Friedkin Group agrees Everton takeover: a new area or more challenges ahead?

Written by on 26th September 2024

Everton owner Farhad Moshiri has agreed to sell his 94% stake in the club to an American consortium.

The American Friedkin Group (TFG) has agreed a £500million deal to buy Iranian owner Farhad Moshiri’s 94% majority stake in Everton Football Club.

The club confirmed the deal via X on Monday: “Blue Heaven Holdings and The Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings’ majority stake in Everton.”

The sale needs approval from the Premier League, the Football Association, and the Financial Conduct Authority- but would see Moshiri gain little from his £750million-plus investment in the Merseyside-based club since 2016. 

Everton has been on the market for quite some time, with its majority shareholder being seemingly desperate to offload his stake, but seeing at least two deals collapse.

Moshiri agreed to sell his stake in The Toffees to Miami-based investment fund 777, but the deal fell through last September.

Then, John Textor, owner of Lyon and investor in Crystal Palace, expressed interest, but Premier League rules prevent ownership in more than one club.

Case Study: Everton F.C. | Exclaimer

 

Everton have experienced financial turmoil over the last few years.

The Covid-19 pandemic, the 2022 Russian invasion of Ukraine (after which the club suspended ties with two of its biggest investors; Russian companies MegaFon and USM Holdings), and the construction of a new stadium in Bramley-Moore Dock (expected to be ready for the 2025/26 season) have combined to create a huge financial strain on the club.

Everton also suffered two separate points deductions in the Premier League in last season’s campaign (an early six-point deduction and a later two-point penalty), both for financial misconduct. 

The Houston-based Friedkin Group is experiencing its own problems with AS Roma, which the US company already owns.

The club, based in the Italian capital, have only one win from five so far this season, and have recently fired their manager, club icon Danielle De Rossi, who had signed a three-year contract as manager with the Italian giants in June.

Roma fans have been protesting the Friedkin ownership, recently displaying a banner in the district of Corviale with the words “Friedkin, we are not in America. Here we will rip your hearts out”.

Everton have also battled relegation from England’s top division each of the last three seasons, and are already struggling in 2024, sitting second-bottom of the Premier League with just one point out of a possible 15.


Current track

Title

Artist

Background