The Friedkin Group Set to Acquire Everton from Moshiri

The Friedkin Group has reached an agreement to purchase Farhad Moshiri’s 94% stake in Everton, pending regulatory approval from the Premier League, the Football Association and the Financial Conduct Authority. Valued at over £400 million, this deal leaves Moshiri with minimal returns on his significant investment. The U.S.-based group led by chairman Dan Friedkin, who also owns AS Roma and has a net worth of £5.7 billion aims to stabilize Everton.

They also plan to complete the new stadium at Bramley-Moore Dock. The acquisition marks the end of Moshiri’s turbulent ownership, during which he invested over £750 million since 2016, yet faced significant discontent from fans. Under Moshiri, Everton has struggled finishing in the bottom half of the Premier League for the past three seasons and receiving point deductions for breaching financial rules.

In June, the Friedkin Group initially reached a deal in principle to buy Moshiri’s stake but negotiations fell through due to unresolved financial issues. After various parties attempted to take over including Crystal Palace co-owner John Textor, the Friedkin Group revived talks resulting in this agreement. The group is already a creditor to Everton having injected £200 million which may be converted to equity as part of the transaction.

Friedkin envisions Everton as part of a “multi-club model” alongside Roma, emphasizing the club’s history and fanbase. Despite the acquisition, Friedkin reassured Roma fans that their club remains the primary focus. Moshiri, who has faced challenges including the fallout from the Ukraine crisis had been seeking a buyer for some time.

Everton currently sits joint-bottom of the Premier League and has yet to secure a win this season highlighting the urgent need for change.