The Friedkin Group has formally taken majority management of Everton, marking the tip of Farhad Moshiri’s tenure.
The deal, valued at over £400 million, makes Everton the tenth Premier League crew to return below majority American possession.
The settlement between Moshiri and the Texas-based Friedkin Group was initially reached on September 23, however last regulatory approval from the Premier League was required earlier than the takeover may very well 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 over the position of government chairman, overseeing the membership’s day by day operations.
In an open letter to followers, Friedkin expressed his pleasure in regards to the acquisition: “I take immense delight in welcoming one in all England’s most historic soccer golf equipment to our world household, the Friedkin Group. Everton represents a proud legacy, and we’re honoured to turn 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 absolutely perceive the important position 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 group, financial system, and other people 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 important monetary funding but additionally instability, as Everton struggled each on and off the pitch.
Everton, a membership that haven’t been relegated for the reason that 1953–54 season, has endured three consecutive years of poor Premier League finishes, ending sixteenth, seventeenth, and fifteenth prior to now campaigns.
Presently sitting in sixteenth place, the crew 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.