The Friedkin Group (TFG) has completed the takeover of the Premier League club, Everton Football Club.
The company, which also owns the Italian club, AS Roma, and is led by American billionaire, Mr Dan Friedkin, has acquired a majority stake in Everton, starting a new era for the Merseyside club and ending Mr Farhad Moshiri’s time in charge at Goodison Park.
This ends an 18-month-long stressful sale process which saw a lot of buyers express interest in buying the club.
First, it looked like MSP Sports Capital, then 777 Partners, and there was the Friedkin Group’s initial interest only for them to walk away.
The eventual buyers re-emerged after John Textor pulled out.
The deal will see important changes made to the various men’s and women’s teams as well as improvements in club infrastructure.
The transaction was finalised following an agreement between Mr Farhad Moshiri’s Blue Heaven Holdings (BHH) and Roundhouse for the sale of BHH’s majority stake in the club.
The deal received the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association, and the Financial Conduct Authority.
Speaking on the deal, Mr Marc Watts, incoming Executive Chairman of Everton Football Club, expressed his enthusiasm, noting that it will aim to change the course of the club.
“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.”
Mr Moshiri, the outgoing majority shareholder, stated: “I truly believe that the transaction with The Friedkin Group is the best outcome for the Club and its future success.”
“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.”
On his part, Mr Dan Friedkin, Chairman and CEO of TFG is proposed to be Chairman of the Board. He has appointed Marc Watts to serve as Executive Chairman, who will be responsible in this role for the management of the club.
Ms Ana Dunkel, TFG’s Chief Financial Officer and Mr Colin Chong, the Club’s interim CEO will also serve on the Board.
The statement added that more appointments will be made in the coming weeks.