Dan Friedkin Agrees to Buy 94.1% Stake in Everton FC from Farhad Moshiri in £400-500m Deal

Sep 23, 2024, 02:07 PM

US billionaire Dan Friedkin has agreed to acquire a majority stake in Everton FC from current owner Farhad Moshiri. The deal, involving the purchase of Moshiri's 94.1% stake, is valued between £400 million and £500 million. The Friedkin Group, which had previously pulled out of talks two months ago, has now reached a final agreement, subject to regulatory approval. The transaction is expected to secure the financial stability of the Premier League club, which has faced significant challenges in recent years. The agreement includes additional funding to help with the new stadium fit-out and working capital, further reducing the club's debt. Blue Heaven Holdings confirmed the agreement, which also involves an equity investment. Dan Friedkin's bid rivals that of Lyon owner John Textor.