Dan Friedkin set to hire figure known for smashing transfer records in Everton takeover

07/02/2024 12:00 PM

Dan Friedkin is primed to appoint a figure known for sanctioning lavish transfer budgets once his takeover of Everton is complete.

The US media and sports investor, who commands assets worth almost £5bn, has entered into exclusive talks with Farhad Moshiri to buy Everton.

Unlike the previous set of exclusive talks between 777 Partners and Moshiri, the deal is widely expected to be agreed and ratified by the Premier League without incident.

That could still be several weeks or months away, given that the specifics of what will be a highly complex deal are still to be ironed out.

But Friedkin appears to already planning what the Merseyside club would look like under his charge.

That includes the potential appointment of one individual who would effectively be his second in command behind the scenes.

Dan Friedkin to appoint son, Ryan, to senior Everton position

Everton will not be the first football club in the Friedkin network.

Since 2020, he has been the controlling shareholder in Italian giants AS Roma, while the 59-year-old also added French side AS Cannes to his portfolio last year.

At both clubs, Friedkin has appointed his son, Ryan Friedkin, into senior positions.

Now, as reported by The ECHO, it appears that he is set to do the same at Everton.

While his exact remit at the club has not been specified, it would likely be in a director role, similar to his position as vice-president at Roma.

At the club, Friedkin sanctioned a net outlay of almost £100m in 2021-22, which was a record for the three-time Italian champions.

And while not on the same scale financially, reports from France suggest that Friedkin has given AS Cannes almost £2.5m to spend this summer.

That is a record figure for a club in the fourth tier of the French pyramid.

And while Everton are, at this stage, simply incapable of breaking their own transfer records established under Moshiri, the developments bode well for the club in the long term.

• READ MORE EVERTON FINANCE NEWS: Three clues from Euro 2024 that Dan Friedkin could be set to strike £200m off-pitch deal for Everton

Can Everton spend in the transfer market without breaching PSR?

Everton appear to have met the Premier League’s Profit and Sustainability Rules threshold for the three years up to 2023-24.

That is in part thanks to a creative approach to player trading, which has seen players exchanged for equivalent fees will fellow PSR-threatened clubs to provide a short-term boost to the accounts.

But with the next assessment window covering a period when Everton have sustained heavier losses, worrying times are on the horizon.

What’s more, the Premier League appears to want to close certain loopholes that are currently acting as workarounds for PSR.

That includes the quasi-swap deals that have been so popular in recent weeks, while the league are also disputing the capitalisation of loans for Bramley Moore Dock stadium in Everton’s 2022-23 accounts.

Nor will Everton be able to capitalise in any meaningful way from the sale of the Goodison Park site, in contrast to the likes of Chelsea who have sold on-site facilities to boost their PSR position.

With all this in mind, it appears that things could get worse before they get better for Everton in the Friedkin era.