TL; DR The Friedkin Group (TFG), the Houston-based private consortium of Texas billionaire Dan Friedkin, acquired AS Roma in August 2020 for an enterprise value of €591 million (~$700m / £532m), assuming […]
Special addition of the esk podcasts, a look back at Everton’s season with Richard Watts
At the end of a season that fizzled out in so many ways, it was good to get the level headed opinions of an old friend of this website, a campaigner in […]
The Analysis Series: Analysis of Everton Stadium Development Limited accounts, year ended 30 June 2025
Everton Stadium Development Limited Accounts 2024/25 Everton Stadium Development Limited (ESDL) is not a trading business in any meaningful sense; it is a special-purpose subsidiary whose entire reason for existing has been […]
Analysis of the financial restructuring and institutional recapitalisation of Everton Football Club and Roundhouse Capital Holdings Limited
Roundhouse Capital Accounts 2024/25 Executive Summary and institutional context The financial reporting period ending June 30, 2025, presents a total institutional reset for Everton Football Club. Following nearly a decade of fiscal […]
Final analysis of the financial reconstruction and stewardship transition of Everton Football Club and Everton Stadium Development Limited for the 2024/25 Fiscal Period
With the publication of the Everton Stadium Development Company Accounts 2024/25, it is possible to complete the analysis of the fiscal year ending 30 June 2025. Everton Stadium Development Company Accounts 202425 […]
The Analysis Series: Financial reconstruction: Analysis of Everton Football Club’s 2024/25 Annual Report and Accounts
Stewardship transition The financial reporting period ending June 30, 2025, reports on the most significant structural change in the history of Everton Football Club. Following a protracted period of fiscal instability, regulatory […]
The Analysis Series: Navigating multi-club ownership under UEFA Article 5 – the Friedkins, Everton & AS Roma
As of early 2026, approximately 380 clubs worldwide are integrated into MCO frameworks, with nearly 42% of clubs in Europe’s five largest leagues, the Premier League, La Liga, Serie A, Bundesliga, and […]
The Analysis Series: The Friedkin Group
The Friedkin Group (TFG), a privately held consortium headquartered in Houston, Texas, stands as one of the most structurally complex and financially potent business empires in the United States. As of […]
The events of the last 5 years are a useful context in which to place Everton’s current position
With disappointing recent performances on the pitch, a lack of communication from our current owners, and the recognition that there’s much to do rebuilding the squad and sorting operational issues at the […]
Balance sheet tidy up details confirmed, revealing previous year’s losses & scale of Roundhouse Capital’s funding of Everton
Further to yesterday’s announcements (23 December 2025) the details relating to the tidying of Everton’s balance sheet have now been released on Companies House. They reveal further information that would normarily only […]
The Friedkins acquisition & restructuring of Everton Football Club: Strategic, financial & operational analysis of their first year (2024/2025)
The relative stability of the club 12 months after the acquisition by the Friedkins is welcoming, and after years of near terminal decline, provided a platform from which the club can grow, […]
A detailed analysis of the Friedkin Group
Summary The Friedkin Group is a privately held consortium of global businesses and investments dominated by the strategic vision of its Chairman and CEO, Dan Friedkin. The Group generates its financial […]
The Friedkin Group’s European Football Portfolio – details of Pursuit Sports added
Three days ago (15th July) I issued a detailed report on The Friedkin’s ownership of Everton and their multi- club model. The article can be found here. The article also includes details of […]
The Friedkin Group’s European Football Portfolio: Acquisitions, Shareholding, and UEFA Regulatory Landscape
Having examined the situation across the Premier League with regards to multi-club ownership, the potential benefits and the potential pitfalls it is time to look specifically at Everton and the Friedkin’s […]
Plus ça change?
“All over the place, from the popular culture to the propaganda system, there is constant pressure to make people feel that they are helpless, that the only role they can have is to ratify decisions and to consume.” ― Noam Chomsky
Survival, by the skin of our teeth – summary and analysis of Everton’s 2024 Annual Accounts
The publication of the 2023/24 Audited accounts for Everton Football Club Company present the final full year impact (to 30 June 2024) of Farhad Moshiri’s disastrous reign as the majority shareholder. For […]
Letter to shareholders regarding the Friedkin takeover – details of future ownership
Shareholders in Everton Football Club Company Limited have received the following letter from the Board of Directors 18 December 2024 Dear shareholder, We hope this communication finds you well. We write to […]