Sport nationDan Friedkin, the US media and sports investor, is set to appoint his son, Ryan Friedkin, to a senior position at Everton once his takeover of the club is complete. Friedkin has entered into exclusive talks with Farhad Moshiri to buy Everton, and the deal is expected to be ratified by the Premier League without incident.
Ryan Friedkin has experience in football management, having held senior positions at AS Roma and AS Cannes, both of which are owned by his father. At Roma, Friedkin sanctioned a net outlay of almost £100m in 2021-22, a record for the club. He has also given AS Cannes a record £2.5m to spend this summer.
The appointment of Ryan Friedkin to a director role at Everton would likely see him become his father’s second in command behind the scenes. This move would indicate that Dan Friedkin is planning to take a hands-on approach to running the club, similar to his approach at Roma and Cannes.
However, the takeover and any subsequent appointments are still subject to Premier League approval, which could take several weeks or months. The deal is expected to be worth almost £5bn, making it one of the largest takeovers in Premier League history.
Everton fans will be hoping that the Friedkin takeover will bring much-needed investment to the club, which has struggled financially in recent years. The club has been creative in its approach to player trading, exchanging players for equivalent fees with fellow Premier League clubs to provide a short-term boost to the accounts.
However, the next assessment window covering a period when Everton has sustained heavier losses, and the Premier League appears to want to close certain loopholes that are currently acting as workarounds for Profit and Sustainability Rules (PSR). This could make it difficult for Everton to spend in the transfer market without breaching PSR.
The club’s new stadium at Bramley-Moore Dock is also a concern, as the Premier League is disputing the capitalisation of loans for the stadium in Everton’s 2022-23 accounts. Additionally, Everton will not be able to capitalise in any meaningful way from the sale of the Goodison Park site, unlike Chelsea, who have sold on-site facilities to boost their PSR position.
In conclusion, Dan Friedkin’s takeover of Everton is expected to bring much-needed investment to the club, but the appointment of his son, Ryan, to a senior position may raise some eyebrows. The club’s financial situation is still a concern, and the Premier League’s stance on PSR and stadium financing may make it difficult for Everton to spend in the transfer market. However, with Friedkin’s experience in football management and his willingness to invest in his clubs, Everton fans may be optimistic about the future under his ownership.
Sport nation
