Everton Takeover: Roma Owners Friedkin Group Agree Deal for Premier League Club

Everton Nears Takeover as Agreement Reached with Friedkin Group

Everton Football Club’s prolonged takeover saga appears to be nearing its conclusion as the struggling Premier League side announced on Monday that it has reached an agreement with the Texas-based Friedkin Group for the purchase of the club.

The Friedkin Group, fronted by Dan Friedkin and his son Ryan, expressed their commitment to providing stability and shared their vision for Everton’s future. This development comes at a crucial time for the Merseyside club, currently languishing in 19th place in the 20-team English top flight.

The Friedkin Group, a consortium with investments spanning automotive, entertainment, hospitality, and sports sectors, already owns Italian soccer club Roma. The group, which made its fortune distributing Toyotas in Texas, is now set to add Everton to its portfolio.

This agreement follows several unsuccessful takeover attempts in recent months. In June, an agreement in principle was reached to buy the 94% stake of Everton’s majority shareholder Farhad Moshiri, but talks were called off a month later. Subsequently, Everton entered negotiations with American businessman John Textor, whose exclusivity agreement was due to expire on November 30. Earlier this year, a proposed takeover by 777 Partners also collapsed.

The current agreement between Everton and the Friedkin Group is “over the terms of the sale” of Moshiri’s stake, subject to approval from English soccer authorities. The Friedkin Group expressed their pleasure in potentially becoming custodians of Everton.

Everton’s financial situation has been precarious, with the club losing money monthly and urgently needing to find a buyer. The team is also in the process of moving from Goodison Park to a new stadium at Bramley-Moore Dock.

Reports suggest that the Friedkin Group is already a lender to Everton, having injected 200 million pounds ($265 million) into the club. This amount could potentially be converted into equity as part of the deal.

Everton, one of England’s most storied clubs, hasn’t won a major trophy since 1995 and has battled against relegation in recent years, narrowly avoiding the drop on the final day of the 2022-23 season.

As the takeover process moves forward, Everton fans will be hoping that this development brings much-needed stability and a new vision for the club’s future.