Great article Dougal. It shows the immense figures involved in the PL nowadays. A well ran finacially successful club wouldnt get to the stage where the opportunity for fan ownership would arise. Only one like ours, where the debt was crippling, and the business man owner badly needed out, would be in a position for a fan buyout. As you have shown, the cost for fans is prohibitive.

I think the article shows how sentiment will only get you so far in football. I've mentioned in a previous article that even a wealthy fan turned business man turned owner, such as Jack walker, could no longer operate in today's footballing world. To continually have to pump thousands of your hard earned pounds into your club is not sustainable for your average fan.

Also, while fan group based owners would care about the club dearly, I wonder if it would also deeply divide the fan base. Would groups be constantly be arguing over the direction the club should go in?

I am most certainly a massive advocate of the Germam model of ownership, which is part supporter, part shareholder-owned giving supporters that all-important voice into how the club is run.

They also implement a much fairer system of governance I'm in my opinion. The 51-49 ownership model also prevents one individual, often with an 80% stake, from exercising complete authoritarian, almost dictator-style control over the running of the club.

That said, there are clear and obvious benefits of the current Premier League framework.

What is particularly important is we are finally being run as a stable business. Long overdue after the Bill Kenwright pantomime years.

To me, this is a much better model for football generally than the Premier League approach of oligarchs, sovereign nations etc for reputation washing and possibly money laundering and sanctions avoidance - and global corporations like, I guess, TFG.

The Premier League is also a disgusting rip off of fans and to be honest not a great spectacle despite the hype. It only gets hyped up as the best to maintain the illusion it’s worth the money. There are so many boring matches in the Prem - and they try to offset this by skewing the rules (and let’s be honest the refereeing) so that the rich clubs who generate most money with global tv audiences get to win. Everyone else is there to make up the numbers.

German club football is exciting and high quality and much better value. Although there’s obviously a big issue that Bayern are way, way too dominant.

But unless everyone is required to do it it’s a non starter.

Great piece, Dougal,you’ve nailed the real obstacles. The £304m hurdle, the striker cash calls, the Bayern monopoly argument – all fair points.

But I think you’ve overlooked a middle ground that isn’t pure 50+1 or pure billionaire rule.

Look at Brentford. They don’t have fan ownership, but they do have formal fan governance – an elected rep on the board and a proper advisory group with real influence on culture, legacy, pricing, and strategy.It would improve fan connection. Crucially, the owner still writes the cheques and takes the financial risk.

That gives us the best of both worlds: TFG’s money plus a genuine seat at the table, without asking thousands of Blues to stump up six grand each. You said you’d stick with billionaires who might come good, so would I, provided they’re brave enough to share power, not just host Q&As. That’s the Evertonian compromise I’d back.

Some great observations, gentlemen - thank you. Proof, were it needed, of the complexity of the issues at play.

The point about fan cohesion with regards to strategy is a good one. Instinct says it would be an unhappy co-existence. And with 11 Prem clubs now American-owned, I fear that this year's World Cup may embolden them to really push the boundaries with regards to seat pricing. We all said it wouldn't work, yet the stadiums have been full. One to watch.

Jerome: your middle ground is very appealing, but with possession being nine tenths of the law we're entirely dependent upon an enlightened ownership on that one. After the risks they've taken and the major internal leadership changes (still on-going), would they be prepared to cede a measure of control? We shall see.

Yesterday's release of the Premier League's financial performance for 2024/25 showed the continuing appeal of our great game - but then revealed the financial imbalance our club (and others) struggle to challenge. Commercial income grew 13%, but the Big Six accounted for almost three-quarters of that growth. We must hope that the genuinely smart commercial brains within TFG succeed in righting that imbalance.

Unfortunately you are right Dougal, but in the New Cognitive Economy the new managerial class governs through procedure; football supporters exercise influence through legitimacy.

Owners may control the assets and executives run the business, but a club's identity belongs to the people who've sustained it across generations. That's why the Evertonian legacy is a power in itself.

Fan power isn't about owning the club—it's about providing the legitimacy that no balance sheet, consultant or boardroom can manufacture.They must be engaged with, not just threated as Customer. They are Consumers, with skin in the game, and have rights to be engaged with in a meaningful way.Never ignored, which is a problem that TFG will have no choice but to deal with.They have already found that out at Roma.

After the recent article in The Athletic about European football finances, there was a lengthy comment which included the following observation. Be interested to hear if it resonates with anyone more familiar with the Bundesliga model:

“The German system is designed in such a way that it is almost impossible for the most popular team not to win every year, due to the commercial model of Bundesliga economics to be built around fan experience.

“The end result is a sole team winning 13 of the last 14 championships, with no real rival, buying the best players in the league every year and removing the main season long drama of the competition. Ask any German football fan, and they are most likely OK with this, either because they are a Bayern fan (very high probability of this) or because they accept and price into their thinking the consequences of this model.

“In some way, it makes sense the team with the most fans should win every year. This is a complete deal breaker with English fans. English fans moan more, complain about their boards more, have more legal cases, boo more and protest more, but ultimately, they have a proper football product.”

Lyndon, if ever there was a case for "the grass is always greener.." then I think you get the award. Each long for a better model, each see only the benefits of the other, each perceive the short falls of there own.

So where does it leave us?

Well, I think we are way too far along the capitalistic American investment model to see any meaningful change. Big money investment means greater profile, sorry great money generated, buying the best, huge cash flow. (What about the football, the fans??) Alas the matchgoing fans are always secondary in the PL model, the riches are found in tv rights across the world. If England actually win the WC then it's a huge boon to the Premier league as players will line up to be part of it.

In short it's not going to change soon. We'll not until it either goes bang or something better somewhere else becomes the next big thing.

It is a interesting article and comments.I wonder how the German model of fan ownership comes about.

Evertonians and other Fans are about providing the legitimacy that no balance sheet, consultant or boardroom can manufacture.

This value cannot be under estimated.FAB was originally set up at Everton in response the Fan lead review and imo to highjack the protest agenda that grew at that time, which did backfire on the Board, because of it's Chairman Jaz, who turned out to be very useful.But since he left has largely been used for press release type of official information and TFG snippets.There is a definite communication gap between TFG and Fans

You would have thought TFG would have learnt from their Roma Experience.

A genuine question for everyone. Say there is proper year on year progress at Everton under the Friedkin Group. And in five years time we're wheree Villa are now. Five years later, we're a regular top six, with the profile, media attention, narrative and cash rhat goes with it. We'll have the protection of the PL, they'll bend the rules in our favour, and Everton fans are happy with their lit.

What then? Will we still want fan based ownership? Will we still want a seat on the board? Greater say in how the club is run?

My answer if you ask.me would be a resounding no. I'm sick and tired of being a miserable Evertonian. God knows, I've complained enough on here.

Ask Man City fans old enough to remember their club in League one. 115 charges or not, allegations of sports washing or not, allegations of buying your way to success or not. I doubt that many of their fans have walked away.

If we could just swap the silent friedkin’s, for the owners of Manchester City, then most if us would be happy Kieran.

Kieran # 11, I'd be very disappointed if we haven't made the Champions League within 5 years from now. There's every opportunity to do so. As long as the squad is assembled with a view to peaking in, say, 3 to 5 years then we should be very well placed. The thing that will hold us back is buying players now who will be deteriorating fast in 3 years' time. We're not going to get into the Champions League next season (with or without Moyes) so let's build a proper future.

If there's an option this summer to buy 28 year old Wan-Bissaka (£120k pw) on a 5 year deal or 21 year old Rico Lewis ((£25k pw) then it's a no brainer if you want us to get into the Champions League any time soon - go for the younger man with the lower wages. Otherwise you just condemn yourself to mediocrity not just this coming season - but for the next 5 years.

Tony # 12, I am not remotely fussed that the Friedkins keep quiet about their business. Most vocal owners talk utter rubbish (Moshiri certainly did). However, it would be more respectful to the fans if they at least showed up. That said, if we could have City's financial clout I wouldn't say no.

Dougal, thank you for providing the reality check.

I have always been an admirer of the 50+1 Rule in Germany: look at Dortmund, 60 thousand + gracing their stadium every other weekend, playing in Champions League every year and an astute Front Office that proves "Clubs have to be loss-making to be competitive" as nothing but a lie. How much they paid for a young Haaland and Jude Bellingham, then maximised their time with the club before selling them for healthy profits that replenished the club's coffer: what they have done over the past 20 years have been Textbook materials (Schalke fans nodded their heads grimly in contrast). And they are repeating the trick with Jobe Bellingham!

If we can copy what Dortmund did consistently, then hope for lightning striking once in a fortnight (like what Red Shite Alonso did with Leverkusen's undefeated season), we might just be able to relive our 1980s days.

FYI, TFG is spending USD 3 Billion (GBP 2.2 Billion eq.) to buy an Expansion Team and join the NHL (National Hockey League, one of the 4 Major League Sports in North America) that will be based somewhere in Texas (either Houston or Austin). They certainly have lined up their list of bankers for the financing, but it will be interesting to see how that might affect the operations of Everton and Roma in the next 3 years.

Kieran#11

By then we will have them knocked into shape.They will have learnt not to fear us.

DuPont that is exactly right. There is a model to follow already in existence.

It is not become the new Brighton (become a player trading facility but achieve nothing).

It is become the new Dortmund or Leverkusen - which our size and stature and wealth will enable us to do.

It means the big club version of what Brighton do transplanted to the Premier League. Consistent competitive seasons - cup trophies - champions league runs and when the squad peaks and a manager is there to extract that something extra we’ll compete for the title.

They sell players - but they have a model to build it back up again and be ready to go again in two or three seasons.

Interestingly it’s kind of what the RS were doing successfully until they changed tack and spent nearly £500m last summer - only to find they still had a patchy squad, over reliance on aging players and no British core to carry them.

Robert#16

That is the only suitable model.Regarding RS it worked for one season with one change under Slot. But having not renewed in his first transfer window and then thinking he could buy experienced professional in his second he floundered.The signs where always there, even when they where Champions by default.Everton are heading in the right direction , but need a different Manager.Slot fell 4 places,Moyes fell 8.

A couple of points in the German 50 + 1 model.

By paying an annual fee (typically between €30 and €60), fans become voting members who elect the club's president and board of directors. It is estimated that Everton have 400-500,00 fans globally who might want to register for voting rights.

To raise capital for specific projects (such as stadium expansions or new training facilities), clubs frequently issue interest-bearing bonds directly to their supporter base. This allows fans to act as both lenders and owners, borrowing funds at cheap interest rates without losing majority control.