US-Based Friedkin Group Completes Takeover Of Premier League Club, Everton

The US-based Friedkin Group has finalized the acquisition of Everton, the Premier League club announced on Thursday.

Everton made it known that ownership had been transferred to Roundhouse Capital Holdings Limited, a subsidiary of the Friedkin Group.

According to the Premier League, the Friedkin Group has secured a 98.8 percent stake in Everton, making it the 10th English top-flight club to be predominantly owned by American investors.

This development follows Everton’s September statement revealing that the Friedkin Group had reached an agreement to purchase Farhad Moshiri’s majority stake in the club, pending regulatory approval. That approval has now been granted by the Premier League, Women’s Professional Leagues Limited, the Football Association, and the Financial Conduct Authority.

The BBC reported that the Friedkin Group’s acquisition of Everton exceeded £400 million ($506 million).

The Texas-based group is led by chairman Dan Friedkin and also owns Italian Serie A club Roma. Friedkin has a net worth of £6.16 billion, according to Forbes.

The club have twice been sanctioned under the Premier League’s profitability and sustainability rules (PSR) in the last 13 months, and had eight points in total deducted last season.

American investment firm 777 Partners was unable to complete a deal earlier this year.

John Textor, who has a 45 percent share in Crystal Palace, had appeared to be in the frame before Everton confirmed they were agreeing with the Friedkin Group.

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.