Everton Up For Sale Again: TFG Seek £750m Exit as Moyes 'Surprised

Everton up for sale: The Friedkin Group seek £750m exit as David Moyes admits 'surprise'

Everton are up for sale again after owners The Friedkin Group announced on Friday they are effectively testing the market. Football finance expert Kieran Maguire told BBC Sport he expects TFG to seek £750m-£800m for a complete sale, taking on current debts of around £468m.

What: The Friedkin Group are effectively putting Everton up for sale.
Price: Football finance expert Kieran Maguire expects £750m-£800m for a complete sale, with debts of around £468m.
TFG bought: Paid more than £400m for a 99.5% share in December 2024.
Moyes reaction: David Moyes said he only found out about the potential sale at the same time as the wider public.
Catalyst: The botched attempt to sell Harrison Armstrong to Nottingham Forest for £40m.
What's next: TFG will test the market, with Maguire expecting interest from the United States.

Why have TFG decided now is the time to sell?

Maguire believes several factors pushed TFG to this point. He said: "I think there are various factors at play. I suspect they were shocked by having to pay Burnley more than £35m for a breach of financial rules."

Everton were found to have broken Profit and Sustainability Rules over a three-year period, and Burnley argued the breach impacted their chances of staying in the Premier League in 2021-22. TFG injected £38m to cover the cost, while Everton have subsequently appealed.

"I think that perhaps they thought English football was going to become as litigious as trying to operate in the United States. This will not have appealed to them."
— Kieran Maguire, football finance expert, on TFG's thinking

"It is also a good time to sell because it is such a buoyant market. The Americans will be interested. There are only 20 Premier League clubs you can buy. There are lots of potential buyers out there. There is that scarcity factor."
— Kieran Maguire, on the timing of the sale

"I'd say TFG will look for £750m to £800m to sell. It can take 5 billion dollars or even more to buy a sporting franchise in the United States. I think they can see this as something they can flip - in other words, buy low and sell high."
— Kieran Maguire, on the expected price

The Armstrong fiasco that began the end

The catalyst for the sale announcement was TFG's attempt to sell teenager Harrison Armstrong, one of the finest products of Everton's Academy in recent years, to Nottingham Forest in a £40m deal.

The move was agreed by TFG until news leaked out, prompting loud threats of "a riot" from Everton fans during the game at Bournemouth later that day. Such was the reaction, TFG went into damage limitation mode to block the deal for the 19-year-old midfielder, but it was little more than a face-saving PR exercise after a catastrophic decision that instantly alienated the fanbase.

Everton then sold Iliman Ndiaye to Manchester City for £65m and striker Beto to Fiorentina, before a move for Monaco forward Folarin Balogun collapsed with no time to seek alternatives. It left Moyes a striker light and with only 18 senior outfield players.

What TFG have brought to Everton

Maguire believes TFG's tenure has provided a measure of financial stability following Farhad Moshiri's era of crisis, which will make Everton attractive to potential suitors.

"Everton have history and heritage. They are Premier League perennials. They look like they will stay there and they have a passionate fanbase who fill a superb 50,000-plus stadium."
— Kieran Maguire, on Everton's appeal

"You are not having to spend money on an upgrade of that stadium. I have a lot of respect for the finance people at the club. Unlike some of the chaos of Moshiri and what he left behind, you can lift up the carpet now at Everton and nothing unpleasant will come out."
— Kieran Maguire, on the club's condition

"To paraphrase a former Prime Minister, you have got an 'over ready' football club coming on to the market. If you are an owner who wants to accelerate things at a football club, you have a starting point for that. And my start point for potential buyers would be the States."
— Kieran Maguire, on the type of buyer

What was said

"I'm disappointed that Evertonians have to go through another period of 'who are our owners?' I truly believed with new ownership we were in it completely. My ambition coming back was trying to get Everton back to the levels they have been in the past, and that is challenging for Europe more often."
— David Moyes, Everton manager, on the sale news

"It has been a difficult summer for us. I only found out this morning. Maybe, I am a little bit surprised, but maybe I shouldn't be that surprised."
— David Moyes, on learning of the sale

"They have not really engaged with the club or Liverpool as a city. Dan Friedkin has never been to an Everton game, which shows the difference. With Roma, they have got a club in the Champions League - with all that entails financially - and one with a far greater chance of being there on a regular basis which, and we are only stating a fact, is not the case with Everton."
— Kieran Maguire, on TFG's absentee ownership

"I'm looking forward to getting the right people in to take the club further forward. It's a great club. If anyone wants to speak to me then I will be the first person to let them know that it is certainly worth buying."
— David Moyes, on potential new owners

How will TFG's tenure be remembered?

Maguire said: "With a mixture of disappointment and indifference. I think they now have the right people at Everton, while I think under the Moshiri regime there were some there for decoration rather than substance."

TFG will hope to do a quick deal. Maguire added: "Because so much due diligence has been done by the Friedkins themselves, all of the gremlins will have been highlighted and dealt with. It is now down to satisfying the Premier League's owners and directors' scenario. Are you a wrong 'un? Do you have the money? Can you prove where the money has come from - not just to buy the club but to run it?"

Talking points

Is TFG's £750m-£800m valuation realistic when buyers must also absorb £468m of debt? Maguire thinks the scarcity of Premier League clubs justifies it, but the total outlay would exceed £1.2bn.
Should Dan Friedkin's failure to ever attend an Everton game be seen as a red flag for the Premier League's owners and directors' test? It certainly underlines how detached TFG have been from Merseyside.
Did TFG underestimate fan power by agreeing the Harrison Armstrong deal before it leaked? The swift U-turn showed the boardroom was not prepared for the backlash.
Can David Moyes attract the right buyer by publicly endorsing the club? His willingness to speak to potential owners could be an asset, but he also needs a striker before the window shuts.

What happens next

TFG will test the market immediately, with Maguire expecting American interest. Any sale must pass the Premier League's owners and directors' test, which includes proving the source of funds to buy and run the club. Moyes, meanwhile, faces Sunday's match away at Hull with only 18 senior outfield players and no fit senior striker after the collapsed move for Folarin Balogun. Everton fans will watch the boardroom as closely as the pitch.

Frequently asked questions

How much are Everton up for sale for?

Football finance expert Kieran Maguire told BBC Sport he expects The Friedkin Group to seek between £750m and £800m for a complete sale, taking on current debts of around £468m.

Why is David Moyes surprised by the Everton sale?

Moyes said he only found out about the potential sale at the same time as the wider public, admitting he was "a little bit surprised" but "maybe I shouldn't be that surprised" after a difficult summer.

Who could buy Everton from The Friedkin Group?

Kieran Maguire said: "The Americans will be interested" and identified the United States as his start point for potential buyers, citing the scarcity of Premier League clubs and the high cost of US sports franchises.