Everton Sale Talk Turns to Numbers: TFG Could Settle at £800m as Investors Circle

Everton's owners, The Friedkin Group, are working with advisers on a process that could see them sell a significant stake in the club — and the first serious valuation numbers are now on the table. Former Everton chief executive Keith Wyness, speaking to Football Insider, believes the Americans could settle for a price around £800 million, some £200 million below the £1 billion figure attached to the club since its move to the Hill Dickinson Stadium.

The Financial Times reported earlier this month that TFG had appointed advisers to explore new investment, with a full exit among the possible outcomes. Broadcaster Elton Welsby then claimed on Sunday that the Friedkins had alerted prospective buyers they would be prepared to sell, although no asking price has been set and neither the club nor its owners have confirmed that a formal sale process is under way.

Stadium revenue is the sticking point

Wyness, who served as Everton CEO between 2004 and 2009 and now runs a football consultancy, sees the new stadium as the central weakness in any negotiation. Non-matchday revenue at the 52,888-capacity Hill Dickinson is, in his words, still "not fully operational", and the transport connection between Liverpool city centre and Bramley-Moore Dock remains unresolved.

They've got the big transportation issue from Liverpool city centre to the stadium still to crack if they're going to really make the most of those sorts of events. I think somewhere £800m to £1bn is where I think Everton will settle at the moment.— Keith Wyness, former Everton chief executive, speaking to Football Insider, September 2026

The gap matters because of what TFG paid. The Financial Times put the group's total cost of taking control in December 2024 at £331 million once debt repayment was included, meaning an £800 million exit would still represent a substantial return on a 22-month hold. Analysis by Read Everton notes other estimates placing the club's enterprise value nearer £790 million, with equity value closer to £400 million once net debt is stripped out.

A steadier club than the one they bought

Whoever comes in would inherit a business in far better shape than the one the Friedkins found. Everton's latest accounts showed record revenue of £196.7 million with the pre-tax loss cut to £8.6 million, £450.7 million of historic shareholder loans converted to equity, and £350 million of long-term stadium financing secured over 30 years. On the pitch, David Moyes' side are unbeaten in seven matches in all competitions.

Hurdles remain. Any change of control above 25 per cent of shares requires Premier League approval, and the precise change-of-control provisions in Everton's current financing are not public. The Friedkins' ownership of Roma also continues to raise UEFA multi-club ownership questions that a new investor would inherit. For now, the only certainty is that Everton's valuation is being tested in public — and the stadium that was sold as the club's future is the very thing dragging the number down.

Reported by Ines Kovač, OneLightScore football business and governance desk, with reporting from Football Insider, Read Everton and Financial Times coverage cited therein.