The Friedkin Group has officially completed its takeover of Everton Football Club, bringing an end to the tumultuous era of Farhad Moshiriβs ownership. This significant transition sees the group acquiring a staggering 99.5% stake in the club, with the financial details of the deal reportedly exceeding Β£400 million. As a result, Everton now stands as the 10th club within the Premier League to fall under the predominant control of American investors, marking a notable shift in the English football landscape.
The groundwork for this acquisition was laid when the Friedkin Group reached an agreement with Moshiri on 23 September. Following this, the group was in a phase of waiting for the necessary regulatory approval. Ultimately, the Premier League, as the governing body, has granted the final authorization for this critical transaction to proceed.
Leading the Friedkin Group is chairman Dan Friedkin, a prominent businessman who also holds ownership of the Italian Serie A club AS Roma. Friedkin boasts a significant personal wealth, estimated by Forbes to be around Β£6.16 billion, highlighting the financial clout he and his group bring to the table.
As part of the new governance structure, Friedkin has been put forward as the proposed chairman of Everton’s board, while Marc Watts, the president of the Friedkin Group, will serve as executive chairman. In this role, Watts will take charge of the operational management of the club, a responsibility that includes overseeing day-to-day operations and strategic planning.
Friedkin expressed his enthusiasm in an open letter to supporters, stating, “I take immense pride in welcoming one of England’s most historic football clubs to our global family, the Friedkin Group. Everton represents a proud legacy, and we are honoured to become custodians of this great institution.” He emphasized the importance of Everton in local culture and history, recognizing the deep emotional connection fans have with the club.
He further asserted, “Whilst we are new to the club, we fully understand the vital role Everton plays in local culture, history, and the lives of Evertonians here and around the world. We are deeply committed to honouring this legacy while contributing positively to the community, economy, and people of this remarkable city.” This sentiment reflects the Friedkin Groupβs intention not only to manage the club effectively but also to respect its rich tradition and connection with the local community.
Farhad Moshiri, the outgoing owner, initially acquired a 49.9% stake in Everton back in 2016. He later increased his ownership share to 94.1% in 2022, but his tenure has faced criticisms amid the clubβs struggles on the pitch. Under Moshiriβs leadership, Everton has remained in the top flight of English football without relegation since the 1953β54 season, yet they have experienced a decline, finishing in the bottom half of the Premier League for the past three seasons, in positions 16th, 17th, and 15th. Now, they find themselves again in a precarious 16th position.
As Everton prepares to face second-placed Chelsea at Goodison Park on Sunday at 14:00 GMT, it is anticipated that representatives from the Friedkin Group will be present at the game, signaling their commitment to the club right from the outset of their ownership. This match presents an early opportunity for the new ownership structure to engage with fans and showcase their vision for the future of Everton.
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