British-Iranian businessman Moshiri invested more than £750m in the club and leaves with the legacy of delivering the club’s stunning new stadium on Bramley-Moore Dock, though his tenure will largely be remembered for fans’ protests and displeasure over his running of the club.
With most of the club’s debt turned into equity, being paid off or restructured, and the new stadium on the horizon, sources close to the Friedkin Group feel they have grabbed a “bargain” in taking over the club.
One task now is to galvanise a fractured following as Everton enter a new era, which is easier said than done.
Jeers and murmurs of discontent often fill the air at Goodison Park, which the Friedkin Group has experienced during its ownership at Roma, so it will need to engage with the passionate but frustrated supporters.
The Everton fan advisory board said in September, external that it was hoping to meet with the group to “help them to understand” what supporters expect from the new owners.
But all is not well at Roma.
Podcaster Andy Mattioli told BBC Radio Merseyside there is a “tense atmosphere” between the owners and supporters, adding: “The fans are angry. Many of them are saying: ‘Sell us – because in four years you have clearly misunderstood what we are all about.'”
That fury stems from the sacking of club legend Daniele de Rossi just four games into this season and a poor start to the campaign sees the club lie 12th in Serie A, just two points above the relegation zone.
According to Forbes, external, chairman Dan Friedkin is worth £6.15bn but the Premier League’s profit and sustainability rules (PSR) mean splashing the cash with a marquee signing will not be feasible, as Saudi-backed Newcastle United have found out.
Everton’s net debt rose to £330.6m in their latest accounts, and having fallen foul of financial rules which led to deductions totalling eight points last season, any spending will need to be invested wisely.
Upon completion of the deal on Thursday, incoming Everton chairman Friedkin said in an open letter to supporters: “Whilst we are new to the club, we fully understand the vital role Everton plays in local culture, history, and the lives of Evertonians here and around the world.”
The new executive chairman Marc Watts added: “As stewards of Everton, we look forward to showing our commitment to the club through actions, not words.
“Our long-term vision is to harness the passion of fans and great qualities of the club to realise Everton’s full potential.”
