Everton Football Club has officially turned a new chapter in its storied history, as the long-awaited ownership transition has finally been completed. On Thursday, the club announced that U.S.-based Friedkin Group has taken over the majority stake of 94.1% from British-Iranian billionaire Farhad Moshiri. This significant milestone paves the way for an exciting future both on and off the pitch, as Everton prepares to leave its iconic Goodison Park for a state-of-the-art riverfront stadium next season.
This acquisition makes Everton the 10th Premier League club under American ownership, a growing trend in one of the world's most competitive football leagues. The Friedkin Group, which already owns Serie A club AS Roma, is no stranger to the responsibilities and challenges of managing elite football teams. "Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club," said Marc Watts, the club's incoming executive chairman. "We are committed to leading Everton into an exciting new era both on and off the pitch."
The transition of ownership has been greenlit by the Premier League after the group successfully passed its owners' and directors' test. The league stated, "Having been agreed by the [Premier League] board, the takeover has now been ratified by an Independent Oversight Panel." This regulatory approval underscores the professionalism and diligence of the Friedkin Group as they embark on their journey with Everton.
Farhad Moshiri’s tenure with Everton began in 2016 when he initially acquired a 49.9% stake. By January 2022, his stake had increased to a commanding 94.1%, bolstered by a £100m capital injection. While Moshiri’s time at the helm saw several challenges, he remains optimistic about the club’s future under its new leadership. “I truly believe that the transaction with the Friedkin Group is the best outcome for the club and its future success,” Moshiri said in a heartfelt statement. He went on to reflect on the progress made despite difficult geopolitical circumstances, highlighting the establishment of a new sporting department, financial stabilization, and the near-completion of Everton’s iconic new stadium.
“I now hand over to new owners confident in the outlook for the club and that our incredible fans will see the success on the pitch that they so thoroughly deserve,” Moshiri added. This sentiment resonates deeply with Everton’s devoted fanbase, who have stood by the club through thick and thin, including recent nail-biting battles against relegation. Last season, Everton narrowly avoided relegation on the final day despite facing a significant eight-point deduction due to Profitability and Sustainability Rules (PSR) infringements.
However, the challenges haven’t been confined to the men’s team. Everton’s women’s side has also struggled, languishing in the bottom half of the table in recent seasons. The Friedkin Group’s acquisition encompasses the women’s team as well, providing an opportunity to revitalize both squads and foster a culture of excellence across the board.
As Everton sits 16th in the Premier League table with 15 points after 15 games, the club faces an uphill battle to climb higher in the standings. Their next test comes against Chelsea on Sunday, a match that could set the tone for the rest of the season. Yet, despite the immediate challenges, optimism abounds as the club’s loyal supporters look forward to the transformative changes promised by the new ownership.
The Friedkin Group’s entry marks not just a change in ownership but a profound shift in Everton’s trajectory. With a new stadium on the horizon and a commitment to success on and off the field, this moment represents a fresh start for the Merseyside club. From the new leadership’s vision to the unwavering passion of Everton’s fans, all signs point to an exhilarating era ahead for the Toffees. Here’s to a future filled with ambition, resilience, and perhaps long-awaited glory.
Login