The billion-pound headline is not a slogan. It is a set of assets.

That is the case laid out by the financial analyst Stefan Borson in an interview with Football Insider. His starting point is what a buyer would actually be paying for, and the spine of the answer is the new stadium at Bramley-Moore Dock. Borson framed a £1bn ticket as buying “one of the most historic clubs in the country” together with a brand new ground and, in his phrase, “limited liabilities from a contractual perspective.”

The 52,769-seat Hill Dickinson Stadium at Bramley-Moore Dock hosted its first Premier League fixture on 24 August 2025, ending 133 years at Goodison Park. It is a matchday revenue engine of a different order from the old ground, and, crucially for a buyer, it is already built and sits inside the ownership vehicle.

A book without legacy contracts

Borson’s second argument is about what a buyer would not inherit. Everton spent years cutting wages and shedding long deals under profit-and-sustainability pressure, and that clean-up now works in the seller’s favour. In the same Football Insider interview he pointed out that a buyer would not be walking into somebody else’s roster of oversized long-term contracts, calling the club attractive as an institution ready to move to its next phase.

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The Friedkin Group completed its takeover on 19 December 2024, buying Farhad Moshiri’s 94.1% shareholding as part of a 98.8% Premier League-confirmed stake. British media put the headline figure at north of £400m. A £1bn crystallisation would roughly double that investment inside two years, a return Borson has separately estimated in earlier comments to Football Insider as an enterprise value giving the owners “probably around double what they paid.”

The macro caveat

Borson does not pretend the money is sitting on the table. His own framing is conditional.

“The economy and the interest rates are not really in the right place of this but generally, it is possible that they could get up to a billion of headline valuation,” he told Football Insider.

That £1bn is a projected enterprise value, not a signed cheque. Any figure would depend on financing conditions, appetite from US-based investors, and how a buyer prices in the fallout from a bruising summer transfer window.

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What is actually on the table right now

The concrete move, for now, is smaller than an outright sale. The Financial Times reported on 3 September 2026 that TFG is working with advisers on a stake-sale process for Everton, described as early-stage and centred on a significant minority stake rather than a full change of control. Christopher Sarofim and Jason Kidd already took equity in Roundhouse Capital Holdings, the vehicle that owns 99.5% of the club, during 2025.

Dan Friedkin, who also owns Roma, has not indicated an intention to sell outright. Neither TFG nor Everton has commented on the reported investor search.

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