The Friedkin Group have acquired Farhad Moshiri's majority shareholding in Everton
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A general view of a corner flag at Goodison Park before the Premier League match between Everton FC and Fulham FC at Goodison Park on April 15, 2023 in Liverpool, England
(Image: Everton FC via Getty Images)
The Premier League broke its silence on the Everton takeover on Thursday morning by confirming that The Friedkin Group had passed the required owners and directors test.
Confirmation of the completion of the deal for Farhad Moshiri to sell his stake in the football club to the Houston-based firm, run by US billionaire Dan Friedkin, arrived shortly after the Premier League had released its own statement, the takeover ushering in a new era for the Toffees after a tumultuous few years.
Regulatory approval from the Premier League, the Financial Conduct Authority and the Football Association was required to complete the deal, with the Premier League process having been outlined at the start by those close to TFG as expected to take around 12 weeks.
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The tests required TFG to provide proof of funds and a workable business plan for the football club, as well as the League assessing the viability of TFG as owners. No issues were anticipated given the size and reputation globally of the firm.
A statement read: “The Premier League Board has approved The Friedkin Group’s 98.8 per cent acquisition of Everton Football Club, following the completion of the League’s Owners’ and Directors’ Test.
“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.”