The takeover of Everton FC by the group of companies led by US billionaire Dan Friedkin is now complete after months of back and forth. This was announced by the Premier League club on Thursday. A turbulent era under the previous owner Farhad Moshiri has thus come to an end.
Roundhouse Capital Holding Limited, part of the Friedkin Group (TFG), acquired the majority stake of Blue Heaven Holding from the British-Iranian multi-entrepreneur Moshiri. The takeover took place after months of confusion surrounding the debt-ridden club.
In the middle of the year, the takeover of the traditional club by the US investor 777 Partners (known in Germany for its involvement with Hertha BSC) failed. In September, Friedkin had reached an agreement with Moshiri to take over his shares.
The Premier League has now given the complicated transaction the necessary approval. According to the league, the new owners around Dan and son Ryan Friedkin hold 98.8 percent of the total volume. This means that ten Premier League clubs, half of the league, have owners from the USA.
“Exciting new era”
According to the BBC, the Friedkin Group is investing over 400 million pounds (484 million euros) in the former European Cup winner. The club has recorded losses of exactly this amount from 2019 to 2023 alone. The debts are said to total the equivalent of around 720 million euros. Around a third of the liabilities stem from bonds issued by the club to its new owners, who have already owned AS Roma since 2020 (at the time, a package for almost 600 million euros).
“We are determined to lead Everton into an exciting new era both on and off the pitch. The club’s immediate financial stability was an important priority and we are pleased to have achieved this,” said future managing director Marc Watts. Dan Friedkin, a multibillionaire from Texas, said in an open letter: “I am very proud to welcome one of England’s most historic football clubs into our global family. Everton represents a proud heritage and we are honored to become the stewards of this great institution.”
End of chaotic Moshiri era
The previous owner Moshiri joined Everton in February 2016. Under his leadership, the club, which has been in the top English division without interruption since the 1953/54 season, experienced severe financial and sporting turmoil. The former was mainly due to Moshiri’s connection to Russian businessman Alisher Usmanov, whose assets had been frozen by the EU as a result of Russia’s war of aggression against Ukraine. This had far-reaching consequences for the Toffees’ sponsorship deals.
In sporting terms, Everton have had a total of eight different head coaches since 2016, including Carlo Ancelotti, and have only just avoided relegation three times in a row, partly due to the personnel cuts necessitated by their financial situation. Last season, a total of eight points were deducted from the club for violating the Premier League’s financial rules. It is not yet clear whether there will be a third point deduction.
In the current season, the last in the time-honored Goodison Park, the Toffees are again threatened with relegation in the Premier League table as 16th. In the summer of 2025, a new stadium at Bramley-Moore Dock is to be occupied, which is nearing completion and will seat 52,888 spectators.