LONDON — An investment group led by U.S. billionaire Dan Friedkin has agreed to purchase Everton F.C., potentially concluding a prolonged period of uncertainty for the English Premier League soccer club.
The deal is pending regulatory approval from the EPL, the Football Association, and Britain’s Financial Conduct Authority. A spokesperson for The Friedkin Group, a privately held consortium of businesses with Chairman and CEO Dan Friedkin at the forefront, expressed satisfaction in reaching an agreement to take over the renowned football club. The spokesperson emphasized the group’s goal of obtaining the necessary approvals to finalize the transaction and their commitment to providing stability to the club. Part of their vision includes completing the new Everton Stadium at Bramley-Moore Dock.
The acquisition involves a 94% stake in the club currently held by Farhad Moshiri, a British-Iranian businessman. Moshiri initially purchased a 49.9% share of Everton in 2016 and increased his stake with a £100 million capital injection.
Despite Moshiri’s financial contributions, Everton — established in 1878 — has struggled in recent years and narrowly avoided relegation from the EPL multiple times. Currently positioned 19th out of 20 teams in the EPL, the club has yet to secure a victory this season. Last season, it faced a points deduction for breaching Premier League financial regulations.
The club has attracted interest from various potential buyers recently, including U.S. private equity firm 777 Partners and American businessman John Textor. Earlier this year, The Friedkin Group had initially agreed in principle to purchase Everton but withdrew from negotiations due to unresolved issues.
Dan Friedkin, who also owns the Italian Serie A team Roma, is reported by Forbes to have a net worth of $7.6 billion.
