Everton Takeover: The Friedkin Group Officially Becomes the Club’s New Owners

The Friedkin Group (TFG) has successfully completed its takeover of Premier League side Everton, marking the end of Farhad Moshiri’s tenure as the majority shareholder at Goodison Park. The acquisition sees TFG securing a 94.1% stake in the club, heralding a new chapter for Everton under the leadership of Dan Friedkin, who also owns Serie A club Roma and boasts an estimated net worth of £4.8 billion.

A New Era for Everton Under Dan Friedkin

The Friedkin Group, headed by American billionaire Dan Friedkin, brings vast experience in sports ownership to Everton. Friedkin, who acquired Roma in 2020, has an impressive track record, albeit with challenges along the way. His wealth, estimated at $6.1 billion (£4.8 billion), positions him among the most affluent figures in football ownership.

Marc Watts, the incoming executive chairman of Everton, expressed enthusiasm about the takeover in a statement: “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.”

Watts also acknowledged the challenges ahead: “While restoring Everton to its rightful place in the Premier League table will take time, today is the first step in that journey.”

Moshiri Reflects on His Tenure

Outgoing majority shareholder Farhad Moshiri described the transaction as the best possible outcome for Everton’s future. He 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, as well as the senior management team, including Katie, James, Richard, and of course Kevin and Sean, for their immense commitment to the club.”

Moshiri also highlighted achievements during his tenure, including the delivery of a new sporting department, financial stabilisation, and progress on Everton’s new state-of-the-art stadium. He added: “I now hand over to the 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.”

A Promising New Beginning?

Sky Sports News reporter Alan Myers described the takeover process as a rollercoaster, spanning 18 months and involving various interested parties. From initial discussions with MSP Sports Capital and 777 Partners to renewed interest from The Friedkin Group, the process has been fraught with uncertainty. However, fans can now look forward to a fresh start.

Myers stated: “It’s been on, it’s been off, and it’s been on again. First, it looked like MSP Sports Capital, then 777 Partners, then John Textor. Ultimately, TFG emerged victorious, and fans can now look forward to a new era, in a new stadium, with new owners.”

Lessons from Roma’s Ownership

The Friedkin Group’s stewardship of Roma offers insights into their management style. Since taking over in 2020, TFG’s tenure at Roma has been eventful. The club has seen five managerial changes, fluctuating fortunes in Serie A, and a fan base divided over the group’s leadership. However, their appointment of Jose Mourinho yielded significant results, including two European finals and one trophy.

Despite these successes, challenges persist. Roma’s struggles with stability led to the appointment and subsequent dismissal of Danielle De Rossi, followed by the resignation of the CEO and the replacement of Ivan Juric, who also departed under difficult circumstances. TFG eventually turned to Claudio Ranieri to stabilise the situation.

Similar Challenges Await at Everton

Everton faces comparable challenges to those encountered by TFG at Roma. The Merseyside club’s proud history and passionate fan base belie recent underperformance on the pitch. With financial constraints, a sensible and balanced approach will be critical. Everton fans should not expect an immediate revolution but rather a measured transition focused on securing the club’s Premier League status and laying the groundwork for sustainable success.

Marc Watts will take on the role of chairman while interim CEO Colin Chong continues in his position until a permanent successor is appointed. Chong’s efforts to reduce costs and address profitability and sustainability (PSR) issues have paved the way for a smoother transition. However, significant cultural and structural changes are required to restore Everton’s identity and strengthen the club’s relationship with its fans.

Fans’ Expectations and the Path Forward

Everton supporters are eager for stability, progress, and a return to glory. The combination of the takeover and the new stadium presents a unique opportunity for transformation. Although the past three decades have seen a decline in the club’s fortunes, Moshiri’s financial investment has laid the groundwork for a brighter future. It is now up to The Friedkin Group to capitalise on this foundation.

TFG’s long-term vision and commitment to a thoughtful evolution of the club are vital. While initial months may involve a period of acclimatisation, fans will look for evidence of progress both on and off the pitch. Delivering success in the Premier League while fostering a renewed connection with the fan base will be paramount.

In the words of Alan Myers: “The takeover and new stadium present an opportunity to build something special at a long-suffering club. The Friedkin Group now has the chance to bring that change, but they also need to be given the time to do it.”

Conclusion

Everton’s acquisition by The Friedkin Group signals a pivotal moment in the club’s history. With financial stability, a modern stadium, and new ownership, the Toffees are poised for a promising future. While challenges abound, the potential for growth and success under Dan Friedkin’s leadership provides a sense of optimism for the Everton faithful. As this new chapter unfolds, the journey towards reclaiming past glories begins in earnest.