The Friedkin Group has finalised its acquisition of Everton, marking the end of Farhad Moshiri’s tumultuous ownership.
The deal, valued at over £400 million for 99.5% of the club, makes Everton the 10th Premier League team to come under majority American ownership.
The group reached an agreement with Moshiri on September 23 and had been awaiting regulatory approval, with the Premier League having the final say, which has now been granted.
Led by chairman Dan Friedkin, the Texas-based group also owns Italian Serie A club Roma. Friedkin’s net worth is estimated at £6.16 billion, according to Forbes.
Friedkin is set to be appointed as chairman of Everton’s board, while Marc Watts, president of the Friedkin Group, will take on the role of executive chairman and oversee the club’s management.
Friedkin said in an open letter: “I take immense pride in welcoming one of England’s most historic football clubs to our global family, the Friedkin Group. Everton represents a proud legacy, and we are honoured to become custodians of this great institution.
“Whilst we are new to the club, we fully understand the vital role Everton plays in local culture, history, and the lives of Evertonians here and around the world.
“We are deeply committed to honouring this legacy while contributing positively to the community, economy, and people of this remarkable city.”
Moshiri, a British-Iranian investor, initially purchased a 49.9% interest in Everton in 2016, increasing his ownership to 94.1% in 2022.
Everton, who have not played outside the top division since 1953-54, has finished in the Premier League’s bottom half for the past three seasons – 16th, 17th, and 15th – and is currently 16th.
Sean Dyche’s team play second-placed Chelsea at Goodison Park on Sunday (14:00 GMT) and representatives of the Friedkin Group are expected to be at the game.
What are the details of the deal?
Everton has been acquired by Roundhouse Capital Holdings, a subsidiary of the Friedkin Group, which has purchased Farhad Moshiri’s 94% stake in the club through Blue Heaven Holdings. Roundhouse will further increase its ownership to 99.5% through additional debt-to-equity conversions.
The Friedkin Group has outlined its vision for a “sustainable and successful” future, focusing on strengthening the men’s first team, developing home-grown talent through the academy, creating a unique strategy for both the on-pitch performance and commercial aspects of the women’s team, and maximising the potential of the new stadium.
Everton is set to move from Goodison Park to their new 52,888-capacity stadium at Bramley-Moore Dock at the start of next season.
Ana Dunkel, the Friedkin Group’s chief financial officer, will join the board, while Colin Chong will continue as interim chief executive until a permanent appointment is made.
Incoming executive chairman Watts said: “Today marks a momentous and proud occasion for the Friedkin Group as we become custodians of this iconic football club. We are committed to leading Everton into an exciting new era both on and off the pitch.
“Providing immediate financial stability to the club has been a key priority, and we are delighted to have achieved this.
“While restoring Everton to its rightful place in the Premier League table will take time, today is the first step in that journey.”
Watts said the immediate priority is to stabilise Everton and improve performances on the pitch, adding that most of the club’s debt has been turned into equity, repaid or refinanced on more favourable terms.
