British-Iranian billionaire Farhad Moshiri has finally completed a sale of Everton after eight turbulent years
Sport
Updated 10:26, 19 Dec 2024
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Owner Farhad Moshiri faces plenty of issues at Everton
Owner Farhad Moshiri faces plenty of issues at Everton
After eight years, Farhad Moshiri's tenure as Everton owner is over. On Thursday morning, confirmation came through that the takeover of the Blues by The Friedkin Group had finally gone through after the Premier League followed the Football Association and the Financial Conduct Authority in ratifying the purchase.
Moshiri brought new hope to Everton when he became majority shareholder in 2016 and initial lavish transfer spending triggered excitement that the Blues could kick on.
However, a succession of managerial changes, director of football switches and poor recruitment have plunged Everton into crisis.
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In recent years the club have been financially crippled and punished with points deductions for two separate breaches of Profit & Sustainability Rules. The knock-on impact on the pitch has been clear, as the Blues have been involved in three relegation battles in the last three seasons; at the moment Everton are only three points clear of the drop zone.
With Moshiri gone, supporters will be hopeful of initial stability under The Friedkin Group and for eventual success to be strived for from more solid foundations.
But in his last official Everton act, this is what the British-Iranian billionaire had to say to supporters: “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 Cclub.
"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."