Everton and The Friedkin Group have reached an agreement for the purchase of the club, per an official statement. The American consortium is set to acquire Farhad Moshiri’s 94.1% stake in the Liverpool-based club. The deal still needs to be approved by the Premier League and Football Association but will likely be given the all-clear.
Everton Have A New Owner In The Friedkin Group: What Does It Mean Going Forward
Friedkin Vision For Everton
In the joint statement released a spokesperson for The Friedkin Group said: “We are pleased to have reached an agreement to become custodians of this iconic football club. We are focused on securing the necessary approvals to complete the transaction. We look forward to providing stability to the club…”
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Stability will be the first port of call for the new owners after the well-documented unrest at Goodison Park. Manager changes, relegation battles and financial issues have become a mainstay under Moshiri. The Texas-based group will have their hands full to turn this around while the team finds itself at the bottom end of the table once again this season.
Friedkin The Best Result For Everton
The Friedkin Group was previously given a period of exclusivity to purchase The Toffees in June before pulling out of the race. Other suitors have included 777 Partners and current Crystal Palace minority owner John Textor.
777 Partners have been embroiled in multiple financial issues, resulting in the firm being unable to purchase the club after being given a period of exclusivity. Everton still owes the Miami-based firm around £200 million, set to be paid by the new owners. Textor has also been scrutinised for his handling of Olympique Lyon’s financial situation. The French side found itself in financial fair play issues just one year after the American took ownership of the club.
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Contrary to this Friedkin has righted the ship at AS Roma. After taking over in 2020 he has gotten them back to financial security. During his tenure the team also has experienced European success, winning the Europa Conference League alongside making a Europa League final. His experience with a historical side that is in financial turmoil should give Evertonians a glimmer of hope that hasn’t been seen for some time under Moshiri.
What Multi-Club Ownership Could Mean For Everton
Everton will join Roma in a unique situation in world football. While multi-club ownership is becoming a popular model for owners, no group has gathered two teams of this size. Both parties are mainstays in their leagues and have been historically successful.
Neither fanbase will sit by if one is to become a ‘feeder’ for the other and Friedkin will know this. The group will look to move both clubs up in their respective leagues and create an environment for success.
Both teams will benefit from an extended scouting network as well as potential player movements between the two. While it seems like a long way off, if The Toffees are to ever find themselves back in Europe they could face issues with UEFA’s policy stopping two sides in their competitions having the same majority owner. But that is a dilemma that many Blues would love to have after the tumultuous last few seasons.
