Everton have agreed a sale to the Friedkin Group, pending approval from the Premier League and other regulatory parties.
A joint-statement was released by the Toffees and the Friedkin Group on Monday confirming that the U.S. investment group, led by Dan Friedkin, has agreed to purchase the majority stake that Farhad Moshiri’s Blue Heaven Holdings currently owns.
If the takeover deal is agreed then Dan Friedkin, from Texas, will make Everton the 10th current Premier League team either fully-owned or part-owned by Americans.
Statement in full as Everton sale agreed
“Blue Heaven Holdings and The Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings’ majority stake in Everton Football Club. The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.
“A spokesperson for The Friedkin Group said: “We are pleased to have reached an agreement to become custodians of this iconic football club. We are focused on securing the necessary approvals to complete the transaction. We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.”
A fresh start for Everton
With Everton moving into their new stadium at Bramley Moore Dock for the start of next season, the club now seeks stability after a tumultuous few seasons on and off the pitch.
John Textor, 777 Partners and Friedkin have all been involved in talks to buy the club over the last 12 months but Friedkin has won the race.
If the takeover is completed, big challenges still lie ahead as Friedkin will inherit a complex financial situation due to the many loans taken out, the interest paid on those and Everton moving to their new stadium. But there’s no doubt they have a plan to steer the Toffees towards brighter times and the fact that Dan Friedkin has a lot of experience running a huge team like Roma in Serie A, and has led them to success in Europe, bodes well for Everton’s long-term future.
In the short-term, Everton have narrowly avoided relegation in each of the last three seasons and were deducted a total of eight points last season after they were found guilty of breaching Premier League Profit and Sustainability Rules twice.
Now they look to put all of that past them and their first target is to stay in the Premier League this season, then rebuild their status as a sleeping giant of English football.