Everton Friedkin Group owners inject £38m, reportedly to pay Burnley
Everton owners The Friedkin Group have injected £38m into the club, reportedly to cover compensation owed to Burnley.
The club was deemed to owe Burnley close to £40m after a landmark ruling earlier this year but the Premier League Independent Disciplinary Commission after the Clarets successfully argued that the Toffees’ breach of Profitability and Sustainability Rules for the 2021-22 season gave them an unfair advantage.
Everton managed to escape relegation by four points that season, finishing 16th, while Burnley were one of the three teams – alongside Watford and Norwich City – to be sent down to the Championship. Everton were then deducted six points in 2023 under former owner Farhad Moshiri.
The Premier League Independent Disciplinary Commission rewarded Burnley with £26m in compensation with interest payments on top that amassed to just shy of £10m.
An Everton share issue on Companies House showed an allotted number of 221,965 shares at a price of £175 apiece, totalling over £38m.
Everton investing for pay-out?
The Friedkin Group completed a majority takeover of Everton in 2024 in a deal that valued the club at £500m. The club is now worth in excess of £600m with a new stadium at Bramley-Moore Dock – the Hill Dickinson – on the banks of the Mersey seen as one of the best venues in English sport.
It will host matches in 2028’s European Championships, and has staged rugby union and rugby league games since opening.
At the time of the judgment, Everton said it had “appealed the decision and is clear in its belief the ruling is fundamentally flawed in both law and fact”.
“The club does not recognise the findings of the panel in determining Burnley’s relegation from the Premier League in May 2022 was caused by a sporting advantage gained by Everton due to a breach of Profit and Sustainability Rules,” they added, “for which a substantive sporting sanction has already been received.”
Everton have been approached for comment.