Everton owner Friedkin Group exploring sale of controlling stake, 22 months after takeover

The Friedkin Group (TFG) said Friday, Oct. 9, that it is "exploring new investment options for Everton Football Club, including the potential sale of a controlling interest."

The Texas-based group completed its takeover in December 2024. That is roughly 22 months ago.

What TFG said

The statement framed the move as a job done. "When TFG became custodians of Everton, the club faced significant financial uncertainty and challenges both on and off the pitch," it read. The priority was "stability, investment and support," including getting the stadium finished.

"With that foundation now safely in place, the time is right to consider the next chapter for Everton," the statement continued.

TFG also set a condition. "We will only entertain interest from parties who we strongly believe will be the right stewards to take the club forward and build on the momentum that has been established."

TFG and the club said they will not comment further while the work is underway. The group also said it will keep supporting the club "in all ways necessary to achieve success on the pitch."

How the Friedkins got here

TFG, led by Dan Friedkin, bought Farhad Moshiri's 94% shareholding through Roundhouse Capital in December 2024. That ended a turbulent period of financial trouble under Moshiri and failed talks with other suitors, including 777 Partners, MSP Sports Capital and the KAM Group.

Under TFG, the club moved into the Hill Dickinson Stadium. TFG also owns Roma in Serie A and AS Cannes in Ligue 1.

The Financial Times reported earlier this month that the owners were working with advisers to find new investors, a process that could end in the sale of a significant stake. Former broadcaster Elton Welsby claimed on Sunday that TFG had told prospective buyers it is prepared to sell and that no asking price has been set. Neither Everton nor TFG confirmed that at the time.

What the club might fetch

The numbers floating around are estimates, not TFG figures. Analyst Paul Quinn put Everton's enterprise value at £700m to £880m, with a central figure of £789m. He set net debt at about £389m, which leaves an equity value of £310m to £490m, centred on roughly £400m. The Times has reported similar figures.

Enterprise value includes debt. Equity value is what sits with shareholders once debt is netted out. A headline price of £800m would not mean £800m landing in TFG's account.

Former Everton chief executive Keith Wyness takes a higher view. He told Football Insider he expects the club to "settle" somewhere between £800m and £1bn. He also suggested TFG and potential investors could land far apart on value while the new stadium is still building its non-matchday revenue.

The Financial Times reported that TFG's total cost of acquiring Everton in December 2024 was £331m, once debt repayment and other costs were included. Since taking control, the group has refinanced expensive debt and secured long-term financing tied to the stadium, according to the same reporting.

Why sell now

Sky Sports News analyst Alan Myers said the announcement is no great shock. TFG said a few months ago that it was looking for investors, and the talk around the club was that a sale was always the aim. Myers' view is that TFG has now seen what it would cost to return Everton to the top table of English football. TFG has given no reason beyond saying the foundation is in place.

The club's recent ownership history is not short on instability. Moshiri's eight-year tenure ended in 2024 after the collapse of the 777 deal. A fresh sale would put another change of control on a club that finished moving into a new home only this year.

What comes next

No buyer has been named. TFG has not published an asking price or a timetable. The sale is also not a certainty: the wording is "exploring," and TFG has said it will entertain only suitors it considers the right stewards.

The central issue is the gap between what TFG wants and what buyers will pay. Quinn's equity estimate near £400m sits well below the £800m to £1bn range Wyness suggests. Which of those frames the talks will become clear only once a serious bidder emerges.