The Friedkin Group has announced an agreement to acquire majority ownership of Everton FC, marking a pivotal move for the club.
- Regulatory approval is still required for the Friedkin Group to finalise the acquisition of Farhad Moshiri’s 94% stake.
- Everton’s external debt has escalated to approximately £600 million, complicating previous negotiations.
- Numerous previous acquisition attempts have failed, including discussions with KAM Group, MSP Sports Capital, and 777 Partners.
- Everton remain winless in their first four games of the season, adding urgency to stability efforts.
The Friedkin Group, owners of the Italian club Roma, have reached a significant agreement to purchase a majority stake in Everton FC. This acquisition, however, is contingent upon regulatory approval, which includes oversight from footballing and financial authorities, as stated in the joint announcement from Blue Heaven Holdings and the Friedkin Group. The prospective owners are committed to securing the necessary endorsements to complete the transaction effectively.
The deal promises to address one of the most significant challenges Everton currently faces – rising external debt. Over the past year, the club’s debt has escalated to nearly £600 million, with £200 million owed to the Friedkin Group itself. Previous acquisition discussions faltered primarily due to these financial burdens. The Friedkin Group has expressed optimism about bringing stability and advancing the club’s strategy, especially with the impending completion of Everton’s new stadium at Bramley-Moore Dock.
Everton’s board has seen multiple failed takeover attempts in recent months, involving various potential investors including the KAM Group, MSP Sports Capital, and Miami’s 777 Partners. Notably, the negotiations with 777 Partners collapsed amid legal accusations of fraud, further complicating Everton’s financial landscape.
Currently, Everton’s football performance mirrors its off-the-pitch struggles. The team has not secured a victory in their initial matches this season, recently achieving only a draw against Leicester City. This precarious start has intensified the need for swift resolution and leadership stability to navigate both the sporting and financial challenges.
The Friedkin Group, with its extensive experience in sports management, particularly with AS Roma, is poised to provide the strategic oversight needed to guide Everton through this turbulent period. Their focus on completing the new stadium and fortifying the club’s financial health stands as a potential turning point for the Merseyside team.
The acquisition of Everton by the Friedkin Group hinges on regulatory approvals, representing a key development in the club’s ongoing saga.
