'Hundreds of millions' - Kieran Maguire issues verdict on new Everton CEO post Friedkin takeover

Everton hiring a chief executive once the takeover is completed will be the most important thing, according to Kieran Maguire.

The football finance expert claims that having people with experience in the sport will certainly be beneficial for the Friedkin Group.

He cited examples of Elis Short and Randy Lerner’s struggles at Sunderland and Aston Villa respectively, with both losing their clubs hundreds of millions.

Maguire told TBR (14 October): “Dan Friedkin will be keen to make the right decisions as quickly as possible if his plan to take over succeeds.

“Having people with experience in the industry on the board will be significantly beneficial.

“You only have to look at clubs who have had American owners come in and presume that their knowledge of US franchise sport is sufficient to be successful in football only to have their fingers burnt.

“If you take a look at Ellis Short at Sunderland and Randy Lerner at Aston Villa, they both lost hundreds of millions.

“Friedkin will want to make sure he appoints the right people. I think the most important thing will be appointing a chief executive who understands football, the club, and the finances.”

Everton need a world-class chief executive to take them to the next level

The Toffees’ change in ownership under the Friedkin Group underscores the critical need for appointing a CEO who is well-versed in football’s unique landscape.

For Everton, installing a chief executive with a deep understanding of football operations, fan culture and financial management is essential.

This person must navigate the club through the Premier League’s competitive environment, manage transfer markets effectively and engage with the passionate fanbase – something Farhad Moshiri neglected which has seen such a huge gulf between the supporters and the club.

The right appointment could steer the club towards stability and success, leveraging the Friedkin Group’s resources wisely.

Conversely, a misstep in this crucial role could lead to financial distress and sporting failure, as seen with past owners.

Maguire is absolutely spot in and this appointment could potentially make or break the Friedkin era at the Blues.

In other Everton news, a £200million update has emerged as the club have held talks with Qatar Airways.

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