Friedkin Group Acquires 98.8% Stake in Everton for £400 Million, Marking 10th American Ownership

Dec 19, 2024, 10:41 AM

The Friedkin Group (TFG) has completed its takeover of Everton Football Club, acquiring a 98.8% stake from majority shareholder Farhad Moshiri in a deal valued at over £400 million. This marks the end of Moshiri's eight-year tenure, which was marked by financial struggles and relegation battles. TFG, led by chairman Dan Friedkin, also owns Italian Serie A club Roma and French fourth-tier side Cannes. The acquisition brings Everton under the 10th majority American ownership in the Premier League. The group aims to restore financial stability to the club, which has been burdened by debt and has faced sanctions under the Premier League's profitability and sustainability rules. Everton's new stadium project at Bramley-Moore Dock, set to be completed next season, is seen as a key asset that could generate significant revenue. TFG has committed to improving the club's financial position by converting short-term debt into equity and long-term debt secured against the new stadium. The takeover has been approved by the Premier League, the Football Association, and the Financial Conduct Authority.