The Friedkin Group has reached an agreement with Blue Heaven Holdings to purchase Farhad Moshiri’s majority stake in Everton.
The Friedkin Group, led by American businessman Dan Friedkin, had interest in purchasing the club over the summer, but the talks reportedly fell through due to Everton's large outstanding debt of over
$798 million (£600 million), per The Athletic. Moshiri briefly turned to John Textor, the owner of Lyon, but Textor’s Eagle Football Group's 45% stake in Crystal Palace prevented the group from also acquiring Moshiri’s 94% stake in Everton.
The Friedkin Group revitalized its efforts, though, and now is on the cusp of taking full control and ownership of The Toffees.
The transaction marks The Friedkin Group's second soccer business venture; the group already owns AS Roma. Now, pending approval, Friedkin is turning his attention to the Premier League.
A joint statement from Blue Heaven Holdings and The Friedkin Group confirmed the agreement today, stating, "Blue Heaven Holdings and The Friedkin Group confirm that they have reached an agreement over the terms of the stake in Everton Football Club. The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority."
— Everton (@Everton) September 23, 2024
"We are pleased to have reached an agreement to become custodians of this iconic football club," a spokesperson for The Friedkin Group said. "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."
The news comes amid a tumultuous start to Everton's 2024–25 Premier League campaign. Sean Dyche's men have yet to find a win in their first five fixtures of the season and only recently collected their first point after a 1–1 draw with Leicester City at the weekend. The Merseyside club is level with Southampton and Wolves at the bottom of the standings.
If Everton's poor string of performances continue, more changes could hit the club once The Friedkin Group completes its takeover.
This article was originally published on www.si.com as The Friedkin Group Reaches Agreement to Purchase Everton.
