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The Friedkin Group reaches agreement to buy Everton

What do we reckon?

  • 👍

    Votes: 798 72.2%
  • 🤷 | 🧀🥪

    Votes: 266 24.1%
  • 👎

    Votes: 41 3.7%

  • Total voters
    1,105
It's in the drawer there @Neiler

I'm sure Dan Friedkin will take it out the drawer and study it intently.


Before burning it.

Can just imagine one of them coloured glossy wheels with copromote strategic objectives "Be efficient in all aspect of football operations" & "Engage with fans" & "Remain at the heart of the local community".

That will be £200k thanks Denise. Job Done.
 
When Moshiri come in - nothing changed.

It was something I mentioned a fair bit. Months after he first come in, and example later;



I never understood it.

I'll never understand it.

I speculated was there something preventing him making changes. I wondered was there an agreement Kenwright had to remain as Chairman with board decisions?

I wondered whether maybe Moshiri felt it didn't matter as he wanted to make all changes and the board was just a token setup - I mean, last year he was still banging on about the board being local. Were they just lip service?

We had a Director of Football promoted to the board - "responsible for the club's "whole footballing strategy". He's been crying since leaving he didn't really have control.

Anyway, appreciating this thread is about Friedkin - I'd expect to see Friedkins make a raft of sweeping changes and so recent press reports suggesting that work has begun isn't surprising.
I think it was Usmanov who was making any important decisions from day one. Moshiri was a mouthpiece for Usmanov and the Board was a mouthpiece for Moshiri.

We have seen that since the Russian invasion of Ukraine that the club has been rudderless and the surprising things are that we are still a Premiership club and that the stadium has been built.

The board , in my opinion, were powerless but well intentioned and made the mistake of staying in situ even when decisions they disagreed with were made.
Hiring Benitez as manager being a classic example. I think they may have felt that with the resources behind Usmanov that everything would come right.

Putin invading Ukraine scuppered any chance of that happening.

I don't think PSR would have been an issue when you think of the sponsorship being pumped into the club by Usmanov but unfortunately their management of the club was a disaster in spite of the money injected.
 
"A dream" 🤷‍♂️ Jesus wept



The fact that Bill Kenwright was never removed (and whilst the club was in debt to Rights and Media Funding to £200 million) should tell people everything.

It is the people leaving in the next months as much as incomings I look forward to seeing.

Particularly in the Communications Team.

For every individual removed that was hired by Bill Kenwright, we will be a step closer to being ran as a proper business



Lina Souloukou does not specialise in English law and I think her coming here is highly unlikely.



CHRIST 🤦‍♂️

That was one of two Denise Barrett-Baxendale did. One in 2018 when she arrived and that one.

We lost hundreds of millions of pounds and won the square root of ... naff ... all in that time
Slightly laying it on there but factually I am correct.
 

I was always under the impression Moshiri didn't make sweeping changes at board level when he came in because he didn't really have a clue what being a football club owner meant. He always felt like that young boy who'd just inherited his deceased dad's corporation.

I suspect leaving you know who in situ was part of the deal. I think it was that simple.
 
I think it was Usmanov who was making any important decisions from day one. Moshiri was a mouthpiece for Usmanov and the Board was a mouthpiece for Moshiri.

We have seen that since the Russian invasion of Ukraine that the club has been rudderless and the surprising things are that we are still a Premiership club and that the stadium has been built.

The board , in my opinion, were powerless but well intentioned and made the mistake of staying in situ even when decisions they disagreed with were made.
Hiring Benitez as manager being a classic example. I think they may have felt that with the resources behind Usmanov that everything would come right.

Putin invading Ukraine scuppered any chance of that happening.

I don't think PSR would have been an issue when you think of the sponsorship being pumped into the club by Usmanov but unfortunately their management of the club was a disaster in spite of the money injected.

I think the club was rudderless far before that, owing to their (Usmanov/Moshiri) scattered management. It's been more pronounced until Chong came along, and say what you will about him things seem to have calmed now that the managers of the business are allowed to manage it.

When one person owns a majority of the shares (and voting rights) of a private company, the board serves at the pleasure of that person. That person is the ultimate decision maker. Regardless of their level of incompetence, I will never believe that the board decided to churn through that many managers in such a short amount of time, for instance. And if you say that the board was incompetent, well, they served at the pleasure of the man that owns the club.
 

Sure he's on the windup at this point


19 times

I've posted an approximate timeline of statements and stadium cost values, mate.

That confirms those that deny it's costed ">£800 million" aren't looking at official documents like the Premier League Appeal Board decision that confirms it.

When confronted with the inconvenient facts, people like yourself are responding "stop saying this" 🤷‍♂️ without anything to back up a counter argument. Because you don't want to acknowledge the reality.

It's relevant to Friedkin as they've had to pay out themselves about £260 million to get this stadium finished.

The club literally told the Premier League Appeals Board it was as of 2023 "over £800 million".

It's mentioned in paragraph 135 section iii of the appeals board decision

“There was uncontested evidence that the new stadium posed an inevitable strain on the finances of the club which has to date committed over £800m to the project.”


This is at the same time thar Chong had told people that it was paradoxically fully funded yet there was "£100 million still to fund" (EFCSA meeting December 2023). Then they took more money from Friedkins after replacing MSP in 2024. As mentioned by Chong in Brighton programme notes in August 2024

Then Friedkins had to come in with yet another £60 million in September 2024


When people have challenged the costs, the club has come out and actively denied and obfuscated

Whilst to the Premier League Appeal Board they admitted it!



1728475917583.webp
 
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I'm not sure the average joe on the street needs to know all the minutia of how the stadium was financed.
Wealthy owner with extremely wealthy backer starts project.
extremely wealthy backer has assets frozen because of war.
Wealthy owner can no longer finance the project so uses the sale of the club as a vehicle to keep stadium funding going.
Meanwhile there is chaos at board level with the board and CEO resigning and the chairman passing away.
The person managing the stadium build steps in to be temporary CEO.
The stadium seems to be fully financed and on time.
Quite how Moshiri and Chong pulled this off is beyond me. By rights it should have been dead the minute russian tanks tried to roll into Kiev.

Moshiri is probably the worst owner in terms of what happened on the pitch but did incredible work keeping the stadium on track.
 
I'm not sure the average joe on the street needs to know all the minutia of how the stadium was financed.
Wealthy owner with extremely wealthy backer starts project.
extremely wealthy backer has assets frozen because of war.
Wealthy owner can no longer finance the project so uses the sale of the club as a vehicle to keep stadium funding going.
Meanwhile there is chaos at board level with the board and CEO resigning and the chairman passing away.
The person managing the stadium build steps in to be temporary CEO.
The stadium seems to be fully financed and on time.
Quite how Moshiri and Chong pulled this off is beyond me. By rights it should have been dead the minute russian tanks tried to roll into Kiev.

Moshiri is probably the worst owner in terms of what happened on the pitch but did incredible work keeping the stadium on track.

Only because Moshiri is being forced to give the club away (at a loss as a "distressed seller") and/or because Friedkin Group are bringing their substantial capital and influence to get it finished.

It's not Moshiri or Chong that "pulled this off". It's Friedkin Group. They're the ones that have stepped up to get it done.
 

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