Latest news with #FarhadMoshiri
Telegraph
02-07-2025
- Business
- Telegraph
Inside Everton's mass exodus as new owners look to clean up Moshiri's mess
When Everton's outgoing director of football, Kevin Thelwell, left at the end of last season, one wonders if he was tempted to leave behind a pithy note for the revamped executive team. 'Sorry there are no players left. Best of luck xx' David Moyes' squad return to training this Friday and the coach might struggle to organise an internal match, the Finch Farm dressing room doubling up as a departure lounge. In all, 15 players were out of contract on July 1. Exciting South American Carlos Alcaraz was signed on a permanent deal and veteran club captain Seamus Coleman was retained. Both Idrissa Gana Gueye and Michael Keane are understood to be close to agreeing new contracts, too. There is also a possibility Jack Harrison will return after successive loan spells. The rest constitute an exodus. Dominic Calvert-Lewin, Abdoulaye Doucoure, Ashley Young, Jesper Lindstrom, Armando Broja, Orel Mangala and back-up goalkeepers Asmir Begovic and Joao Virginia moved on. Individually, none are irreplaceable. Indeed, departures such as the already exiled striker Neal Maupay prompted sighs of relief more than anxiety. But as a collective, Moyes has a chasm to fill to ensure his squad is competitive. This is the remaining debris of Farhad Moshiri's legacy in need of cleaning up. The former owner recently broke his silence to assume credit for the £750 million Hill Dickinson Stadium which represents Everton's future. He can accept due applause for that. It should not disguise the challenge the new owners Friedkin Group (TFG) face ensuring a squad of 18 first team players will be available to play in the first Premier League home game against Brighton and Hove Albion on Aug 23. The contract situation is the consequence of years of scratching around trying to cobble a squad together, Everton maximising loan deals while paying the price for the profit and sustainability breaches of the more reckless Moshiri spending era. The problems were being pushed along the road for a later date, and now the calendar is eating up the days as the club endeavours to find enough players. 'I'm going to keep you busy this summer' The start of July was always going to bring more clarity, particularly with those who were pondering their future having been offered reduced terms - most notably Calvert-Lewin. His departure, alongside Broja's return to Chelsea, means Everton need two strikers. They also want a full back, central midfielders, wingers and at least one back-up goalkeeper. 'I'm going to keep you busy this summer,' Moyes said in the final press conference of the season, forewarning of transfer activity. Tellingly, he said this with a smile and spring in his step. Despite the work ahead, no-one at Everton is fretting yet, seeing this summer as an opportunity rather than a personnel nightmare. Internally and among the fanbase, the club has not felt so upbeat for years, the expectation being short-term difficulties will precede the longer-term stability and eventual success which eluded Moshiri. Everton are starting again under a new regime, the refresh which began with Moyes' return midway through last season gathering pace with what was described as a series of 'leadership appointments' overseen by new chief executive Angus Kinnear. Thankfully, TFG's takeover ensured Kinnear did not join a sinking ship. He still has to navigate the choppiest of waters before reaching dry land, but the strategic changes are a notable direction shift. Rather than find a like-for-like replacement for Thelwell (who has since joined Rangers), Everton have created a football unit, headhunting Technical director Nick Cox from Manchester United's academy, and Director of Scouting and Recruitment James Smith from the City Group. Chris Howarth was also appointed to direct the club's football strategy and analytics operations, while Nick Hammond is leading the club's player trading activity. For however long they are at Everton, they will never have a busier, more complicated period than their early months. Moyes had already tentatively begun working on targets towards the end of last season. Critically, there is a transfer budget available as the previous regime's PSR woes were dealt with. But Moyes and the recruiters must weigh up the merits of spending big on a couple of game-changers or spreading out the resources on those who will add to the numbers, but not necessarily transform the club's ambitions beyond Premier League preservation. Moyes is inclined to think bigger, eager to buy proven talent at a price before exploring the loan and bargain market again to swell the numbers. But as he discovered when missing out on Liam Delap to Chelsea, securing coveted targets is nigh on impossible when Champions League clubs are rivals for the signature. Even a move for Fulham's Kenny Tete was frustrated as he chose to stay in London. The core of the team which was unrecognisable in form and resilience to that which stumbled into another relegation fight under Sean Dyche remains intact; Jordan Pickford, James Tarkowski, Iliman Ndiaye, James Garner, Jake O'Brien and Dwight McNeil are the foundation of a competitive line-up. And then there is the first truly symbolic move of the summer as Jarrad Branthwaite signed a new five year contract on Wednesday morning, Everton in a stronger position to resist moves for prime assets. 'We believe he can have a huge role to play in an exciting new era at the football club,' said Moyes. Keeping Branthwaite was a necessary and reassuring statement of intent. More will be needed over the next six weeks. The 2024/25 campaign was the season of goodbye at Everton; to coaches, players, executives, owners and even the beloved stadium. Now they need this to be the summer of hello.
Yahoo
01-07-2025
- Business
- Yahoo
Everton transfer ambitions transformed as club today enters new era after PSR change
Everton are now in a new era of financial freedom. Today marks the beginning of a new year in terms of the Premier League's spending regulations - rules the Blues have twice fallen foul of. And with it the worst of the excess that characterised the Farhad Moshiri regime will disappear from official calculations, allowing the club to be more ambitious in the transfer market. Advertisement Top flight clubs are allowed to lose £105m over a three-year period under the league's Profitability and Sustainability Regulations (PSR), after some permitted expenses are taken into account. Failure to comply can lead to points deductions, as Everton found out when league chiefs pursued the club through two landmark cases that pushed the club to brink. READ MORE: Michael Keane transfer latest as Everton contract talks continue READ MORE: What the ECHO knows about Idrissa Gueye, Thierno Barry and Kenny Tete as Everton step up transfer plans The deductions, for consecutive breaches, did not derail Everton's efforts to avoid a catastrophic relegation but the PSR struggles have cast a long shadow over the business conducted by the club in recent seasons. Advertisement Not only were concerns over the club's position behind the sales of key players like Richarlison, Anthony Gordon and Alex Iwobi, they also led to the gutting of the academy of some of its brightest talent. When it came to incomings, the focus of recent summers has been on loan deals, free agents and, when money has been spent, on deals that have allowed the club to stagger payments over time. The need to operate with such caution is the main reason behind the threadbare nature of the squad that David Moyes enters July with. A lack of funds and a desire to drive down the wage bill has led to players being allowed to leave and the postponement of new contract talks. Advertisement The net spend of Everton under now-departed director of football Kevin Thelwell was £120m lower than any other club that was ever-present in the Premier League during his stint on Merseyside. Despite that, most recently the legacy of the first summer he oversaw - one in which the club had to rebuild after surviving on the penultimate game of the season - has been the one that proved troublesome. The spending of summer 2022 led to Everton accruing £62.7m of PSR losses - leaving little room for a transfer spree across the seasons that followed. The losses of that year will fall out of the calculation period for the three-year cycle that will be judged from July 1, opening up substantial regulatory leeway for Moyes to address his squad issues . Advertisement The positive news extends further given that the new financial year will be the first in which Everton will benefit from the increased commercial and matchday revenue driven by the move to the Hill Dickinson Stadium.
BBC News
21-06-2025
- Business
- BBC News
£200m written off - lessons Everton must learn in pivotal summer
On 11 January, David Moyes was appointed Everton manager for a second spell following the sacking of Sean Dyche, with the club one point above the relegation zone. They ended the campaign in 13th place, 23 points clear of the bottom recent years of points deductions and relegation battles, there is hope that the return of Moyes, new owners and the move to a new 52,888-seater stadium can lead to a brighter future for the Toffees. With the feeling of a fresh new start across all aspects of the club, BBC Sport looks at the lessons that must be learned this summer as they prepare to begin life at Bramley-Moore Dock. £200m worth of signings leave for free Everton are currently navigating their first summer transfer window under the ownership of the Friedkin Group, who bought the club for in excess of £400m in finance expert Kieran Maguire estimates that Everton will have between £50m-100m to spend in this summer transfer window – a dramatic increase in contrast to the past four seasons when the club has essentially spent nothing, totalling £85.5m of profit from player trading. Such frugality has been a consequence of reckless financial planning that led to Profit and Sustainability Regulation (PSR) breaches, two points deductions and narrow escapes from must now learn from past mistakes in terms of getting value for near nine-year ownership of Farhad Moshiri, who bought a majority shareholding in 2016, was marred by a scattergun transfer policy and merry-go-round of seven permanent managers which saw Everton splurge money on inflated fees and huge Doucoure's decision to reject a new deal in May means that eight players signed for at least £20m during Moshiri's reign have now left for nothing, effectively writing off £188m in transfer fees. Should out-of-contract defender Michael Keane, signed from Burnley for an initial £25m in 2017, also depart this summer, that figure will climb well past £ Everton midfielder Leon Osman believes it's something that "must improve" going forward. "It's not ideal when you're paying for a player and getting no return," he said. "It's been a difficult 10 years with regards to bringing players in and moving them on for a profit, but that's an awful lot of money to spend on players to see them walk away." £25m for two Premier League starts Of the big money signings who left for nothing, midfielder Doucoure was arguably the best value, making 149 Premier League appearances and scoring the goal that ensured Everton's Premier League survival in other end of this particular spectrum is more congested, including the injury-plagued Jean-Philippe Gbamin, who made just two league starts after joining from Mainz for £25m before leaving for the French second tier four years Bolasie, who cost £25m from Crystal Palace, scored two Premier League goals before being loaned out four times and then leaving for Tosun scored five goals in 14 games after joining for £27m but then made 14 starts in the subsequent four seasons as he was loaned out to Palace and theme is clear: when Everton have had larger sums of money available, they have often spent it poorly, a failing that cannot be repeated if the Toffees are to build towards the European football that Moyes has said he craves. A dozen set to depart There have been transfer successes since the more chaotic days of Moshiri's ownership. Jake O'Brien and Iliman Ndiaye, both signed last summer for initial fees of under £17m, have been prudent investments – although both purchases had to be funded by the £50m sale of Belgium international Amadou Onana to Aston ability to recruit effectively, and Moyes' savviness in the transfer market, will be tested by the necessity to overhaul an entire squad, with 12 players, including 10 from the first team, out of contract this Seamus Coleman and midfielder Idrissa Gueye are in negotiations to extend their current deals, although striker Dominic Calvert-Lewin could yet leave the club, along with Young and Doucoure have already confirmed their departures, along with back-up goalkeepers Asmir Begovic and Joao Virginia, while loanees Jack Harrison, Jesper Lindstrom, Orel Mangala and Armando Broja have returned to their parent confirmed the permanent signing of Carlos Alcaraz for £12.5m in May but major gaps still exist in terms of goals, creativity and who made 437 appearances for the club between 2003 and 2016, believes that the exodus provides an opportunity for a "fresh start". "This is where we build from," said the 44-year-old. "Everton have had so many managers over the years and so many different styles of player who play different systems. David Moyes knows what Everton are." 'A demanding dressing room' Patience may be required for any rebuild as the Friedkin Group continues to navigate the implications of PSR. The club's most recent accounts for 2023-24, external show a loss of £53.2m, a reduction of £36m on the previous year, while revenue rose by 9% to £187m – an encouraging picture although one that means that money must still be spent wisely. Osman, who was given his Everton debut by Moyes in 2003, believes that Everton must retain key players such as Jarrad Branthwaite, James Tarkowski and Jordan Pickford, while recruiting more leaders to bolster a rapidly thinning squad."A Moyes dressing room is hard, demanding," he said. "Having spoke to a couple of the squad, they love the clarity and what he's asking of them. "A manager has to ask for that level and he always did that when I played for him. You also look at O'Brien, who has excelled at right-back when people thought he couldn't do it. We need to make sure these people stay on the pitch."The failed pursuit of new Chelsea striker Liam Delap, who was spoken to by Moyes, shows that centre-forward - and more goals in the team - is a priority, along with a right-back, right-winger and central midfielder. Departures, though, mean that recruitment is needed in almost every position to provide squad club are reportedly interested, external in Villareal striker Thierno Barry, who is currently playing for France in the European Under-21 have taken steps to streamline their process, moving away from a director-of-football model following the departure of Kevin Thelwell to a sports leadership team headed by new chief executive Angus has said that Everton will utilise experts in data and analytics, football operations, recruitment, talent ID and player trading as part of the club's evolving has also already met with supporters group the Fan Advisory Board – a far removal from the previous regime when former manager Dyche described communicating with then-owner Moshiri by "Whatsapp and the odd phone call". Osman has backed the new structure to succeed and added: "It's time to get behind the new hierarchy and I expect they would lean into Moyes' experience as much as they can. I trust David Moyes more than anyone."
CNA
18-05-2025
- Business
- CNA
This art collector went from running his own marketing firm to opening galleries in Hong Kong and London
Hong Kong native Calvin Hui always had a keen appreciation for visual arts, especially abstract art. What started as a hobby buying and collecting art that resonated with him, has turned into a lifelong passion. In 2011, he opened 3812 Gallery in Hong Kong, which specialises in Chinese contemporary art, particularly ink works. A few years later in 2018, he and his co-founder opened a gallery in London's Mayfair, which will be relocating to The Whiteley London this Summer. Hui reflected on his early days buying art: 'The first art piece I bought was a print lithograph by Juan Miro when I was a student. I collected 20th-century modern art, with the small amounts of money I earned from part-time jobs as a student. It has always been my passion.' When he set out to decorate his new home 20 years ago, Hui was on a quest to find and acquire more art. 'In addition to the decorative pieces I've collected earlier, I consider the first 'serious' work I bought to be Jar with Horizontal Colour Bars (2005), by an Iranian artist Farhad Moshiri. It is a large piece, measuring 2 sq m. To be honest, I didn't do much research. It fit my budget and matched my home interiors perfectly. That marked the beginning of my journey as a serious collector.' After his first acquisition, Hui continued to expand his knowledge about art by reading, going to exhibitions, and museums and subsequently attending fairs, thus growing his collection. As Hui's collection grew, unexpectedly, he received a message from a gallery about one of the artists whose work he had purchased; the value of that artist's pieces had skyrocketed at auction. This experience deepened his interest in learning more about art and collecting. Before opening his gallery in 2011, Hui ran his own public relations, events, and marketing company. As his collection grew, he saw an opportunity to showcase the artists' works in a gallery setting. Hui attributes his gallery success to his skillsets as a communications graduate. 'It was a natural progression transitioning from a PR, events and marketing professional to an art business as a gallery owner, curator, dealer and collector,' he said. 'My skills and experience have been incredibly beneficial to my art business; the storytelling, introducing artists and connecting with people came naturally to me.' His foray into the auction market was an organic process that unfolded over several years. He became more involved in the art market beyond just collecting. He described the art scene in Hong Kong during his time as a collector, before opening his gallery in 2011: 'It was all very organic. There were no art fairs, no Art Basel, and no established gallery districts in Hong Kong. I had the opportunity to meet with art institutions, get to know the community, and eventually began writing about art collections.' Hui finds immense joy in art collecting, viewing it as a deeply personal journey enriched by the memories associated with each piece. 'Every work I add to my collection — from travels or when enhancing my office or gallery — carries specific moments tied to the people I'm with and the places I've been,' he reflected. As Hui expanded his personal collection, he delved deeper into the art industry, educating himself about the market and discovering that art can serve as both an asset and an investment. Yet, his passion and joy for collecting transcends monetary value. 'Personally, when you purchase and collect art, when you live with art and appreciate its aesthetics daily, that's what truly holds value for me. If its price appreciates, that's just a bonus.' A particularly cherished part of his collection features works by the late artist Hsiao Chin, who was not only a master of modern art but also a personal friend. 'His ability to blend Chinese culture and Eastern spirit with modern abstract art resonates with me. Hsiao Chin created distinctive and meaningful pieces throughout his lifetime.' Hui has two hats on when collecting, one for his passion and the other for the gallery. He is always on the lookout for emerging artists, to support them, providing a platform to showcase their talents. 'I'm proud to feature several young artists in our portfolio. I assess their talent, commitment, and professional attitude, all while envisioning their long-term development. My goal is to guide these young talents as they navigate their artistic careers.' The works of self-taught Hong Kong artist Thomas Ngan have piqued Hui's interest. There are plenty of choices in the market and Hui does his due diligence. 'Once I collect, I will commit to following the artist's journey. Visiting exhibitions and art fairs is integral to discovering new talents. I can be quite impulsive, but I usually do my homework before purchasing. I keep my passion for collecting art for my personal collection and at the same time, I want to see how each artist develops their art and the unique artistic ideas and concepts they are trying to convey. Aesthetic quality, craftmanship and techniques are very important.' Hui's collection mainly features paintings — ink and Western, most of them focused on Chinese contemporary modern art, along with a selection of European works. Hui believes the rule of collecting is, 'leading by the heart first and foremost. Whatever is visually captivating and speaks to you. You need to like it and connect to the artwork, it should bring you joy looking at it, rather than seeing it purely for investment. Art is unique. It's not just a commodity. The best case scenario is that you appreciate it and see it as a long-term investment, instead of a short-term trade.' Hui's advice on how to start collecting is to start with a budget and define preferences — themes, and mediums. 'Affordable art fairs are a good place to start, define what you like and then go in search of it. Today with social media and the internet you can find plenty of information, but I recommend going physically to the museums, and art fairs and talking to people to help you understand what you like, and it might also help you learn about market trends.' View this post on Instagram A post shared by 3812 Gallery (@3812gallery) Besides his ongoing quest to expand his personal collection, Hui is curating Light of Hope – Hsiao Chin 90th anniversary retrospective exhibition of the late artist Hsiao Chin at the Guangdong Museum of Art in Guangzhou that runs from now till Aug 17, 2025. This showcase celebrates the prolific works of Hsiao Chin, one of the pioneers of post-war abstract art, featuring pieces that date back to the 1950s. Simultaneously, he is preparing for the opening show at his new London gallery at The Whiteley, highlighting the Paris-based Chinese artist Ma Desheng. Having collected Ma's work for 20 years, Hui has developed a close friendship with the artist and now represents him in both Hong Kong and London. The behaviour of collecting can quickly become addictive regardless of the items one collects. 'It's the thrill of treasure hunting, reading stories about the pieces – it's all part of the pleasure of collecting,' he said. 'When I find something I really like and have faith in the artist, I find myself diving deeper into the fulfilling journey of learning and acquiring their works.'
Telegraph
16-05-2025
- Business
- Telegraph
‘Worst stadium name in the world': Everton mocked over £10m-a-year deal
Everton have announced their new £750 million arena on Liverpool's docks will be christened the Hill Dickinson Stadium. The sponsorship deal with the international commercial law firm, understood to be worth around £10m-a-year, is claimed to be one of the largest stadium naming rights agreements in Europe. Although the club have not confirmed the duration of the contract, it is believed to be comparable to the recent £100m, ten-year deal which the RFU and Twickenham signed with Allianz. However, the new name has not gone down well with fans on social media. One fan wrote: 'I absolutely hate this. Will we always call it Bramley Moore? Probably. Is it a great commercial deal? Apparently. But for me, this is one of those things that matter more than an extra couple of million in the bank.' Another said: 'Genuinely this might be the worst name for a football stadium, ever.' And a weary supporter added: 'There simply is no end to the nightmare experience that is being an Everton fan.' As the Everton men's team prepares to leave Goodison Park this weekend, a naming rights deal for the new stadium has been on the agenda for years. Current owners, the Friedkin Group, made it a priority since completing their purchase of Everton earlier this season. When construction at Bramley-Moore dock began, it was initially expected it would be called the USM Stadium because of the business partnership between former majority shareholder Farhad Moshiri and Alisher Usmanov. Usmanov controversially paid £30 million for the 'first option' to sponsor the new arena. However, the Russian invasion of Ukraine and subsequent sanctions against Russian businesses working in the UK meant Everton had to rethink. Evertonians leaving Goodison after the last league game this weekend may find it a readjustment to refer to the Hill Dickinson Stadium after a week of romancing about their current home. Founded in 1810, Hill Dickinson is a commercial law firm spanning 11 offices across the UK, Europe and Asia. Well established in the city of Liverpool, the company has expressed its determination to expand its global reach.
