Everton confirm ‘£500m’ Friedkin Group takeover
Everton have agreed to sell Farhad Moshiri’s 94% stake in the club to the Friedkin Group, the Toffees have confirmed.
The takeover, which is worth £500m according to UK media reports, is subject to regulatory approval from the Premier League, the Football Association (FA), and the Financial Conduct Authority.
News of the takeover ends a period of uncertainty for the Toffees, following the collapse of the previous agreement with 777 Partners.
After the agreement with the Miami-based private investment company expired after 31st May, Everton would then agree a deal in principle with the Friedkin Group in June.
The Premier League club subsequently granted a period of exclusivity to the group, which is led by US billionaire Dan Friedkin, who also owns AS Roma. However, discussions between the two parties stalled, and ended without an agreement on 19th July.
In the meantime, Crystal Palace co-owner John Textor had also expressed interest in investing in Everton, and recently secured financial backing from US investment firm Aliya Capital Partners in order to bolster his bid.
The US businessman would have to divest his current holding in Palace before any potential involvement with Everton.
The deal comes at a difficult time for the Merseyside club, which currently sits bottom of the Premier League, amid fears of relegation to the EFL Championship.
“We are pleased to have reached an agreement to become custodians of this iconic football club,” a spokesperson from the Friedkin Group said.
“We are focused on securing the necessary approvals to complete the transaction. We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.”
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