The sports world is buzzing as the Friedkin Group officially sealed the deal to acquire Everton, marking a groundbreaking moment as they become the 10th American ownership group in the Premier League. This high-stakes move comes with both challenges and opportunities as they aim to reposition the historic club in the competitive landscape of English football.
Friedkin Takes the Helm
This new chapter for the club, which also counts Roma among its assets, sees the Friedkin Group shelling out around £400 million ($486 million) to take majority control from billionaire Farhad Moshiri. Moshiri’s journey with Everton began when he snapped up a 49% stake back in 2016 in collaboration with Russian businessman Usmanov. Following Usmanov’s exit due to the geopolitical fallout from the Ukraine conflict, Moshiri upped his ownership to an impressive 94% in 2022. After reaching an agreement with Moshiri on September 23, the Friedkin Group awaited the green light from the Premier League.
Official Endorsement and Future Goals
Fast forward to today, and the Premier League has granted its stamp of approval for the Friedkin Group to officially own 98.8% of Everton once they cleared the owners’ and directors’ test. The league announced, “Once approved by the board, it was also ratified by an independent panel.” This removes any clouds of uncertainty over the new management.
A Message to the Fans
During this transitional phase, Dan Friedkin, now the club’s chairman, penned a heartfelt letter to Everton fans expressing his excitement over this momentous acquisition. He stated, “It’s an immense pride to belong to one of the most historic clubs in English football.” Friedkin acknowledged the significant role Everton plays in the local community and vowed to honor the club’s deep-rooted legacy while positively impacting the economy and society in the city.
A Club at a Crossroads
Everton, a club with a proud history that hasn’t seen relegation since the 1953-54 season, currently finds itself teetering on the edge of the relegation zone. Sitting 16th in the table, they’ve grappled with subpar performances in recent seasons, narrowly escaping the drop last year despite a hefty eight-point deduction due to financial mismanagement. This new ownership comes with the hope of reigniting a sense of purpose and ambition within the club, not just for survival, but for a return to their former glory.