How US Owners Flip Premier League Clubs
LONDON 10 OCTOBER- EBM WEEKEND READ By Nick Staunton Less than two years ago, the Friedkin Group rescued Everton. The club had been docked points for breaching spending rules, was carrying debts that its previous owner, Farhad Moshiri, could no longer comfortably support, and had seen a proposed takeover by American investment firm 777 Partners collapse.
Dan Friedkin, a Texan billionaire whose fortune came from car distribution, acquired Moshiri's 94.1% stake in December 2024, refinanced the club's debts and oversaw Everton's move from Goodison Park to the new Hill Dickinson Stadium on Liverpool's waterfront. This week, Friedkin put Everton up for sale.
The group has appointed investment bank Moelis and says that, with stability restored, "the time is right to consider the next chapter". The announcement illustrates a broader transformation in English football.
Clubs once owned for decades by local families or wealthy individuals with a personal attachment to the game are increasingly being treated as investment assets: businesses to acquire, restructure, grow in value and eventually sell. American investors are at the centre of that shift, and Friedkin's approach offers a revealing example of how the model works.
Join 40,000+ founders, investors and executives who read EBM every day. A club in financial difficulty may offer a buyer greater negotiating leverage, particularly when its owner needs an exit.
The new investor can refinance debt, address unsustainable costs, resolve outstanding disputes and invest in assets capable of generating additional revenue. For football clubs, the stadium is particularly important.
Under the Premier League's financial rules, spending capacity is closely linked to revenue. A modern, larger ground can increase matchday income, hospitality sales and commercial opportunities, strengthening the financial foundations of the business.
Everton's new stadium is therefore more than a new home for its supporters: it is a central part of the club's commercial proposition. Friedkin is no longer selling the Everton that required an urgent financial rescue.
He is offering prospective buyers a club with a new waterfront stadium, a restructured financial position and the potential to grow its revenues. The distinction matters because football club valuations increasingly depend on what an investor believes the business could become, rather than simply its current performance on the pitch.