Everton’s owners hailed after pulling off brilliant new deal – ‘full marks to the Friedkins’
Everton are set to utilise a financial loophole which could help them avoid Profit and Sustainability rules (PSR) issues in the future.
The Toffees were deducted eight points in total during the 2023/24 season for two separate PSR breaches, which saw them drawn into a Premier League relegation battle
Back in December, The Friedkin Group completed a takeover at Everton, acquiring Farhad Moshiri’s controlling stake in the club.
Now the US owners have incorporated a new company, EFCW Holdings Company Ltd, and registered it at Goodison Park.
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes that his old side could be exploiting a financial loophole.
Everton owners praised for ‘very smart move’
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness revealed that the new company may have been set up to allow Everton to essentially sell their women’s team to themselves further down the line.
Chelsea were the first club to use the workaround, and last month, Aston Villa took advantage of the loophole to avoid a PSR breach.
Wyness added that the valuation of Goodison Park would be enhanced by having a team playing in it.
He told Football Insider‘s Inside Track podcast: “It was a very smart move by the new owners to come in and keep the women’s team at Goodison, because in my time, when we looked at selling Goodison for a move for the stadium, and you can get a lot more valuation for Goodison with a team playing in it.
“So rather than just selling it for commercial residential value, you’d be able to sell it for an increased valuation and put that on the books and really help with PSR situations to go forward.
“I think that’s the whole reason for the EFCW company, to really manufacture the greatest value possible out of the women’s franchise.
“It’s becoming the Chelsea loophole that all the clubs are now jumping on, and I think Everton have done well to position themselves to maximise the valuation going forward.
“Full marks to the Friedkin group for that. I think they position themselves well and that’s what EFCW is all about. I think we’re going to see a big number for the valuation of the women’s team coming on the books.
“They’re buying some new players, they’ve got a new administration in there. Things are looking very positive on that side and they’re looking to create a major valuation for that group.”
Everton eye Ivanovic
Meanwhile, Millwall striker Mihailo Ivanovic’s potential has been spotted by Everton and several other top-flight clubs this summer, sources have told Football Insider.
The 20-year-old scored 13 goals over 40 appearances in all competitions last season after a £2.8million move from Vojvodina, and that form has attracted attention from the Premier League duo and beyond.
Everton are in the market for a new striker after Dominic Calvert-Lewin’s much-anticipated departure on a free transfer, and sources told Football Insider that both they and Wolves are big fans of Ivanovic.
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