The Friedkin Group (TFG) has completed its takeover of Premier League club Everton.
The Friedkin Group, also owned by Roma and headed by an American billionaire Dan Friedkinacquired a majority stake in Everton, ushering in a new era for the Merseyside club and ending Farhad Moshiri’s time in charge at Goodison Park.
Friedkin, who bought Serie A side Roma in 2020, is worth an estimated $6.1bn (£4.8bn).
Executive Chairman Mark Watts said in an official statement. “Today is an important and proud occasion for The Friedkin Group as we become the custodians of this iconic football club.
“We are committed to leading Everton into an exciting new era both on and off the pitch. Securing immediate financial stability for the club has been a key priority and we are delighted to have achieved this.”
“While it will take time for Everton to regain their rightful place in the Premier League table, today is the first step on that journey.”
Moshiri: Best result for Everton’s future
Go out Everton majority shareholder Farhad Moshiri:
“I truly believe that a deal with The Friedkin Group is the best outcome for the club and its future success.
“It has taken a huge team effort to get to this stage and I would like to personally thank my board colleagues John Spelman and Colin Chong, as well as all the senior management team including Cathy, James, Richard and of course Kevin and Sean for their great commitment for the club.
“Despite a challenging geopolitical backdrop, significant funding has been achieved over the past few years, including the delivery of a new sports department, stabilization of our finances and the delivery of our iconic new stadium.
“I now hand over to new owners who are confident in the club’s prospects and that our incredible fans will see the success on the pitch that they fully deserve.”
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Everton picked up a point against Arsenal on Saturday
“A promising new start for Everton”
Sky Sports News reporter Alan Myers.
“So after an 18-month sale process, Everton finally have new owners. It’s been on, it’s off and on again. The Friedkin group’s only interest was to stay around, and then John Textor to come back. The frustration and anxiety of TFG fans has been palpable at times, but that is behind them now, and they can now look forward to a new era, a new stadium. with owners.
“But what future can they expect? It’s fair to agree with supporters that Friedkin’s ownership of Serie A side Roma has been eventful, to say the least. They took over the reigns of the famous Italian club in 2020 , and five.The managers later found themselves on the wrong side of the Serie A table and with a fan base unhappy with the American management so far.
“But then there was a silver lining, thanks to Jose Mourinho’s high-profile appointment, he reached two European finals before leaving the club at the end of the 2023/24 season. They turned to club legend Daniel de Rossi, but he was sacked, leading to the resignation of the chief executive , and his replacement, Ivan Jurić, was also shown the door to the club just four points above the relegation zone The Friedkin Group turned to club favorite Claudio Ranieri to remedy the situation.
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Everton beat Wolves in their last game at Goodison Park
“Many problems inherited in Roma are waiting for them in Everton”. a team that doesn’t allow, a club with a great history and a passionate fanbase hungry to return to the glory days. They won’t spend money on problems, or rightly so, a sensible, balanced evolution that will have a short-term success rate. , but a long-term vision.
“The group has shown a willingness to invest in the playing squad and cut the losses they inherited when they took over in 2020 and they have taken a ruthless approach to decision-making.
“Everton fans shouldn’t expect a revolution in the coming months, I expect a fairly low-key arrival and confirmation period. TFG want to show they have a long-term vision and a plan, but at the same time they realize they have to deal with it. task of keeping Everton in the Premier League.
“The company’s chairman, Mark Watts, will also be a member of Roma’s board, and he will be joined by other existing TFG board members, while interim CEO Colin Chong will remain in the role until the successor’s departure from the previous board and chairman.” Since a lot of hard work has been done by Chong to reduce costs and deal with PSR issues, that work will make the transfer much easier for the new owners. however, they will be coming into a club that needs to change both culturally and in terms of results, the club has had no identity for some time and wants to know where the club sees itself, that is a challenge that the new owners need to address. is to start working immediately and do the right thing too.
“Everton fans are desperate for a fresh start, a stable club and some progress on and off the pitch. The takeover and the new stadium offer an opportunity to build something special at a long-suffering club that has fallen from its former glory over the past 30 years, but under former owner Farhad Moshiri Thanks to millions, they will have a modern stadium, much better financial prospects and some hope for the future. now Friedkin’s groups have an opportunity to make that change, but they also need to be given time to do so.”
