Everton’s long ownership saga has come to an end after the club completed its takeover of US firm Friedkin Group on Thursday, the club announced.
The US ownership group took over a 94.1% majority stake in the club held by British-Iranian billionaire Farhad Moshiri, who will move from its long-term home at Goodison Park next season Riverside Stadium.
Everton becomes the 10th American-owned club in the Premier League.
“Today is an important and proud moment for the Friedkin Group as we become trustees of this iconic football club,” the club’s incoming executive chairman Marc Watts said in a statement stated in the statement. “We are committed to leading Everton into an exciting new era on and off the pitch.”
The Friedkin Group also owns Serie A club AS Roma.
The Premier League said the group had been tested by league owners and directors, adding: “Consent has been obtained from the league [Premier League] Board of Directors, the acquisition has now been approved by an independent oversight panel. “
Former Arsenal shareholder Moshiri first bought a 49.9% stake in Everton in 2016. By January 2022, he increased his shareholding ratio to 94.1% by injecting 100 million pounds.
However, the club’s men’s side have endured a tumultuous journey in recent seasons, with their dramatic escape from relegation on the final day of 2023.
The club repeated the feat last season despite being deducted a total of eight points in two separate penalties for breaching profitability and sustainability rules (PSR).
The American owner will also take control of Everton Women, but has also been in the bottom half of the table in recent seasons.
“I firmly believe that a deal with the Friedkin Group is the best outcome for the club and its future success,” Moshiri said.
He added: “Despite a challenging geopolitical backdrop, we have achieved great success over the past few years, including the delivery of a new sports department, financial stability and the delivery of an iconic new stadium.”
“I now hand over the team to new ownership with full confidence in the club’s prospects and that our incredible fans will see on the pitch the success they fully deserve.”
Everton has 15 points after 15 games, ranking 16th in the Premier League. They host Chelsea next Sunday.
