Friedkin Group completes Everton takeover, Manchester United cut steward bonuses
The Price of Football
Deep Dive
Why did the Friedkin Group complete the takeover of Everton?
The Friedkin Group completed the takeover of Everton to provide financial stability and repay some of the club's loans. The deal involved acquiring 94.61% of Farhad Moshiri's shares and issuing fresh shares, which will bring in additional cash to the club.
What impact will the Friedkin Group's takeover have on Everton's finances?
The takeover will allow Everton to repay some loans and reduce its annual interest bill, which was previously running at £50-60 million. However, the club is unlikely to have significant financial wiggle room for the January transfer window.
Why did Manchester United cut steward bonuses?
Manchester United cut steward bonuses, saving £50 per match, despite committing to the real living wage. This decision, made before Jim Ratcliffe's investment, seems penny-wise but pound-foolish, especially given the club's significant spending on managerial changes and infrastructure.
How much has Jim Ratcliffe invested in Manchester United so far?
Jim Ratcliffe has invested an additional $100 million in Manchester United, bringing his total ownership to around 28%. This money is intended for infrastructure improvements and helps with the club's financial fair play compliance.
What is the current state of Chinese football, and why has it declined?
Chinese football has declined due to a rethink by the Chinese government, which introduced a luxury tax on transfers and did not renew high-profile player contracts. The Chinese Super League is no longer generating the same level of interest, and there has been a cultural shift away from prioritizing football as a career.
Why is Saudi Arabia unlikely to experience a similar decline in football as China?
Saudi Arabia is committed to hosting the World Cup and has a young, entertainment-hungry population. The country is investing heavily in new stadiums and training facilities, and its national team has qualified for recent World Cups, making it unlikely to face the same issues as Chinese football.
Is Flash Score app licensed to display Premier League content?
Flash Score, with 100 million subscribers, likely has some form of licensing agreement with the Premier League, though it does not display the Premier League logo. The app offers live scores, player photos, and unofficial live audio commentaries, which may not be fully licensed.
Why do clubs with points deductions continue to play in cup competitions?
Clubs with points deductions continue to play in cup competitions because the Football Association does not operate financial fair play rules, and there are no sanctions for breaches in cup competitions. This is due to the fragmented governance in English football, with separate bodies overseeing the Premier League, EFL, and FA Cup.
- Friedkin Group completes takeover of Everton Football Club.
- Acquisition includes 94.61% of shares.
- Investment will help repay loans and improve financial stability.
- Minimal impact expected on January transfer window.
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