US media tycoon Dan Friedkin’s acquisition of Everton FC has been approved by the Premier League.
The club confirmed it has been acquired by Roundhouse Capital Holdings Limited, an entity within The Friedkin Group (TFG), following an agreement between former owner Farhad Moshiri’s Blue Heaven Holdings (BHH) and Roundhouse for the sale of BHH’s majority stake in the club.
The deal received the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association, and the Financial Conduct Authority.
Marc Watts, incoming Executive Chairman of Everton FC, said: “Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club.
“We are committed to leading Everton into an exciting new era both on and off the pitch. Providing immediate financial stability to the club has been a key priority, and we are delighted to have achieved this. While restoring Everton to its rightful place in the Premier League table will take time, today is the first step in that journey.”
Farhad Moshiri said: “I truly believe that the transaction with The Friedkin Group is the best outcome for the club and its future success.
“There has been a huge team effort in getting to this stage and I would like to personally thank my board colleagues John Spellman and Colin Chong and all the senior management team including Katie, James, Richard and of course Kevin and Sean for their huge commitment to the club.”
He added: “Despite a challenging geopolitical backdrop, a significant amount has been achieved over the last couple of years including the delivery of a new sporting department, the stabilisation of our finances and the delivery of our 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.”
Dan Friedkin, Chairman and CEO of TFG, is proposed to be Chairman of the board. He has appointed Marc Watts to serve as Executive Chairman, who will be responsible in this role for the management of the club.
Ana Dunkel, TFG’s Chief Financial Officer and Colin Chong, the club’s interim CEO, will also serve on the board. Additional appointments will be made in the coming weeks.
TFG said its vision for Everton focuses on building a sustainable and successful future. Key priorities include:
* Strengthening the men’s first team squad through thoughtful and strategic investment.
* Cultivating home grown superstars through Everton’s Academy.
* Fostering a distinct on-pitch and commercial strategy for the women’s team.
* Respecting the club’s traditions and keeping Everton at the heart of the community.
* Maximising the potential of the new stadium through long term commercial partnerships and events that benefit the city of Liverpool.
* Enhancing Everton’s reputation as a unique and historical name in world football.
In view of recent changes to the Premier League’s shareholder loan regulations, Everton took proactive steps prior to the transaction’s completion.
These included increasing the club’s share capital to convert outstanding debt owed to BHH into equity, thereby facilitating additional equity investment from Roundhouse.
With this acquisition, TFG said it is committed to delivering a strong and sustainable future for Everton, restoring its competitive stature and maintaining its deep connection with fans and the community.
Confirming its approval of the deal today, the Premier League board revealed that TFG now owns 98.8% of Everton, after successfully passing the league’s Owners’ and Directors’ Test.
It said: “Having been agreed by the board, the takeover has now been ratified by an Independent Oversight Panel.
“The club’s new owners and directors have also signed the Premier League’s Owners’ Charter.
“The Premier League now awaits confirmation of the satisfactory completion of the transaction.”
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