Everton have sold their women’s team to a parent company in order to generate profit of tens of millions of pounds that can be used in the transfer market while remaining compliant with PSR. Clubs like Chelsea and Aston Villa also executed similar moves recently.
The assets of Everton Football Club Women Ltd have been transferred to a company called Roundhouse Capital Holdings, which is actually overseen by Everton’s American owner, Dan Friedkin.
This is the same company that The Friedkin Group used to buy Everton during the takeover last December.
According to a report in The Times, the profit from the sale could be £60million, which can be used to sign players that the men’s team desperately needs. So far, the Blues have only managed to sign two players – Thierno Barry and Mark Travers – and manager David Moyes is expecting at least “five to six more players” before the transfer window closes.
Sources from the club also say that the women’s team, who are set to play at the iconic Goodison Park this season, is a standalone entity capable of attracting its own investment. The on-paper profit will help the club achieve PSR compliance after they saw six points deducted for a PSR breach in he 2021-22 season and two points for a breach in 2022-23.
The Toffees are the third Premier League team to utilise a law that allows the club to sell assets like the women’s team to related companies and register the transaction as profit for PSR calculations.
Chelsea and Aston Villa have executed similar moves recently, but they were found to have been guilty of breaching UEFA’s financial rules, as the European body does not permit such practices.