Dec. 19 (UPI) — The Texas-based Friedkin Group completed its purchase of Everton, the Premier League soccer franchise announced Thursday.
The Toffies were acquired by Roundhouse Capital Holdings Limited, an entity within the Friedkin Group. Blue Heaven Holdings’ Farhad Moshiri agreed to sell his majority stake in the club. The Football Association, Premier League and Financial Conduct Authority officially approved the transaction.
“Today marks a momentous and proud occasion for the Friedkin Group as we become custodians of this iconic football club,” incoming executive chairman Marc Watts said in a news release. “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.”
Friedkin, the chairman and CEO of the Friedkin Group, is proposed as chairman of the Everton board. The new owner said he prioritizes strengthening the first-team through “thoughtful and strategic investment,” cultivating “home-grown superstars” through Everton’s academy, “fostering a distinct on-pitch and commercial strategy” for the women’s team and more.
“I truly believe that the transaction with the Friedkin Group is the best outcome for the club and its future success,” Moshiri said. “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 and all the senior management team including Katie, James, Richard and of course Kevin and Sean for their huge commitment to the club.
“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 stabilization 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.”
The Friedkin Group, a consortium of businesses and investments, also owns Italian Serie A club AS Roma.
Everton (3-6-6) sits in 16th place in the 20-team Premier League, where the bottom three teams at the end of the season being relegated to the Championship, the second tier of English soccer.
The Toffees finished 15th in 2023-24, 17th in 2022-23 and 16th in 2021-22. They finished inside the Top 10 four times in five years between 2016 and 2020.
Their last first-division title came in 1986-87, prior to the foundation of the Premier League.
The Toffees will host Chelsea at 9 a.m. EST Sunday at Goodison Park.