SPORTS: US-BASED FRIEDKIN GROUP COMPLETE EVERTON TAKEOVER

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The Premier League team declared on Thursday that the US-based Friedkin Group had successfully acquired Everton.

Everton announced that Roundhouse Capital Holdings Limited, a company in the Friedkin Group, had purchased the team.

According to the Premier League, the Friedkin Group has acquired a 98.8% share in Everton, making it the tenth English Premier League team with a majority American ownership.

The news Thursday follows Everton’s announcement in September that the Friedkin Group had agreed to purchase Farhad Moshiri’s majority stake in the struggling team, provided regulatory approval was obtained. This approval has now been given by the Football Association, the Premier League, Women’s Professional Leagues Limited, and the Financial Conduct Authority.

The Texas-based organisation, which also owns the Italian Serie A team Roma, is headed by chairman Dan Friedkin. Forbes estimates Friedkin’s net worth to be £6.16 billion.

The team had eight points taken away from them last season and has been sanctioned twice in the last 13 months under the Premier League’s profitability and sustainability rules (PSR).

Earlier this year, American investment group 777 Partners failed to close a deal.

Before Everton announced they were signing a deal with the Friedkin Group, John Textor, who has a 45 percent stake in Crystal Palace, had seemed like a contender.
Everton are putting the finishing touches to a new stadium and are preparing to leave Goodison Park, which has been the club’s home since 1892.

They are currently 16th in the Premier League table, just three points above the relegation zone.

Everton have remained in the English top flight for the last 70 years but have survived a number of battles to avoid relegation in recent seasons.

The Liverpool-based club posted losses of just under £400 million ($534 million) for the four years between 2019 and 2023.

British-Iranian businessman Moshiri first bought a 49.9 percent stake in Everton in 2016, before increasing his holding to 94.1 percent in 2022.

Despite their recent struggles, Everton are one of England’s most historic clubs. Only Manchester United, Liverpool, Arsenal and Manchester City have won more top-flight titles than their total of nine.

But the last of those came in the 1986/87 season and the club have not won a major trophy since 1995.

AFP