US-based Friedkin Group Complete Takeover Of Everton

The Friedkin Group (TFG), managed by American billionaire Dan Friedkin, has officially completed its acquisition of Everton Football Club, gaining a majority ownership in the Premier League club. This move ends Farhad Moshiri’s stint at Goodison Park and marks the start of a new era for the Merseyside club.

Dan Friedkin, who owns Serie A club AS Roma and has an estimated net worth of $6.1 billion (£4.8 billion), adds his sports management experience to Everton. Incoming executive chairman Marc Watts called the acquisition a “momentous and proud occasion.”

“Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club,” Watts said in a statement. “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.”

Farhad Moshiri, Everton’s outgoing majority stakeholder, confirmed his faith in the transaction, calling it the “best outcome” for the club’s future. “I truly believe that the transaction with The Friedkin Group is the best outcome for the club and its future success,” Moshiri told me. He praised the efforts done during his tenure, which included stabilizing the club’s finances, establishing a new sporting department, and moving forward with Everton’s iconic new stadium.

“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,” Moshiri added.

The takeover culminates an 18-month process that included rumors from potential suitors such as MSP Sports Capital, 777 Partners, and John Textor before The Friedkin Group was announced as the final buyer.

Sky Sports News correspondent Alan Myers reacted on the move, stating that while Everton fans can look forward to a new beginning, obstacles remain. “Many of the issues they inherited at Roma are waiting for them at Everton: a team underperforming, a club with a big history, and a passionate fan base hungry for a return to the glory days,” Mr. Myers said.

The Friedkin Group’s time at AS Roma has been defined by both obstacles and successes, including silverware under the high-profile management of Jose Mourinho. However, stability remains a major concern, which Everton will also require in the coming years.

Everton fans are eager for change following years of decline from the club’s peak heights. The new ownership offers a chance for a secure and progressive future, complete with a new cutting-edge stadium and enhanced financial prospects. As Watts takes over, the Friedkin Group has committed to prioritize long-term expansion while addressing immediate needs, such as securing Everton’s Premier League status.

Everton is embarking on a new adventure with the help of TFG, and fans will be keeping a close eye on the club as it strives to reestablish its identity and image in English football.