Friedkin Group Completes Everton Takeover, Ending Moshiri’s Ownership

Everton’s future just took a wild turn! The Friedkin Group has wrapped up its takeover, putting an end to Farhad Moshiri’s rocky reign.

December 19, 2024
2:39 pm

Everton’s long-awaited takeover is finally here! The American Friedkin Group (TFG) has officially snagged a 94.1% majority stake in the club from Farhad Moshiri. This is a huge step towards ending the financial rollercoaster for the Toffees, who are now looking forward to a brighter future under new ownership.

The deal, made possible through Roundhouse Capital Holdings Limited, a TFG entity, includes turning Everton’s outstanding debts into long-term financial plans. Dan Friedkin, an American billionaire and owner of Serie A side AS Roma, is now at the helm and is all in on bringing the club back to its glory days.

Friedkin isn’t planning any immediate shake-ups in the footballing structure. Manager Sean Dyche and Director of Football Kevin Thelwell will keep their roles as they work to stabilize Everton’s Premier League standing. Dyche has his work cut out for him, with the team sitting 16th in the table, just three points above the relegation zone.

In a statement, Friedkin, who will serve as Chairman of the Board, shared his excitement for what’s ahead:

“Today is a proud moment for The Friedkin Group as we become caretakers of this iconic football club. Providing immediate financial stability has been our top priority, and we’re thrilled to have achieved this. While it’ll take time to restore Everton to its rightful place in the Premier League, today is the first step on that journey.”

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TFG has also brought in Marc Watts as Executive Chairman to oversee the club’s management. Interim CEO Colin Chong and TFG’s CFO Ana Dunkel will join the Board, with more appointments on the way. TFG representatives will be at Goodison Park for Everton’s next match against Chelsea.

Outgoing owner Farhad Moshiri, who faced challenges in delivering success despite big investments, is optimistic about the takeover.

“I truly believe that teaming up with The Friedkin Group is the best move for the club and its future success. I’m handing over to the new owners with confidence in the club’s outlook and in our amazing fans, who deserve to see success on the pitch.”

Moshiri leaves behind a mixed legacy, including some financial hiccups and a shaky Premier League position. However, he pointed out progress in areas like the development of Everton’s new Bramley Moore Dock stadium, which is still on track.

For Everton fans, the Friedkin Group takeover brings a fresh wave of optimism as the club kicks off what they hope will be a new era of stability and success.