Everton enters exclusive takeover talks with Friedkin Group

Everton has announced that they have granted a period of exclusivity with the Freidkin Group over a potential purchase of the club. Farhad Moshiri, the current owner of the Toffees, has been trying to offload the team for nearly a year. The British-Iranian businessman initially became a minority owner of the club in 2016. He, however, increased his Everton shares to 94% six years later.

Despite only just completing a near-full takeover of the team two years ago, the Toffees have endured financial hardship. As a result, Moshiri announced that he had struck a deal to sell the team to 777 Partners last September. Nevertheless, the pending agreement hit several snags along the way.

While 777 Partners provided the English club with multiple massive loans, the group was unable to complete the deal. As a result, Moshiri quickly received a series of offers from seemingly more qualified buyers. This lengthy list reportedly included tech billionaire Michael Dell, Crystal Palace owner John Textor, and the Friedkin Group. All three of these investors looking to purchase Everton hail from the United States.

Moshiri picks Friedkin Group over other interested parties

Although Moshiri seemingly had several serious offers, he has officially chosen the Friedkin Group as his first choice. “Blue Heaven Holdings has received significant interest from several highly respected parties interested in investing in the club,” a statement released by Everton read.

“The club can confirm today (June 21) that a period of exclusivity has been granted to The Friedkin Group to progress discussions to acquire a majority shareholding in Everton. All parties will now work together to conclude this process. In the meantime, the club will continue to operate as normal.”

The Friedkin Group, led by Texan Dan Friedkin, currently owns Italian side Roma. The American investors previously purchased the Serie A team back in the summer of 2020 after lengthy negotiations. The…

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Author : Chris Moore

Publish date : 2024-06-23 01:05:52

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