On 19 December, the deal to acquire Everton Football Club has been completed at Goodison Park after receiving approval from the Premier League. Friedkin, who also owns Roma, has acquired a 99.5% stake in the club, bringing to an end Farhad Moshiri’s eight-year spell on Merseyside. Borson admitted the new owners will likely have to spend money on certain areas that have previously been overlooked due to Everton’s financial struggles.
They have paid around £700 million for the club in its entirety. On top of that, you have got the money they are going to have to put in for running costs to get it up to a sort of minimum level. I think what tends to happen in situations like this is that because Everton have been so restrained in their ability to spend money for the best part of two years really, there is likely to have been quite a lot of spending that’s not been undertaken and needs to be undertaken. If you look at the essential spend of £700 million plus maybe £100 million on top for running costs over the next year or so, we are talking about a deal for £700-800 million