Everton’s New Era: U.S. Firm Friedkin Group Takes Over

Everton’s New Era: U.S. Firm Friedkin Group Takes Over

In a significant development for Everton fans and the Premier League, the long-standing ownership saga of the club has finally reached its conclusion. On Thursday, the club announced that the U.S. firm, the Friedkin Group, has completed its takeover. This marks a new chapter for Everton, as the American ownership group takes over the 94.1% majority share previously held by British-Iranian billionaire Farhad Moshiri.

The timing of this takeover is particularly noteworthy as Everton is set to move from its historic home at Goodison Park to a brand-new riverfront stadium next season. This transition is expected to usher in a fresh era for the club, both in terms of infrastructure and ambition.

With this acquisition, Everton becomes the 10th club in the Premier League to be under American ownership. This trend of U.S. investment in English football continues to grow, reflecting the global appeal and financial potential of the league.

Marc Watts, the incoming executive chairman of Everton, expressed his enthusiasm about the takeover in a statement: “Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club. We are committed to leading Everton into an exciting new era both on and off the pitch.”

The Friedkin Group is no stranger to the world of football, as they also own the Serie A club AS Roma. Their experience in managing a top-tier European club could prove invaluable as they take the reins at Everton.

The Premier League has confirmed that the Friedkin Group has passed its league owners’ and directors’ test. The league stated, “Having been agreed by the [Premier League] board, the takeover has now been ratified by an Independent Oversight Panel.”

Farhad Moshiri, who was a former shareholder of Arsenal, initially bought a 49.9% stake in Everton in 2016. By January 2022, he had increased his stake to 94.1% with a £100m capital injection. Despite his significant investment, the club has faced challenges on the pitch.

Everton’s men’s side has been on a rollercoaster ride in recent seasons. They narrowly avoided relegation on the final day in 2023, a feat they repeated last season despite being deducted a total of eight points across two separate penalties for Profitability and Sustainability Rules (PSR) infringements.

The women’s side of the club, which will also be under the control of the American ownership, has similarly struggled, finding itself in the bottom half of the table in recent seasons.

Moshiri expressed his confidence in the new ownership, stating, “I truly believe that the transaction with the Friedkin Group is the best outcome for the club and its future success. Despite a challenging geopolitical backdrop, a significant amount has been achieved over the last couple of years including the delivery of a new sporting department, the stabilisation of our finances and the delivery of our iconic new stadium.”

He added, “I now hand over to new owners confident in the outlook for the club and that our incredible fans will see the success on the pitch that they so thoroughly deserve.”

As of now, Everton is positioned 16th in the Premier League with 15 points after 15 games. Their next challenge is a home game against Chelsea on Sunday.

• Everton’s new ownership by the Friedkin Group marks the 10th Premier League club under American control.
• The club is set to move to a new riverfront stadium next season.
• Everton’s men’s team narrowly avoided relegation in the past two seasons.
• The Friedkin Group also owns Serie A club AS Roma.

With the Friedkin Group at the helm, Everton fans will be hoping for a brighter future, both in terms of performance on the pitch and the overall growth of the club. The new stadium and the fresh leadership could be the catalysts needed to propel Everton to new heights.