcity will maintain value.
Why New Shares Now?
One significant factor appears to be the Premier League’s tightened Profit and Sustainability Rules (PSR) and updated guidelines on Associated Party Transactions (APT). Under these rules, shareholder loans can be scrutinized as operational losses — potentially affecting compliance.
By issuing new shares instead of loans, TFG injects funding in a way that doesn’t burden the club under PSR regulations — a crucial step considering Everton’s recent breaches, which resulted in points deductions during the 2023-24 season.
What’s Next for the Club?
If the share issuance proceeds as expected, Roundhouse will hold an even larger share of Everton. This opens the door for new minority partners within the Roundhouse structure. Notably, basketball coach Jason Kidd and Texas-based businessman Christopher Sarofim have already joined as minority investors, lending expertise in branding and commercial development.
Meanwhile, TFG recently launched Pursuit Sports, a portfolio management firm to oversee its growing sports investments — which now include Everton, AS Roma, and French club Cannes. Although all clubs will retain operational independence, there is potential for shared sponsorships and commercial deals across the group.
On the Ground: New Stadiums, New Era
Everton’s men’s team is preparing for a move to a new £800 million stadium on Liverpool’s waterfront. Simultaneously, the women’s team will begin playing their matches at Goodison Park — a shift aimed at boosting visibility and matchday attendance.
A new company, EFCW Holding Company Limited, has been created to manage revenues for the women’s team separately. The club has already begun conversations around attracting minority investment into the women’s setup — indicating a long-term vision for both competitiveness and financial sustainability.
Final Thoughts
Everton’s new ownership is moving fast, and with a clear strategy. By restructuring equity, navigating regulatory pressure, and pursuing parallel commercial avenues, TFG appears committed to stabilizing and modernizing the club.
While this chapter may dilute the influence of legacy shareholders, it positions Everton to compete both financially and structurally in a rapidly evolving football ecosystem.
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IMAGE: Everton FC
