Everton Football Club is on the verge of a potential takeover by the Friedkin Group, a US-based firm led by Chairman Dan Friedkin. The group has been granted an exclusivity agreement by current owner Farhad Moshiri, which means they have the opportunity to acquire a majority 94% stake in the club.
The Friedkin Group, which also owns Italian side Roma, is set to undergo due diligence on Everton as part of the acquisition process. However, the deal is contingent on passing the Premier League’s owners’ and directors’ test, as well as receiving approval from the Football Association (FA) and Financial Conduct Authority.
Chairman Dan Friedkin, with a reported net worth of £4.8bn, has expressed his interest in adding a Premier League club to his multi-club model. The appeal of Everton lies in the club’s rich history, loyal fanbase, and the construction of a new stadium at Bramley-Moore Dock.
While both Everton and the Friedkin Group have chosen to remain silent on the matter, it is hoped that the sale will proceed smoothly and swiftly, with a target timeline of weeks rather than months.
Despite the exclusivity agreement, there is no guarantee that the Friedkin Group will ultimately complete the takeover of Everton. Previous agreements with other potential buyers have fallen through in the past, highlighting the unpredictability of such deals in the world of football.
Various other bidders, including UK-based investment firm Vici Private Finance, MSP Sports Capital, and local businessmen, had expressed interest in acquiring Everton. However, the Friedkin Group emerged as the front-runner, with a deal in principle agreed upon in mid-June.
The Friedkin Group’s success with Roma, culminating in Europa Conference League triumph under Jose Mourinho, has added to their allure as potential owners of Everton. Meanwhile, Everton’s recent struggles, including a 15th-place finish in the Premier League last season and points deductions for financial breaches, have put pressure on the club to adhere to league regulations.
The impending move to a new stadium at Bramley-Moore Dock in 2025-26 adds another layer of anticipation for Everton fans, who are eager to see how the club will fare under potential new ownership. The future of Everton hangs in the balance as the Friedkin Group’s acquisition bid progresses through the intricate web of football governance and financial regulations.