Friedkin Group is confirmed as Everton’s new owner

Everton announced on Thursday that the US-based Friedkin Group has completed the takeover of the Premier League franchise.

The team was acquired by Roundhouse Capital Holdings Limited, a business owned by the Friedkin Group, according to Everton.

The Premier League reports that the Friedkin Group purchased a 98.8% stake in Everton, making it the tenth English top-flight team with majority American ownership, ranking among Arsenal, Chelsea, Liverpool, and Manchester United.

The statement on Thursday came after Everton announced in September that, pending regulatory permission, the Friedkin Group had agreed to buy Farhad Moshiri’s majority share in the troubled franchise.

Women’s Professional Leagues Limited, the Premier League, the Football Association, and the Financial Conduct Authority have now granted their permission.

Over £400 million ($506 million) was the price the Friedkin Group paid for Everton, according to the BBC.

Chairman Dan Friedkin is in charge of the Texas-based company, which also owns the Italian Serie A team Roma. Friedkin’s estimated net worth is £6.16 billion, according to Forbes.

The Premier League’s profitability and sustainability criteria (PSR) have resulted in two sanctions against Everton in the past 13 months, and the team lost eight points altogether last season.

A deal was not closed by the American investment group 777 Partners earlier this year.

Before Everton announced that they were in the process of completing a contract with the Friedkin Group, John Textor, who owns 45 percent of Crystal Palace, appeared to be a contender.

As a new stadium is being built, Everton is preparing to leave Goodison Park, where the team has played since 1892.

In the Premier League standings, they are currently in 16th place, just three points above the relegation zone.

Despite overcoming several setbacks to escape relegation in recent years, Everton has remained in the English top division for the previous seven decades.

Over the four years between 2019 and 2023, the Liverpool-based squad posted losses of little under £400 million ($534 million).

Moshiri is a British-Iranian businessman who first bought 49.9% of Everton in 2016 and subsequently raised that stake to 94.1% in 2022.