Sign up to Miguel Delaney’s Reading the Game newsletter sent straight to your inbox for free
Sign up to Miguel’s Delaney’s free weekly newsletter
Sign up to Miguel’s Delaney’s free weekly newsletter
Everton have announced an agreement has been reached for the Friedkin Group to take over the club, purchasing Farhad Moshiri’s 94 per cent majority shareholding.
Here, the PA news agency takes a closer look at the situation and what happens next.
What is the Friedkin Group?
The Friedkin Group is, according to its official website, “a privately held consortium of businesses and investments in the automotive, hospitality, entertainment, sports and adventure industries”. It is led by American billionaire Dan Friedkin, whose involvement in the film industry includes winning a stunt award for his work with a Spitfire in 2017’s Dunkirk. In 2020, his group completed a purchase of Serie A side Roma.
Haven’t we seen them linked to Everton previously?
Yes – in June Everton confirmed they had entered exclusive negotiations with the Friedkin Group over a possible takeover of the club, to whom it had provided an injection of £200million. That came after a deal with Miami-based firm 777 Partners, agreed in September 2023, had collapsed in May.
But then that was off?
A month later, a joint statement from Everton and the Friedkin Group said discussions had ended and that a purchase would not be taking place. It added that Moshiri’s Blue Heaven Holdings maintained a “positive relationship” with the group, which would remain a lender to the club and was “proud to have played a key role in enabling the new stadium to be built”, referring to Bramley-Moore Dock, where Everton are set to move from Goodison Park in time for the 2025-26 season.
What has happened since then?
Another American businessman, John Textor, became the apparent front runner. While Textor was required to sell his 45 per cent share of Everton’s fellow Premier League side Crystal Palace, as recently as two weeks ago he expressed his confidence that everything could be completed before his own exclusivity period with the Toffees expired. Everton subsequently responded by saying that “there remains some work to be done to complete the transaction” with Textor – and 11 days on from that came Monday’s joint announcement that agreement had been reached with the Friedkin Group.
So what happens next?
Before it is sealed, regulatory approval of the deal is required from the Premier League, the Football Association and the Financial Conduct Authority. While it remains to be seen how that process goes, the PA news agency understands Everton expect no issues with it and are envisaging that it could be completed before the end of the calendar year. Liverpool Mayor Steve Rotheram has welcomed the news of the agreement, saying he hopes the club can now “begin to turn the page and move forward” – a feeling no doubt shared by Everton fans.
The Merseyside outfit – of whom Moshiri bought a 49.9 per cent stake in 2016, increased to 94.1 in 2022 – have had a troubled few years, finishing 16th three seasons ago, 17th in 2022-23 and 15th last term, during which they were twice docked points for breaching profit and sustainability rules.
Sean Dyche, boss since January 2023, has overseen four defeats and one draw from five Premier League games so far this term, leaving them second-bottom of the table. In Monday’s statement, a spokesperson for the Friedkin Group said: “We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new stadium.”
Source: independent.co.uk
