The Friedkin Group has officially completed its acquisition of Everton Football Club, ending Farhad Moshiri’s ownership era. The Texas-based group, led by chairman Dan Friedkin, has secured a 99.5% stake in the club for over £400 million, making Everton the 10th Premier League club under majority American ownership.
The agreement, initially reached on September 23, received final approval from the Premier League. This marks a pivotal moment for Everton, as the new ownership group brings significant financial resources and a long-term vision for success.
Leadership and strategic goals
Dan Friedkin, whose net worth is estimated at £6.16 billion by Forbes, is set to chair Everton’s board, while Marc Watts, president of the Friedkin Group, will serve as executive chairman. Watts will oversee the club’s operations, focusing on financial stability and on-pitch improvements.
The Friedkin Group aims to secure Everton’s future through a sustainable approach, emphasizing investment in the men’s first team, development of academy talents, and growth of the women’s team. A key part of their strategy includes maximizing the potential of Everton’s new stadium, a 52,888-seat venue at Bramley-Moore Dock, scheduled to open next season.
Ana Dunkel, the group’s chief financial officer, will join the Everton board, while Colin Chong will continue as interim chief executive until a permanent replacement is appointed.
A new era for Everton
In an open letter, Friedkin expressed his enthusiasm for the historic club, stating: “We take immense pride in welcoming Everton to the Friedkin Group family. Our commitment to the community, economy, and people of this remarkable city is unwavering.”
Watts echoed these sentiments, describing the acquisition as a “momentous occasion.” He highlighted the group’s immediate focus on stabilizing the club’s finances, much of which has been achieved through debt-to-equity conversions and refinancing under more favorable terms.
Everton’s recent struggles in the Premier League, finishing 16th, 17th, and 15th over the past three seasons, underline the challenge ahead. Currently sitting 16th in the table, the team, led by manager Sean Dyche, will face second-placed Chelsea at Goodison Park on Sunday. Representatives from the Friedkin Group are expected to attend the match.
With the Friedkin Group at the helm, Evertonians hope this marks the beginning of a transformative era, both on and off the pitch.
