Outgoing Everton owner Farhad Moshiri acknowledged he wonders what might have been for the Toffees, had Carlo Ancelotti remained at Goodison Park.

The Freidkin Group completed their takeover of Everton on Thursday, bringing Moshiri's eight-year reign to an end.

It proved an eventful period on and off the pitch under the British-Iranian, with the club involved in Premier League relegation battles, points deductions, as well as financial uncertainty and a collapse at boardroom level.

Moshiri has also worked with eight permanent Toffees manager, including Ancelotti between December 2019 and June 2021.

The Italian guided the club to a 10th-place Premier League finish during his sole full season at Goodison Park, before returning to Real Madrid for a second spell.

Reflecting on his tenure with "mixed emotions", Moshiri suggested Everton could have kicked on had Ancelotti stayed in charge.

"I fully understand that, in football, results on the pitch are paramount and, over those same years, they frankly haven't been good enough," Moshiri wrote in an open letter to supporters.

"We brought top-class managers like Carlo Ancelotti to the club, and who knows where we might have been had he not been lured back to his first love, Real Madrid?

"When I purchased the club eight years ago, I knew it needed to be modernised, both with a new stadium and also at the training ground, which has seen much investment.

"I have met the huge costs of those improvements through my ownership, with season ticket prices remaining pretty well the same across my ownership period.

"I have tried to minimise the impact on fans with our tickets among the most affordable in the Premier League."

Meanwhile, following the takeover, the Everton Fan Advisory Board (FAB) said the club can "look forward with hope and optimism".

"Our recent history has been clouded by relegation battles, financial uncertainty, failed ownership bids, a leadership vacuum and unjust sporting sanctions.

"[Thursday's] announcement provides the opportunity for Evertonians to, once again, look forward with hope and optimism.

"Providing clarity and communicating about the road ahead will be essential. We recognise that change will not come overnight.

"We look forward to hearing more about their plans in the coming weeks and months and working alongside them to help achieve their aims of embracing the passion, creativity and values of Evertonians."