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The Friedkin Group has completed its takeover of Everton just in time for Christmas.
Following approval from the Premier League, the Financial Conduct Authority and the Football Association, the takeover has been ratified. The Premier League released a statement to confirm the TFG has acquired the majority 98.8 percent stake in the club.
The Friedkin Group, which also owns Italian club AS Roma, is led by American billionaire Dan Friedkin. Marc Watts is the president of the group and has been appointed the new executive chairman of the Toffees. He released a statement on Thursday morning to address the fans and outline the new vision for Everton.
“We are proud to be the new custodians of your Club. Together, we will usher Everton into a new era, one that is marked by ambition and professionalism. As stewards of Everton, we look forward to showing our commitment to the Club through actions, not words.”
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Who is Marc Watts?
Watts will be responsible for the management of the club and has outlined six main goals The Friedkin Group will be focusing on. He addressed the ‘significant challenges on and off-the-pitch’ Everton have faced in recent years and assured the ‘immediate priority’ is to stabilise the club and improve results on the pitch.
Watts joined The Friedkin Group as president in 2011. Prior to this, he served as the vice chairman of the 700-attorney law firm of Locke Lord LLP. Watts has more than 26 years experience in corporate and securities law, governance and related matters.
He also serves on the board of several companies, including Highland Resources, Inc. and Cabot Oil and Gas. Watts’ net worth is said to be at least $3.2 million (£2.5m) as of August 2021.
What are The Friedkin Group’s plans for Everton?
In his statement, Watts highlighted six main points following The Friedkin Group’s takeover. They are as follows:
- 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
“On the pitch, we have a lot still to fight for this season and our energies are now focused on maximising the remaining time to drive results,” Watts continued. “We’re pleased that Colin Chong has agreed to remain in his interim position while we finalise the appointment of a new permanent CEO, which we will update you on in due course.
“We also want to thank Farhad Moshiri for his cooperation during the transition and facilitating a new start for Everton. The road ahead of us is long and there will be further challenges to come, but we are committed to living by Everton’s motto: nil satis nisi optimum.”
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