The Friedkin Group, a Texas-based conglomerate, is currently in exclusive discussions to acquire a majority stake in Everton, as confirmed by the Premier League club on Friday. The Friedkin Group, known for its diverse portfolio spanning automotive, entertainment, hospitality, sports, and adventure industries, includes Italian soccer team Roma among its assets.
Everton disclosed that it had attracted significant interest from various reputable parties seeking to invest in the club. Following this, a period of exclusivity has been granted to The Friedkin Group to advance talks regarding the acquisition of a majority shareholding in Everton.
This development comes after a failed takeover attempt by 777 Partners, a Miami-based private investment firm, earlier this month. The proposed deal, which aimed to buy out Everton's majority shareholder Farhad Moshiri, could not be finalized within the stipulated deadline.
The Friedkin Group boasts a diverse business portfolio, including Gulf States Toyota, a company that Forbes reported sold $9.1 billion worth of Toyotas in 2022. Additionally, its production company 30 West was responsible for the movie 'Killers of the Flower Moon,' featuring Martin Scorsese and Leonardo Di Caprio.
In 2020, The Friedkin Group acquired Roma for $700 million, leading the club to victory in the Europa Conference League in 2022 and securing a runner-up position in the Europa League the following year. The conglomerate's interests extend to luxury hotels, resorts, golf clubs, and adventure industries, aligning with its mission to provide exceptional experiences beyond the ordinary.
For Everton, this potential acquisition offers a glimmer of hope amid on-field challenges and ownership uncertainties. The nine-time English champion has faced relegation threats in recent seasons, reporting significant financial losses and receiving point deductions for breaching Premier League regulations.
Despite ongoing struggles, Everton continues its preparations for a new 52,888-capacity stadium scheduled for completion next year. The club, a founding member of the English Football League and Premier League, enjoyed success in the 1980s but has since endured a trophy drought since 1995.
With substantial investments in player transfers and renowned managers, Everton's current majority shareholder, Farhad Moshiri, expressed intentions to sell due to evolving trends in football club ownership and financing. Moshiri's decision to sell aims to secure funding for the new stadium project, crucial for Everton's future endeavors.
