Friedkin Group Explores Everton Sale as David Moyes Left Blindsided

When The Friedkin Group released a 170-word statement on Friday morning announcing they were exploring fresh investment options for Everton, shockwaves rippled through Merseyside. Less than two years after completing their December 2024 takeover, the Houston-based consortium led by American billionaire Dan Friedkin has confirmed it is open to relinquishing control. While phrased around testing the market for new investment, the announcement explicitly included the potential sale of a controlling interest, throwing the club into ownership uncertainty just as it prepares to leave Goodison Park for Bramley Moore Dock.

The announcement marks a jarring reversal for a regime expected to bring long-term stability. The Friedkin Group paid more than £400m to acquire a 99.5% stake from Farhad Moshiri, with Moshiri walking away with an initial £25m. That deal was supposed to end the financial crisis and toxicity of Moshiri's chaotic regime. Instead, TFG's tenure has proved low-key and underwhelming, defined by absentee ownership and a sudden willingness to cash out.

TFG Takeover (December 2024)

Over £400m (99.5% share)

Moshiri Initial Payout

£25m

Reported Asking Price

£750m to £800m

Estimated Club Debt

£380m (Guardian) vs £468m (Kieran Maguire)

Moyes Kept in the Dark: A Manager Out of the Loop

The most startling fallout of Friday's announcement is that manager David Moyes was completely blindsided. Speaking at a press conference, Moyes revealed he only learned Everton was up for sale on Friday morning when the statement was released to supporters. For a manager tasked with rebuilding the squad, discovering a potential ownership exit via a public press release highlighted a total breakdown in communication.

"Yeah I was surprised, they'd only came in a year and a half ago," Moyes said. "Most owners come in for a lot longer than that. We were all expecting them to be here for 20 to 30 years, however long it may be. But maybe the way things worked out over the transfer window, I probably had seen through it a little bit before that. It's probably all there for Evertonians to see now."

Moyes returned to Everton in January 2025 believing he would have the backing to push the club back toward European contention. Instead, the disconnect with ownership has been staggering. Chairman Dan Friedkin has never attended an Everton match. Even more startlingly, Friedkin has never spoken to Moyes since the manager returned in January 2025. That absence left Moyes managing without direct leadership from the boardroom.

Why TFG Wants Out: Competing Priorities and Quick Returns

TFG's decision to test the market after less than two years is driven by strategic strains, multi-club rules, and commercial opportunity. In December 2024, TFG bought Everton as a distressed asset laden with debt. Since taking control, the group stabilised club finances and secured funding for Hill Dickinson Stadium on more favourable terms. Testing the market now allows TFG to seek a quick, healthy profit.

However, competing commitments across Dan Friedkin's empire appear equally influential. TFG also owns AS Roma in Italy's Serie A—another high-profile club requiring serious investment—and Cannes. TFG has concentrated its efforts on Roma, while multi-club ownership rules impose tight restrictions on operating several teams simultaneously.

At the same time, Dan Friedkin is preparing to launch an NHL franchise in Houston worth roughly $3.5bn (£2.6bn). Given the vast capital needed to fund Everton's Premier League ambitions alongside these other ventures, TFG has decided to explore whether its resources are better focused elsewhere.

Recruitment Fallout: The Harrison Armstrong Backlash

The rift between ownership, management, and fans erupted during a calamitous summer transfer window. Throughout the summer, Moyes voiced clear frustration over recruitment difficulties, hinting at an ownership group lacking commitment. As Moyes acknowledged, the warning signs were already visible during those turbulent months.

The flashpoint arrived when TFG attempted to sell teenager Harrison Armstrong, one of the finest products of Everton's Academy in recent years, to Nottingham Forest in a £40m deal. To supporters who had weathered years of financial austerity, attempting to cash in on an elite academy graduate to a Premier League rival triggered fury.

The Armstrong saga permanently severed goodwill. Fans viewed the move as asset-stripping rather than sustainable recruitment. Financial pressure mounted further on June 10, when Everton was told to pay Burnley £35m over a historic PSR breach. Between regulatory liabilities and summer austerity, recruitment ground to a halt, leaving Moyes to manage a threadbare, unsettled squad.

Valuation Discrepancies and the Moelis & Company Mandate

To oversee the sale process, TFG has retained investment bank Moelis & Company. Although TFG is confident of attracting a buyer quickly and potentially concluding a deal this season, published reports reveal clear discrepancies regarding Everton's valuation and debt.

The Guardian reports an asking price of about £800m, which includes long-term debt of about £380m. That figure reflects the value of the stabilised club and refinancing secured for Hill Dickinson Stadium. In the event of a full sale, that price would deliver a strong return on TFG's £400m outlay.

By contrast, football finance expert Kieran Maguire told BBC Sport he expects TFG to seek between £750m and £800m for a complete sale, with an incoming buyer taking on current debts of around £468m. The gap between The Guardian's £380m long-term debt figure and Maguire's £468m current debt estimate highlights key accounting differences any suitor must untangle.

No Deal Confirmed: Stability in Limbo at Bramley Moore Dock

Crucially, no sale is agreed and no prospective buyer has been confirmed. TFG's statement stressed they are exploring new investment options, including the potential sale of a controlling interest, and will only consider parties deemed the "right stewards to take the club forward." Yet that language offers little reassurance to a club in limbo.

Everton is preparing for a landmark move from Goodison Park into its magnificent new stadium at Bramley Moore Dock, commercially designated as Hill Dickinson Stadium. That transition was intended to usher in a stable, ambitious era. Instead, the move unfolds under the shadow of an active auction process led by Moelis & Company.

For David Moyes, the announcement creates profound uncertainty. Squad planning and future recruitment cannot function smoothly when ownership remains unsettled. With Dan Friedkin having never attended a match or spoken to his manager, Everton faces yet another boardroom storm, waiting to see whether new stewards emerge or if the club remains stranded in limbo.