Everton takeover: CEO provides leadership structure change update after Friedkin Group deal

Everton interim CEO Colin Chong has insisted there will be no immediate changes to the club’s hierarchy amid The Freidkin Group’s (TFG) prospective takeover.

The American firm, headed by billionaire Dan Friedkin, agreed a deal to purchase majority owner Farhad Moshiri’s 94.1 per cent stake last week. TFG came back to the table after pulling out of a transaction in July.

TFG’s arrival will see a permanent board appointed. Chong, who is the club’s chief stadium development officer, has served as CEO since June 2023 after the departure of Denise Barrett-Baxendale. Meanwhile, director of finance James Maryniak has acted as interim chief finance officer for more than a year after he replaced Grant Ingles. Moshiri has also sat on the board of directors along with chartered accountant John Spellman since changes made after the conclusion of the 2022-23 season.

TFG have Italian side AS Roma since August 2020. Friedkin is chairman and sits on the board of directors, along with his son and vice-chairman Ryan and seven others.

Fresh faces to Everton’s leadership are likely when TFG’s takeover is completed. It could go through by the end of the year and is subject to regulatory approval. But in the meantime, Chong and Co. will continue in their respective roles.

Writing in Everton’s match-day programme ahead of the 2-1 win over Crystal Palace, Chong said: “With the sale of Mr Moshiri’s shareholding agreed, the necessary regulatory approvals from the relevant bodies are now all that is required to bring a successful conclusion to the transition of ownership.

“While that approval process takes place, there will be no immediate change to the leadership structure of the club. As I have always made clear, the club will provide updates when there is notable progress to share in relation to any matters involving ownership.

“With that in mind, having confirmed a deal is now in place, we will not be making any further comment regarding the takeover until the conclusion of the regulatory steps. I can assure all fans, though, we will be working diligently to support the regulatory process to ensure, when concluded, the transition will be smooth.”