It has been nearly eight months since The Friedkin Group completed their takeover of Everton and things seem to be ticking along nicely behind the scenes.
TFG’s decision to bring David Moyes back as manager helped the club survive in the Premier League, and the balance sheet and debt structure have been tidied up too.
Everton are therefore in a good place ahead of their big move to the Hill Dickinson Stadium, and Goodison Park has also been secured as the stadium for the women’s team.
However, TFG are not resting on their laurels – Everton’s owners recently set up a company called Pursuit Sports, which will house the group’s sports investments.
Pursuit Sports will be responsible for supporting and running a portfolio which, alongside Everton, also includes Italian giants AS Roma, and French fourth-tier club AS Cannes.
Dan Friedkin wants to buy a ‘big four’ American franchise (NFL, NBA, NHL, MLB) for the group too, which would be a statement of his ambitions at Everton and in global sport.
In addition, Everton have appointed former Fenway Sports Group executive Dave Beeston to run the company as CEO.
TBR Football spoke exclusively to football finance expert Kieran Maguire about what TFG’s latest venture might mean for Everton.
Photo by Massimo Insabato/Archivio Massimo Insabato/Mondadori Portfolio via Getty ImagesThe Friedkin Group see ‘growth opportunities at Everton and beyond’
Maguire described FSG’s appointment of Beeston to head Pursuit Sports as “the right decision” and, while the “jury is still out” on the multi-sports model, there is certainly scope for economies of scale.
“Certainly on a personnel side, they have made the right decision,” said Maguire. “He (Beeston) has the scars – he knows what works and what doesn’t.
“The multi-sports model, as opposed to the multi-club one, is intriguing. I don’t think we have necessarily seen the benefits to date.
“We understand how the model works in theory. Does it work in practice? I think the jury is still out, and I think the same goes for the multi-club structure.
“It allows you to employ big beasts, people who have vast experience in marketing, commercial arrangements and networking with the right kind of partners. That can only work at the elite level.
“It’s clear that The Friedkin Group wants to go down this particular route. They see growth opportunities at Everton and beyond.”
The balance that The Friedkin Group need to strike
Maguire also stressed that The Friedkin Group must strike a balance between growing the business and not compromising the club’s identity, which could risk alienating fans.
“They will have to be diplomatic with the hardcore fanbase, and you have to sell the benefits to them,” Maguire continued.
“Evertonians are very proud of their local identity. They have got to make sure that is not compromised in exchange for growth.
“But then again, if Everton want to break into the top school of football clubs – and, remember, they were part of the original ‘Big Five’ in the 1980s – they need to have the resources.”