The Friedkin Group's takeover of Everton is met with challenges both on and off the pitch. The club struggles with relegation threats and financial issues regarding Premier League regulations. Finding a permanent CEO is a top priority for the new owners.
The Friedkin Group has spent months in and around Everton while their takeover plans underwent scrutiny. They do not arrive on Merseyside ignorant that, for all the potential the club has to offer, short term challenges must be navigated .
That is true on and off the pitch, with the Blues flirting with a relegation battle after a tough start to the season and with issues still to be resolved in relation to the Premier League ’s Profit and Sustainability Regulations , rules the club has already failed to comply with on two occasions. There is much to do, and there are different approaches that can be taken in order to address the workload. These are the priorities. Finding the right CEO to drive through the new owners' vision Everton ’s efforts on the pitch have been dogged by instability and uncertainty off it. Issues in the boardroom have been at the forefront of that. This club has been led by an interim board since the summer of 2023, when the departures of chief executive Denise Barrett-Baxendale, finance chief Grant Ingles and non-executive director Graham Sharp marked a period of change at the top. Few events during former majority shareholder Farhad Moshiri’s tenure better epitomised the incoherency at the highest levels of the club than the efforts to replace them. At the time, Everton went on the record to state a new interim board would be announced within 48 hours. It took almost two weeks. That interim board was in power for almost 18 months. Integral to the structure was interim CEO Colin Chong. Promoted from his role in delivering the new stadium, he has appeared a figure of calm during the chaos of this period, representing the club to the Premier League and stewarding it through a host of challenges. His value to the incoming administration has been recognised immediately and he will remain in post - for now. Appointing a permanent CEO is the priority though and one of the most pressing one
EVERTON TAKEOVER FRIEDKIN GROUP CEO PREMIER LEAGUE REGULATIONS
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