The deal marked the end of the now former majority share holder Iranian Farhad Moshiri time as having a controlling interest in the club, just under nine years since he made his initial move buying into Everton acquiring a 49.9% stake, which eventually grew to a 94.1% holding in the Toffees.
David Moyes was reappointed Everton manager only three and a half weeks later, showing that the group mean business in making positive changes to the club.
The return of Moyes has sparked a huge upturn in form winning four out of seven in the Premier League, including a three match winning streak which ended with a crucial 4-0 thumping of then fellow relegation strugglers Leicester.
Now the Merseysiders have reached the safety of a mid-table 14th, and have a comfortable 14 point cushion from the relegation places.
Marc Watts, the incoming Executive Chairman of Everton enthused: “We are committed to leading Everton into an exciting new era both on and off the pitch. Providing immediate financial stability to the Club has been a key priority, and we are delighted to have achieved this.”
TFG’s vision for the club is for now based on strategic priorities that include strengthening the men’s first-team squad through considered investment, cultivating home-grown superstars through the club’s academy and maximising the potential of the new stadium through long-term commercial partnerships.
Overall TFG goes all the way back to 1969 with the establishment of Gulf States Toyota, which is one of the largest independent distributors of Toyota vehicles in the world.
The group has continued its involvement with the automotive industry and owns USAL, a premier auto transport and logistics provider created in 1980, alongside long standing car dealerships such as Houston based Westside Lexus providing its clients with prestigious Lexus cars, SUVs and hybrid vehicles, which was established in 1989.
Yet the group has a wide ranging portfolio and has a footprint in Hollywood having founded Imperative Entertainment in 2014. The company has been behind huge film projects such as Killers of the Flower Moon, directed by Martin Scorsese and starring Leonardo DiCaprio. And worked with Clint Eastwood in his film The Mule, which he directed and starred in.
Its interest in sport began with owning golf courses, the first under its stable being the Diamond Creek Golf Club in North Carolina which was acquired in 2012, and five years afterwards the Congaree in South Carolina was brought into the group’s assortment of assets, the course held the Arnold Palmer Cup this year.
Then came its takeover of Roma five years ago in a deal worth £532 million, so what can Everton expect?
According to Forbes, Friedkin currently has a real time net worth of $7.6 billion, which interestingly this has more than doubled since TFG bought Roma.
This would suggest that the group has the financial firepower to strengthen Everton’s squad, and hand Moyes a significant transfer budget.
Figures compiled by Transfermarkt.co.uk revealed that Roma have been the sixth highest spenders in Serie A since TFG have been at the helm. Overall £285.3 million has been spent on players, with £216.8 million raised in transfer sales.
While there has been a considerable outlay, it is way behind Juventus who parted with £594 million during the same period.
Roma’s biggest spending spree over the past five years came in the summer of 2021 a year after the takeover releasing £109.3 million on transfers, perhaps inspired by the appointment of Jose Mourinho as head coach.
Striker Tammy Abraham was the most expensive signing from Mourinho’s old club Chelsea for £34 million, and defender Marash Kumbulla arrived from Verona for £22 million.
It brought the club’s first European success in 41 years by winning the inaugural Europa Conference League three years ago, with the club’s last continental triumph was winning the Fairs Cup back in 1961.
Only Juventus again spent more in that close season.
The Giallorossi then became far more thrifty before spending £88.7 million lasts summer, with the most expensive purchase being the £25.3 million signing of Ukraine striker Artem Dovbyk from Girona.
Rob Wilson, a Professor of Applied Sport Finance at the University Campus of Football Business, commented on the spending power of TFG: “It’s fairly strong, but we must always remember that the spending power these days is more about club revenue and the profit and loss in the accounts, as they relate to PSR.”
“Just because an owner has deeper pockets, does not mean they can spend it. And, with the stadium complete, there isn’t much off-field investment that is required.”
As for any danger of Everton being overlooked for Roma in the hierarchy of the group's operations, or any kind of conflicts within the organisation that could arise, Professor Wilson commented: “The Premier League is the holy grail for football club revenue so, unless Roma are in the title winning mix, or progressing in the Champions League, Everton will most likely be the crown jewel in the Friedkin stable.
“Were Everton to produce stronger sporting performance meaning that they qualify for the same European competition as Roma, there will be conflicts of interest that UEFA will manage.
“In that situation it is likely that one party sees a level of dis-investment. My bet would be Roma.”
Many reports have said that TFG has been willing to write off and cover £83 of Roma’s debts.
Yet there are also some warning signs as chaotic episodes in the Italian capital have surrounded TFG’s leadership.
After the sacking of Jose Mourinho in January last year which sent shockwaves through the club, there have been three more managerial appointments.
Club legend Daniele De Rossi lasted eight months having replaced Mourinho and was handed a three-year contract in June, only to be sacked three months later.
Ivan Juric, the now Southampton manager, lasted just two months in the Eternal City before they turned to veteran Claudio Ranieri.
The sacking of De Rossi provoked huge anger which led to CEO Lina Souloukou resigning after she took the brunt of the fans’ anger, before arriving at Nottingham Forest last month also as CEO.
Roma have also never qualified for the Champions League during TFG’s time as owners.
Everton’s new stadium on the Bramley Moore Dock opened for the first time on 17 February with its futuristic design, 10,000 lucky fans were able to see the stadium for the first time in a under-18s friendly against Wigan.
The opportunities that the development of the banks of the River Mersey will bring, were no doubt a huge motivation for TFG to extend its portfolio in Liverpool.
This is despite some evidence of perhaps inevitable rising costs for the new stadium.
As the accounts for the club’s subsidiary company Everton Stadium Development Limited showed that there has been a significant uptick in current net liabilities to just under £454.1 million up to June two years ago, from £228.5 million in the 12 months up to June 2022.
However, the facilities at Bramley Moore Dock have proven to be popular with seasonal memberships at all of its restaurants, that include a fine dining Asian restaurant to a steakhouse, a sell out.
“For a club like Everton outside European competition, the new stadium will be a game changer for their ability to generate revenue beyond media rights.” Professor Wilson continued.
“More in stadium spending, more corporate hospitality and more sponsorship activation potential. The stadium alone could add 20% to the revenue line.”
Evertonians will be hoping this new era can get them challenging for major honours again- its been a long wait since their last major trophy winning the FA Cup back in 1995.