The Friedkin Group have completed their takeover of Everton, bringing to an end Farhad Moshiri's time at the club.
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Everton's American takeover approvedUS company takes 98.8% stakePremier League approves dealFollow GOAL on WhatsApp! 🟢📱Getty Images SportWHAT HAPPENED?
Last summer, the Friedkin Group—which also owns Roma and is headed by American billionaire Dan Friedkin—was on the verge of acquiring Everton before announcing that they had backed out of the deal because of worries over loans the team had taken out from other investors. However, the deal has been back on over the last few months and has now been completed.
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Since reaching an agreement to buy Farhad Moshiri's stake in the club, The Friedkin Group has been going through the regulatory process to approve their takeover. The Premier League has now given its regulatory approval to the agreement made between Moshiri's Blue Heaven Holdings and the Friedkin Group, allowing the deal to go through.
WHAT HAS BEEN SAID
A Premier League statement read: "The Premier League board has approved The Friedkin Group’s 98.8% acquisition of Everton Football Club, following the completion of the league’s owners’ and directors’ test. Having been agreed by the board, the takeover has now been ratified by an independent oversight panel. The club’s new owners and directors have also signed the Premier League’s owners’ charter."
Everton also confirmed the news in an update: "Everton Football Club has been acquired by Roundhouse Capital Holdings Limited (Roundhouse), an entity within The Friedkin Group (TFG). The transaction was finalised following an agreement between Farhad Moshiri’s Blue Heaven Holdings (BHH) and Roundhouse for the sale of BHH’s majority stake in the Club. The deal received the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association, and the Financial Conduct Authority."
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Marc Watts, incoming Executive Chairman of Everton Football Club, added: "Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club. 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.”
