The Friedkin Group has formally taken majority management of Everton, marking the top of Farhad Moshiri’s tenure.
The deal, valued at over £400 million, makes Everton the tenth Premier League staff to come back below majority American possession.
The settlement between Moshiri and the Texas-based Friedkin Group was initially reached on September 23, however closing regulatory approval from the Premier League was required earlier than the takeover might be accomplished.
Led by chairman Dan Friedkin, the Friedkin Group additionally owns Serie A facet AS Roma.
As a part of the brand new management construction, Friedkin is predicted to function chairman of Everton’s board, with Marc Watts taking up the function of government chairman, overseeing the membership’s every day operations.
In an open letter to followers, Friedkin expressed his pleasure in regards to the acquisition: “I take immense satisfaction in welcoming certainly one of England’s most historic soccer golf equipment to our world household, the Friedkin Group. Everton represents a proud legacy, and we’re honoured to change into custodians of this nice establishment.
Membership Assertion: Everton Soccer Membership acquired by Roundhouse Capital Holdings Restricted, a part of The Friedkin Group. 🔵
— Everton (@Everton) December 19, 2024
“While we’re new to the membership, we totally perceive the very important function Everton performs in native tradition, historical past, and the lives of Evertonians right here and around the globe.
“We’re deeply dedicated to honouring this legacy whereas contributing positively to the neighborhood, financial system, and folks of this exceptional metropolis.”
Farhad Moshiri, a British-Iranian businessman, first bought a 49.9% stake in Everton in 2016 earlier than growing his possession to 94.1% in 2022.
His tenure was marked by vital monetary funding but additionally instability, as Everton struggled each on and off the pitch.
Everton, a membership that haven’t been relegated because the 1953–54 season, has endured three consecutive years of poor Premier League finishes, ending sixteenth, seventeenth, and fifteenth previously campaigns.
Presently sitting in sixteenth place, the staff faces one other difficult season below supervisor Sean Dyche.
The Friedkin Group’s representatives are anticipated to attend Everton’s upcoming match towards second-placed Chelsea at Goodison Park on Sunday.
