The Friedkin Group have completed their takeover of Everton, bringing an end to Farhad Moshiri’s reign at the football club.
The US company, which is owned by American billionaire Dan Friedkin, have bought Moshiri’s 94.1 per cent stake in the Toffees and have started a new era at Goodison Park.
A figure has not been disclosed on how much the takeover has cost but all of Everton‘s many debts have been converted into long-term debts. It is though the deal could cost in the region of £500 million.
Friedkin, who also owns Serie A side Roma, is reportedly worth $6.1 billion (£4.8m).
Club Statement: Everton Football Club acquired by Roundhouse Capital Holdings Limited, part of The Friedkin Group. 🔵
— Everton (@Everton) December 19, 2024
In an official statement on Thursday, incoming executive chairman Marc 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.”
Everton Takeover: Farhad Moshiri’s Turbulent Reign Comes To An End
Outgoing shareholder Farhad Moshiri has endured a rocky time during his reign at Everton.
The British-Iranian billionaire is set to take a huge financial hit on selling the club. He has invested more than £450m into the club but could walk away with as little as £25m.
His ownership has often received criticism from Everton fans. While Moshiri has invested heavily in the club, a criticism levelled at Moshiri is that the money has been spent poorly.
Moshiri has now said the takeover is the best outcome for the club’s future.
Dan Friedkin writes to Evertonians following our takeover completion. ✍️🔵
— Everton (@Everton) December 19, 2024
“I truly believe that the transaction with The Friedkin Group is the best outcome for the club and its future success,” Moshiri said.
“There has been a huge team effort in getting to this stage and I would like to personally thank my Board colleagues John Spellman and Colin Chong and all the senior management team including Katie, James, Richard and of course Kevin and Sean for their huge commitment to the club.
“Despite a challenging geopolitical backdrop, a significant amount has been achieved over the last couple of years including the delivery of a new sporting department, the stabilisation of our finances and the delivery of our iconic new stadium.
“I now hand over to new owners confident in the outlook for the club and that our incredible fans will see the success on the pitch that they so thoroughly deserve.”
A New Era At Goodison Park Begins
Everton currently find themselves 16th in the Premier League, three points above the relegation zone.
Dan Friedkin, who is set to become Everton’s new chairman, is reportedly set to stick by Sean Dyche with the takeover now complete.
Representatives of The Friedkin Group are set to be present at Goodison Park for the club’s next game against Chelsea.
The club will also confirm who will be coming in to run Everton in the coming days.
