Friedkin Group have reached an agreement to purchase Farhad Moshiri’s 94% majority stake in Everton.
In a public statement, a spokesperson said: “We are pleased to have reached an agreement to become custodians of this iconic football club.
“We are focused on securing the necessary approvals to complete the transaction.
“We look forward to providing stability to the club and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.”
The group had initially agreed in principle to acquire Moshiri’s stake back in June.
However, negotiations were paused after the parties failed to finalise terms.
This followed an earlier attempt by Miami-based 777 Partners, who were also unable to get anything over the line.
Things are about to change at Everton. #BBCFootball #efc #PL pic.twitter.com/GWhA1yhP1d
— BBC Sport (@BBCSport) September 23, 2024
Dan Friedkin, the chairman of The Friedkin Group, already owns Serie A team Roma.
At one point, American businessman and Crystal Palace owner John Textor entered into discussions to acquire Everton.
However, the talks broke down due to Premier League regulations prohibiting individuals from owning multiple clubs.
The Friedkin Group had previously provided Everton with a £200 million loan, which could potentially be converted into equity as part of the acquisition.
The financial agreement between Moshiri’s Blue Heaven Holdings and the Friedkin Group has now been signed.
However, the deal remains subject to regulatory approval from key governing bodies, including the Premier League, Football Association, and the Financial Conduct Authority.
Due diligence on Everton was completed when the Friedkin Group gained exclusivity in June, and any concerns about the £200 million loan provided by 777 Partners have since been put to bed.
In June, Friedkin had expressed interest in positioning both Roma and Everton at the core of a multi-club model.
But should he finalise a deal to buy the Toffees, he will be entering a difficult situation.
On the pitch, Everton’s struggles continue. Sean Dyche’s team is joint-bottom of the Premier League, having failed to secure a win in their first five matches, earning just one point so far.
