Everton ‘heavy price’ emerges as The Esk reacts to £233.4m Friedkin development
Everton shareholders are forced to pay a “heavy price” after The Friedkin Group issued new shares, according to The Esk.
It emerged on Wednesday (8 January) that Everton Football Company Ltd have issued 1,336,537 new shares worth £174.66 each and totalling £233.44million, with Roundhouse Capital Holdings Ltd, Friedkin’s acquisition vehicle, acquiring them.
The Esk explained that means The Friedkin Group now have 99.5 per cent ownership of the Merseyside-based club and suggested that the remaining shareholders would not be best pleased to see shares being issued at £174.66 after they were auctioned at £3,400 as recently as November 2024.
“It does, of course, come at a cost to existing shareholders who retain the remaining 7,969 shares (0.5%) in Everton Football Club”, Quinn wrote on his website (9 January).
“Whilst the value of the club has risen due to the recapitalisation and restructuring of debt, as is always the case, existing shareholders pay a heavy price for the mismanagement of the previous owners.
“The issuing of new shares at £174.66 per share is in stark contrast to the previous most recent traded price at auction on 29th November 2024, just prior to the Friedkin takeover, of £3,400.”
Everton shareholders paying price for Farhad Moshiri mismanagement
Farhad Moshiri can take pride in overseeing the construction of the Bramley-Moore Dock stadium, while he also deserves credit for committing to waive the £451m owed to him.
However, there is no denying the British-Iranian businessman ran Everton to the ground during his stint as their owner.
Supporters were delighted to see his back when Dan Friedkin and Co announced the completion of the takeover on 19 December 2024.
The new owners have had to make some changes to make sure the Goodison Park outfit achieve financial stability.
Friedkin has injected an additional £289m into the club, as evidenced by a Companies House document relayed by Kieran Maguire on 8 January.
The finance expert believes the money will be invested into completing the stadium work and paying off existing loans.
With the Friedkins working hard to rectify the mistakes of the previous owners, there is an air of positivity around Goodison Park and Finch Farm.
In other Everton news, the Toffees are running the rule over one former international manager as they consider replacing Dyche.
For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone