Everton will move into its new stadium under new ownership after the Premier League club confirmed that The Friedkin Group (TFG) has completed its takeover.
In a statement released today (Thursday), Everton announced that it has been acquired by Roundhouse Capital Holdings Limited (Roundhouse), an entity within TFG.
The transaction was finalised following an agreement between Farhad Moshiri’s Blue Heaven Holdings and Roundhouse for the sale of the former’s majority stake in the club. The deal is reportedly worth in excess of £400m (€486m/$506m).
The deal has received the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association, and the Financial Conduct Authority. The Premier League confirmed that the takeover has been ratified by an independent oversight panel.
Today’s confirmation comes after Everton announced in September that the takeover deal had been agreed with TFG. The US consortium, which also owns Italian club AS Roma, had seen takeover talks fall through back in July, but new terms were agreed and the deal has now been finalised.
Everton had previously been in talks with US investment fund 777 Partners over a takeover deal, but that deal fell through in June. TFG will assume Blue Heaven Holdings’ majority stake in the club, which will be moving into a new 52,000-capacity stadium on Bramley-Moore Dock next year.
Dan Friedkin, chairman and chief executive of TFG, is proposed to be chairman of the board at Everton. He has appointed Marc Watts as executive chairman, while Ana Dunkel, TFG’s chief financial officer, and Colin Chong, Everton’s interim chief executive, will also serve on the board.
Watts said: “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. While restoring Everton to its rightful place in the Premier League table will take time, today is the first step in that journey.”
Outgoing majority shareholder Moshiri added: “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.”
When the takeover was announced in September, it was reported by The Athletic that Everton’s external debt had risen to around £600m, £200m of which was owed to TFG.
One of the six key priorities for TFG as outlined in Everton’s statement is to maximise the potential of the new stadium through long-term commercial partnerships and events that benefit the city of Liverpool. Everton started work on its new stadium in August 2021 and the project is due for completion by the end of the year before the club moves into the venue ahead of the 2025-26 season.
