Dan Freidkin. (Photo by Kevin Winter/Getty Images)Dan Freidkin. (Photo by Kevin Winter/Getty Images)
Dan Freidkin. (Photo by Kevin Winter/Getty Images) | Getty Images
The Friedkin Group completed their Everton takeover from Farhad Moshiri as a new dawn begins at the club.
The Friedkin Group (TFG) are officially the owners of Everton.
Supporters will be hoping that 19 December 2024 will be a day to cherish in the coming days after the American firm’s takeover was ratified. After several years of turbulence under former majority owner Farhad Moshiri, a new dawn is upon the Toffees.
Moshiri’s era was supposed to transform Everton back to the highest echelons of English football. Instead, the Blues spent the latter years of his reign battling Premier League relegation and concerning financial issues. For those reasons, there will be cautious optimism among fans.
TFG have laid out their plans for Everton, with six key goals. They can, therefore, be held accountable if they do not deliver over a certain amount of time. Patience will be needed with the American firm, headed by Texan billionaire Dan Friedkin.
But they have done all of the things that will satisfy supporters so far. One of those is paying off debts of the club. The heavy-interest loan of £225m debt owed to has been paid off Rights and Media Funding, according to iNews.
And it appears that is correct based on updates on Companies House, with there is a satisfaction of a number of charges. Football finance expert Kieran Maguire posted on X: “Looks as if the new owners at Everton have wasted no time and taken the Barry Scott Cillit Bang approach to loans from Rights & Media Funding by settling them.”
It was reported by Bloombergearlier this month that TFG had been in talks with JPMorgan Chase & Co. about raising debt to help restructure Everton’s current loans. Maguire added that the interest rates on new loans will be ‘a lot cheaper’ than what Rights and Media Funding were charging.
Speaking after the takeover announcement, TFG chairman Friedkin said: “I take immense pride in welcoming one of England’s most historic football clubs to our global family, The Friedkin Group. Everton represents a proud legacy, and we are honoured to become custodians of this great institution.
“The Friedkin Group is a diverse family of companies with a global footprint spanning industries such as sports, automotive, entertainment, hospitality, and adventure. Across all our endeavours, we strive to deliver extraordinary experiences that ignite people’s passions. We are thrilled to bring this ethos to Everton and the Liverpool City Region.
“Whilst we are new to the Club, we fully understand the vital role Everton plays in local culture, history, and the lives of Evertonians here and around the world. We are deeply committed to honouring this legacy while contributing positively to the community, economy, and people of this remarkable city.”
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