Everton reach agreement with Friedkin Group for the takeover of the club
The Friedkin Group has agreed to acquire owner Farhad Moshiri’s 94.1% share in Everton, and are now poised to buy the team, according to David Ornstein of The Athletic.
The Premier League and Football Association still need to approve the deal before it can close, but The Friedkin Group, led by US investor Dan Friedkin, is certain to become the next owners of the Merseyside club.
A few months ago, the Friedkin Group, who also owns AS Roma, were on the verge of completing a deal to buy Everton.
However, they announced their withdrawal because of worries over debts the team had obtained from other investors.
They have now reached an agreement with Moshiri’s company, Blue Heaven Holdings, pending permission from the Financial Conduct Authority, the Premier League, and the Football Association.
BREAKING: The Friedkin Group reaches total agreement to buy Everton. TFG purchasing all Farhad Moshiri shares + investing to reduce club debt. Moshiri accepted best deal for #EFC. Approval process ~12wk. Secures financial stability/future @TheAthleticFC https://t.co/iuodV3V47U
— David Ornstein (@David_Ornstein) September 23, 2024
Everton were facing an uncertain future in terms of ownership. (Photo by Michael Regan/Getty Images)
A spokesperson for The Friedkin Group said, as reported by The Daily Mail:
‘We are pleased to have reached an agreement to become custodians of this iconic football club.
‘We are focused on securing the necessary approvals to complete the transaction.
‘We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.’
Everton are stuck in the relegation zone at the moment
Stability at the club in terms of ownership will help the Toffees to improve their results on the pitch.
They have started the new season in disastrous form, with the Merseyside club currently sitting in 19th position.
They have won just one point from their opening five games of the season and that has put Sean Dyche’s job at the club under severe pressure.
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