19/12/2024 55comments  |  Jump to last

The Friedkin Group are officially the new owners of Everton Football Club after their buy-out of Farhad Moshiri's 94.1% stake in the Club was ratified.

After more than 12 weeks of regulatory scrutiny, the Premier League gave its approval for the change of ownership to go ahead this week and the Houston-based firm's takeover could finally be confirmed today.

Everton have been acquired by Roundhouse Capital Holdings Limited (Roundhouse), an entity within The Friedkin Group (TFG), following the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association, and the Financial Conduct Authority.

The Premier League issued this statement: 

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The Premier League Board has approved The Friedkin Group’s 98.8 per cent acquisition of Everton Football Club, following the completion of the league’s owners’ and directors’ test.

Having been agreed by the board, the takeover has now been ratified by an Independent Oversight Panel.

The club’s new owners and directors have also signed the Premier League’s Owners’ Charter.

The price of the long-anticipated transaction is believed to be in the region of £500m but the financial intricacies of the deal are complicated by Everton's massive debts — now thought to be a least £660m — and were a compounding factor in the sale. A significant part of that debt, in the form of interest-free shareholder loans provided to the club by Moshiri, has been converted to equity via a new share issue.

It represents the end of a long drawn-out process that began with Moshiri entertaining offers for his majority shareholding in the club in 2022 after Everton's finances reeled in shock at the removal of corporate sponsorship deals connected with the Uzbek-born oligarch, Alisher Uzmanov, when he was sanctioned by Western governments in response to Russia's invasion of Ukraine. 

Since then, both the British-Iranian businessman's willingness to and ability to keep funding the Club has been significantly curtailed as he sought to sell his investment. He entered into exclusive talks with the KAM Group, MSP Sports Capital and Miami’s 777 Partners before reaching an agreement with The Friedkin Group in September.

With the sale of the Club being finalized, and the consequent departure of Moshiri, the Interim Board of Directors that was put in place last year following the departures of CEO Denise Barrett-Baxendale, finance director Grant Ingles and non-executive director Graeme Sharp will be disbanded. 

Colin Chong stepped in as interim CEO and deserves tremendous credit for overseeing the final stages of construction of the new stadium at Bramley-Moore Dock, the keys to which are expected to be handed over to the Club for the final fit-out process any day now.

TFG have named the new Executive Chairman of Everton, Marc Watts, who is currently a director at AS Roma, with other directors expected to succeed Chong, Moshiri, James Maryniak and John Spellman shortly.

With no announcement from the new owners regarding the footballing side of the operation, both the manager, Sean Dyche, and Director of Football, Kevin Thelwell, keep their jobs for the time being where continuity is understood to be preferred as Everton seek to preserve their place in the Premier League over the second half of the season.

A statement from Dan Friedkin read:

Dear Evertonians,

Following the completion of the takeover of Everton Football Club, I want to express my gratitude for your continued support and introduce the incoming Executive Chairman of Everton, Marc Watts.

I take immense pride in welcoming one of England’s most historic football clubs to our global family, The Friedkin Group. Everton represents a proud legacy, and we are honoured to become custodians of this great institution.

The Friedkin Group is a diverse family of companies with a global footprint spanning industries such as sports, automotive, entertainment, hospitality, and adventure. Across all our endeavours, we strive to deliver extraordinary experiences that ignite people’s passions. We are thrilled to bring this ethos to Everton and the Liverpool City Region.

Whilst we are new to the Club, we fully understand the vital role Everton plays in local culture, history, and the lives of Evertonians here and around the world. We are deeply committed to honouring this legacy while contributing positively to the community, economy, and people of this remarkable city.

Once again, thank you for your continued support.

Yours sincerely,

Dan Friedkin

 

 

Reader Comments (55)

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Michael Stewart
1 Posted 19/12/2024 at 10:12:53
Outstanding news. Let’s now hope for some stability and progression.
Neil Cox
2 Posted 19/12/2024 at 10:13:56
Thank God for that! Great news
Andrew Keatley
3 Posted 19/12/2024 at 10:14:57
Moshiri was a false dawn that threatened to kill our great club. Let’s hope the Friedkin era brings some off-field stability and on-field ambition.
Steve Barnes
4 Posted 19/12/2024 at 10:15:08
Fantastic news! Thursday brings new owners, Friday brings a new stadium Saturday brings news of a stadium sponsor (Toyota…?) and Sunday we batter Chelski !

Well, it is Christmas and I can dream….

COYB !

Dave Waugh
5 Posted 19/12/2024 at 10:16:43
Great news. Let's hope this ushers in a new era of re-building our club and some immediate strengthening of the team.
Noleen Daya
6 Posted 19/12/2024 at 10:17:05
HEEEEEEEHAAAAAAAAA! I've got the champers in the fridge and when I'm done with work tonight I'll be glugging away. Lets hope it's onwards and upwards in all the positive ways and that the Friedkin bunch aren't another nightmare to live through (altho', can they possibly be worse than Moshiri?). I never wanted Americans to own our club but hell. I'm just going to enjoy this moment for what it is! Well done to all of us who's been living through the dread and are still here!
John Chambers
7 Posted 19/12/2024 at 10:22:34
That’s the Christmas present sorted!
Whilst the team is in a worse position than when Moshiri arrived with the new stadium, this acquisition and the lifting of some of the debt Moshiri saddled us with the club is definitely in a better position to grow and eventually get us back at the right end of the table. I’m sure we all hope that happens quickly but I suspect progress will be much more measured and sustainable under the new owners rather than trying to buy every number 10 going in the summer
Tony Waring
9 Posted 19/12/2024 at 10:24:22
Great news. Let's all look forward to stability and many more goals starting with the game against Chelsea. Is there any truth in the rumour that we have re-signed Naismith for a one match appearance or is it just wishful thinking ?
Mark Andrews
10 Posted 19/12/2024 at 10:25:50
This looks like excellent and exciting news.
Hopefully now our tired old club can be rejuvenated by competent and ambitious owners.
Moving away from the past few years of barely keeping our heads above water to actually flourishing.
Patience is the key word here as Rome wasn't built in a day, but tangible improvements should be visible to us soon.
Please, no more dark days. We've had more than our fair share in recent years.
UTFT
Pat Kelly
11 Posted 19/12/2024 at 10:27:43
About Friedkin time
Brent Stephens
12 Posted 19/12/2024 at 10:28:34
I'm pleased with the sale, swerving e.g. 777. Given our various false dawns over recent years (new ownership, new head coaches and DoFs), I'm going to be cautiously optimistic.
Brendan McLaughlin
13 Posted 19/12/2024 at 10:28:39
At last!

Great Christmas present for all Evertonians.

Mike Hayes
14 Posted 19/12/2024 at 10:30:07
Always good to get early Christmas presents let’s hope Friedkin can exorcise the ghosts of Christmas past - onwards and upwards slowly and better than before 💙
Steve Shave
15 Posted 19/12/2024 at 10:31:36
This is really fantastic news. A new dawn, a chance to wipe the slate clean. I really hope they bring in a cohesive and visionary board. Top to bottom culture change and reset required.

It will be a long road but hope springs in the corridors of our great club once again! A spectacular review needs to be undertaken of how the club has been run. Mistakes must be learnt from.

Let’s make the Freidkins know what we are about at the weekend, let’s show them what they have brought and the potential that could be unearthed.

A pre-season friendly with Roma next year please, let’s get behind the multi-club model (like it or not) and welcome them with open arms.

As for Moshiri….i don’t want to hear his name again, one of the worst things to happen to our club. Foolish man.

Neil Lawson
16 Posted 19/12/2024 at 10:34:22
Great news. Genuine optimism now. Sunday may be 'D Day'. How important may that result and performance be ? Let's see. COYB.
Robert Williams
17 Posted 19/12/2024 at 10:34:52
Now, don't make any mistakes like hiring Moyes or Mourinho!
COYBs
Kevin Edward
18 Posted 19/12/2024 at 10:37:46
Wow! We move on at long last.

I really hope we can regain some of the status we’ve lost (or thrown away) over the last years.

The new stadium is a new dawn, new owners too. If these guys are smart with money and have a bit of luck with managers and players then we’re back in the game.

The fact that so many Evertonians have stuck with the club and still believe is a miracle. We must have been so so close to going down the drain.

But Moshiri gets some credit for building the new stadium, it’s up to the new owners to make it a success and all things good can follow.

Up the Toffees!

Andrew Merrick
19 Posted 19/12/2024 at 10:38:02
Yesssssssssssssss
brilliant timing, made up
Joe McMahon
20 Posted 19/12/2024 at 10:40:41
Thrilled! Hopefully better times are now ahead, better style of football in a stadium to be proud of.
Merry Christmas to all Blues!
Mike Gaynes
21 Posted 19/12/2024 at 10:44:02
That’s about 10 years worth of Hanukkah presents for me!

The menorah will blaze tonight with all blue candles, even though it’s a few days early.

Bob Parrington
22 Posted 19/12/2024 at 10:45:05
Haleluhya, Haleluhya - Just next to our anniversary of the first official Everton game in 1897! Great Omen! See you in the top 6 shortly. Sorry if my spelling of the H word is wrong
Christine Foster
23 Posted 19/12/2024 at 10:48:53
Hopefully it will spark a big lift on the terraces and the pitch at the weekend, show them what Gooison can do!
Steve Brown
24 Posted 19/12/2024 at 10:49:39
Brilliant news, now the hard work begins.

Standards and professionalism at all levels are needed.

Steve Shave
25 Posted 19/12/2024 at 10:50:43
Ha, no high and unrealistic expectations then Bob! This mess will take years to fix, culture change must happen though, starting today.

Expectations are the birthplace of disappointment so I am just going to enjoy being rid of the buffoon and the renewed life this will breathe into our stagnating corpse of a club.

I will also enjoy the feeling that we might actually have a vision, something sorely lacking for decades. Let's see what they do, hopefully they've been busy in preparation.

Colin Glassar
26 Posted 19/12/2024 at 10:52:26
Hallefuckinglujah!!! At long last.
Bob Parrington
27 Posted 19/12/2024 at 10:52:47
👍 Christine!
Mal van Schaick
28 Posted 19/12/2024 at 10:55:29
Here’s to a new era of Everton’s history. Onwards and upwards starting with a win on Sunday.
Brent Stephens
29 Posted 19/12/2024 at 10:58:33
Christine "Hopefully it will spark a big lift on the terraces and the pitch at the weekend, show them what Goodison can do!"

Yes! I guess the atmosphere at GP Saturday will be quite electric - coming off the results against Wolves and Arsenal (especially), the images of the nearly-complete BMD stadium, the anticipation of getting seats at the new place, and now this. I wonder if the players will receive any impetus from this?

Enough to make you want to celebrate with a bottle of Chang.

Ian Pilkington
30 Posted 19/12/2024 at 11:00:33
Hallelujah!
24 years and 360 days after Kenwright bought the club. May his disastrous reign be expunged at last. At least Moshiri left us the legacy of the new stadium.
Bob Parrington
31 Posted 19/12/2024 at 11:00:45
Steve Shave, Ok, Completely understood. But this is the start of a new being. I feel it in my bones. After being an Evertonian since 1954,' this is music to my ears. my last real high (before migrating to Australia in November 1986) was the Cup winners cup final in Rotterdam. Jees! that was good and helped by the Cops playing us in the main square.
Steve Dowdeswell
32 Posted 19/12/2024 at 11:06:07
Great news farewell Mr Moshri and welcome to TFG - Hopefully you will have a degree of business nouse and employee a back office staff who have a clue about running a football club. Then hopefully make changes on the pitch and on the touchline in January.

A mega naming rights deal a'la Etihad please would be nice too - if it's good enough for Man City to have inflated sponsorship deals it's good enough for us!

To be honest I will be happy if they just give a shit and turn up to a match now and then at Goodison this season and BMD in the future.

Paul Hewitt
33 Posted 19/12/2024 at 11:06:57
Moshiri may have been a disaster, but he left us a magnificent new stadium, and walked away from £450 million in loans


John Chambers
34 Posted 19/12/2024 at 11:10:33
Interesting comment on Talksport just now said we will be debt free! Not sure how that has come about as I thought outside of Moshiri’s loans to the club we owed another £350m or so to 777/Acap etc?
Brian Williams
35 Posted 19/12/2024 at 11:14:15
What a brilliant early Christmas present.

TFG are the real deal and if any group is going to help us progress it's them.

They'll make mistakes no doubt but who doesn't?

A great weight's been lifted from my own shoulders and although we're not out the shit in the league yet at least we have credible, professional owners who know their stuff and have the funds to make a difference.

UTFT!

Steve Brown
36 Posted 19/12/2024 at 11:15:41
It’s also being reported that Paul that Moshiri is walking away with £25 million from the £128 million he spent to buy the club and £450 million in shareholder loans.

That is a serious write off!

Paul Smith
37 Posted 19/12/2024 at 11:17:25
Long live sense and reason. So happy today !
Colin Glassar
38 Posted 19/12/2024 at 11:19:12
Yeah, yeah, yeah Paul. Moshiri did get the stadium built. Did “walk away” from his loans but let’s not forget, and keep things in context, he almost destroyed the club alongside his mate.

He turned the club into a basket case with his hiring and firing madness. He made us a laughing stock. He hired Sam Allardyce and the FSW ffs!!

The years of mediocrity under kenshite turned into a nightmare under Moshiri.

Yes, we’ve got a shiny new stadium but he’s left us in intensive care, and we’ll be paying for his mistakes for years to come.

Edward Rogers
39 Posted 19/12/2024 at 11:20:23
Great news, but what's even more encouraging is the understanding of posters on here and other outlets as to how it's not going to change things overnight. This process is going to take time, please let us all give them that time.
Richard Duff
40 Posted 19/12/2024 at 11:31:54
Fabulous news at last.

I really hope we don't hear much from TFG now, just let them get to work;

Restructuring the entire club from Ethos and Purpose through the Executive, Management and Staff layers, across all functions and divisions within the business, revise and modernise all of our commercial deals (stadium sponsors, shirt sponsors, kit distribution, catering, hospitality), exit Goodison with grace and gratitude, enter BMD with excitement, professionalism and shoulders back, chin up!

And maybe a couple of wing-backs for Christmas?

Paul Hewitt
41 Posted 19/12/2024 at 11:37:37
Colin I'm certainly not saying Moshiri hasn't made mistakes, he has, loads. But hopefully in a few years time when we're settled into BMD and the teams doing better, we can still thank him for the stadium and walking away with nothing. He could have easily demanded his Loans back. Then no one would have bought us.
Sean Kearns
42 Posted 19/12/2024 at 11:38:20
I'm told from a reliable source that Graeme Potter is to be our next manager… he was approached months ago but said he wouldn't take it until the takeover is complete.

Dyche knows and has downed tools and Seamus has been giving the team talks. Just what I've heard from somebody on the inside…

Bye all. Good times ahead.

Steve Brown
43 Posted 19/12/2024 at 11:40:04
Colin, you are being harsh there.

He wrote off £553 million of his investment and he left a new stadium that cost £750 million to build. He didn’t have to agree to those terms.

He did so to safeguard the future of the club, and for one an willing to express gratitude.

Mark Murphy
44 Posted 19/12/2024 at 11:41:11
“That's why our immediate priority is stabilising the club and improving results on the pitch.”

Let's just get this done and ram those “Best stadium in the Championship” jibes down the gobshites' throats!
UTnewFT

Andy Crooks
45 Posted 19/12/2024 at 11:41:26
Sean, really??? Who is this " source"?
Steve Brown
46 Posted 19/12/2024 at 11:42:40
Sean @ 42, my happiness has just dipped if that is true.

It was noticeable though that Thelwell and Dyche were mentioned in Moshiri's statetment, but not referenced in any of those from TFG.

Sean Kearns
47 Posted 19/12/2024 at 11:42:40
No questions please.
Sean Kearns
48 Posted 19/12/2024 at 11:44:01
Dan Ashworth likely incoming too
Steve Brown
49 Posted 19/12/2024 at 11:47:22
John @ 34, TFG have paid off the A-CAP/777 loan. Reportedly they paid £60 million of the £200 million loaned.

777 agreed it as an unsecuritised loan but some posters were claiming that it would prevent the sale. That was never the case.

Steve Brown
50 Posted 19/12/2024 at 11:48:28
Nah Sean, now I am sceptical of the whole thing.
Nigel Scowen
51 Posted 19/12/2024 at 11:50:31
Sean @ 42

Don’t ruin it Sean!

Ernie Baywood
52 Posted 19/12/2024 at 11:50:55
If you buy a business and then run that business dreadfully then you lose money. That's just what happens. Expensive mistake by Moshiri - shit happens.

I hope this lot make a fortune out of us by running us successfully and eventually selling us when we're in a great position.

I know what I'd do first. And conveniently right before the transfer window opens.

Fred Quick
53 Posted 19/12/2024 at 11:52:00
I think that Moshiri should be thankful that the Evertonians rallied round the team during some really tough times out on the pitch. We may have unrealistic expectations at times and put our players under pressure on occasions, but without those Evertonians giving the maximum support at crucial times, it's unthinkable what may have happened to the club in the last few years.

I'm hoping that the new guys make good decisions on all fronts, and that the team responds with better results on the pitch. I'm also hoping the only thing we debate on here is the merits of the staff and players, and we don't have to consult any financial or legal dictionaries in order to understand what may be happening at our club.

Everton x Opponents y is the most important aspect for us as supporters and it should be one of the highest priorities for the new people too.

Everton supporters finally get what they deserve as true story of Farhad Moshiri era emerges

Andrew Merrick
54 Posted 19/12/2024 at 12:02:40
With regard to a new stadium sponsor...

I wonder if the Toyota logo could be paired with blue lettering instead of red?

Sam Hoare
55 Posted 19/12/2024 at 12:03:26
Great news. Improving things off the field should be relatively easy and re-structuring our debt will be a massive help straight away.

On the field is trickier. Will be interesting to see how long TFG give Dyche. May well depend on results over Xmas. I actually don't think there are many more obvious targets than Graham Potter who has already done in the PL exactly what we currently require. He took a dour Brighton team that was struggling with relegation battles and with relatively small investment turned them into one of the better teams to watch in the league whilst taking them from 17th under Hughton to 9th in 3 seasons.

We can't expect to become European contenders overnight. Better football and moving back to a stable mid-table team must be the aim over the next 2-3 years. I can't think of too many managers who have already achieved that in the PL in recent times. Perhaps Iraola and Thomas Frank, but not sure they'd be easy to get.

Jimmy Salt
56 Posted 19/12/2024 at 12:24:34
They say its always darkest before the dawn and boy has it been gloomy. But the stars are aligning and just in time for the Winter Solstice brighter days are ahead of us.

Personally, I would've let Dyche go last season but Everton over the last few years has been a convoluted beast and who is to know what has been going on behind the walls.

Now I think continuity may be best, get us over the line Sean and start afresh in the Spring, the time of renewal, rebirth and regrowth?


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