Everton Football Club has confirmed that the long-anticipated takeover deal with The Friedkin Group, owners of Serie A club AS Roma, is officially underway. This marks a significant moment in the club’s history as the new ownership aims to bring much-needed stability and leadership to the Merseyside club. The Friedkin Group has agreed to purchase Farhad Moshiri’s 94% stake in the club, effectively ending more than a year of uncertainty surrounding Everton’s future.
This takeover comes after several failed negotiations with potential buyers, most notably with 777 Partners, who had agreed to a deal earlier this year, only for the agreement to collapse before the deadline in June. Now, with The Friedkin Group stepping in, Everton is poised to embark on a new era, and the deal is expected to be finalized by the end of the calendar year, pending regulatory approval from the Premier League, Football Association (FA), and Financial Conduct Authority (FCA).
A Long-Awaited Breakthrough
The journey to secure new ownership for Everton has been a turbulent one. Majority owner Farhad Moshiri, who has been at the helm since 2016, put the club up for sale over 12 months ago. During his tenure, the club saw significant financial investment, but it failed to translate into success on the pitch. As Everton struggled in the Premier League, Moshiri faced increasing pressure from fans and stakeholders to sell the club and pave the way for new leadership.
Several interested parties emerged throughout the year, including 777 Partners, who came close to completing a deal earlier this summer. However, due to financial and regulatory hurdles, that agreement collapsed, leaving the club in limbo. The uncertainty caused frustration among Everton supporters, who have long called for a change in ownership after several seasons of underperformance.
Now, with The Friedkin Group stepping in, the future looks brighter for the Toffees. The American investment group, led by Dan Friedkin, has a track record of success in European football through their ownership of AS Roma. The Friedkin Group took control of the Italian club in 2020 and has since overseen a period of steady growth, helping Roma become more competitive domestically and in Europe.
— Everton (@Everton) September 23, 2024
Their experience in handling a historic football club, combined with their financial resources, makes them a promising new owner for Everton. In a joint statement, Everton and The Friedkin Group expressed enthusiasm about the future, highlighting their focus on stabilizing the club and completing the long-awaited Bramley-Moore Dock Stadium project.
A Focus on Stability and Vision
One of the key messages from The Friedkin Group’s announcement was their intention to bring stability to Everton. The club has faced numerous challenges both on and off the pitch in recent years. Financial difficulties, inconsistent performances, managerial changes, and struggles with Premier League relegation have overshadowed Everton’s once-prominent status as a top English club.
The Friedkin Group’s expertise in managing Roma, coupled with their experience in other sectors, positions them well to handle the pressures of Premier League ownership. Their immediate focus will likely be on rebuilding the club’s infrastructure, from leadership at the boardroom level to improving the squad’s performance on the pitch.
In addition, The Friedkin Group has emphasized the importance of completing Everton’s new stadium at Bramley-Moore Dock. This project has been in the works for several years and is seen as a crucial element in Everton’s long-term strategy to modernize and boost revenue streams. The stadium, which is expected to significantly increase the club’s matchday capacity and enhance its financial potential, is viewed as a key factor in Everton’s efforts to remain competitive in the ever-demanding world of top-flight football.
Challenges Ahead for The Friedkin Group
While the takeover offers hope for a brighter future, The Friedkin Group will inherit several challenges at Everton. The club’s on-field performance remains a concern, with the team enduring relegation battles over the last two seasons. A rebuilding phase is necessary to return Everton to the upper echelons of the Premier League, and new owners must navigate the complexities of a squad overhaul, managerial stability, and youth development.
Financial stability will also be a key area of focus. Under Moshiri’s ownership, Everton invested heavily in players, but many of those investments did not yield the expected returns. With financial regulations becoming increasingly stringent, The Friedkin Group will need to strike a balance between investing in new talent and adhering to Premier League financial fair play rules.
Additionally, Everton’s supporters will be eager for swift action. After years of uncertainty and underperformance, the fanbase will expect immediate improvements both on and off the pitch. The Friedkin Group will need to ensure that their vision for the club aligns with supporters’ aspirations to see Everton return to its former glory.
The Road to Completion
Despite the agreement being reached, the takeover is not yet fully completed. The deal is still subject to approval from several regulatory bodies, including the Premier League, FA, and FCA. These approvals are standard procedure in high-profile acquisitions of football clubs, and while they are not expected to cause significant delays, the process could take several weeks.
Both parties have expressed confidence that the deal will be finalized before the end of the calendar year, which would allow Everton to move forward with The Friedkin Group’s leadership in place ahead of the January transfer window. This timeline is crucial as it will give the new owners an opportunity to make strategic decisions regarding player transfers and squad reinforcements.
A New Era Begins for Everton
For Everton fans, the news of the Friedkin Group’s takeover is a breath of fresh air. After years of turmoil and uncertainty, there is renewed optimism about the club’s future. The new owners bring with them experience, financial clout, and a vision for stability and growth.
As the 2024/25 season progresses, Everton’s focus will be on steadying the ship and avoiding another relegation scare. With The Friedkin Group’s backing, the club can now look to the future with greater confidence, aiming to restore its status as one of England’s most successful football institutions.
While challenges remain, the arrival of The Friedkin Group signals the start of a new chapter for Everton, one filled with potential and the promise of a brighter tomorrow for the blue half of Merseyside.
