By US billionaire Dan Friedkin, owner of Italian football club A.S. Roma, has struck a deal to acquire a 94% stake in Everton F.C., one of England’s most storied Premier League clubs.
The Friedkin Group will buy the club from the current owner Farhad Moshiri. This marks a critical moment for Everton, which has faced years of financial instability and poor on-field performance.
With the deal still awaiting regulatory approval from the Premier League, Football Association, and Financial Conduct Authority, it signals a fresh chapter for the club as it battles relegation threats and aims for long-term recovery.
Friedkin, known for his successful management of A.S. Roma, brings optimism for revitalizing Everton both financially and competitively.
The acquisition includes the 94% stake that Moshiri has gradually accumulated since his involvement with Everton in 2016.
Despite injecting over £100 million into the club, Moshiri has been unable to steer Everton clear of financial troubles.
Last season, the club faced Premier League sanctions for breaching financial regulations, highlighting the urgent need for more robust financial management.
Friedkin’s investment is anticipated to deliver a substantial financial boost.
The billionaire’s involvement could stabilize the club’s finances, aiding its recovery from recent challenges.
The fresh capital may also lead to investment in new players and resources, improving both the club’s performance on the pitch and its overall market value.
Can Friedkin reverse Everton’s fortunes?
Everton currently sits in 19th place in the Premier League, with no victories this season and a looming threat of relegation.
For a club with a proud history, these are tough times.
The arrival of Friedkin’s investment group offers renewed hope for improved management and player recruitment.
His approach, if it mirrors the strategic decisions he made with A.S. Roma, could see Everton take steps toward long-term success.
While the immediate focus will be on lifting Everton out of its precarious league position, Friedkin’s group is also expected to look at the bigger picture, implementing long-term strategies that focus on stability and consistent growth.
Friedkin’s success in managing A.S. Roma could be a template for what he brings to Everton.
Since acquiring Roma in 2020, the club has seen improved financial health, better player development, and an increased focus on long-term growth.
While the challenges of English football are different from those in Italy, Friedkin’s experience in European football management is likely to benefit Everton, offering the club a well-rounded approach to rebuilding.
New stadium at Bramley-Moore Dock
A major piece of Everton’s future lies in its long-delayed new stadium project at Bramley-Moore Dock. Financial difficulties had put the development in jeopardy, but Friedkin’s reported net worth of $7.6 billion positions him well to secure the project’s completion.
The new stadium is expected to modernize Everton’s infrastructure and increase its revenue streams, giving the club an edge in competing at higher levels both domestically and internationally.
Completion of the stadium would not only bring Everton up to par with other top-tier clubs in terms of facilities but also help attract new fans, sponsorships, and increased matchday revenue.
Who else was interested?
Before Friedkin’s agreement, Everton had been linked to several high-profile buyers, including US private equity firm 777 Partners and American businessman John Textor.
Both parties had shown strong interest, but negotiations fell through. Earlier this year, Friedkin’s group was also in talks to acquire the club but initially withdrew after discussions stalled.
The finalization of this deal, subject to regulatory approval, brings clarity to Everton’s ownership future.
The acquisition must still be approved by the Premier League, Football Association, and Financial Conduct Authority.
Once the regulatory bodies give the green light, Friedkin’s group will need to outline its vision for the club, addressing key issues such as player investments, financial recovery, and the completion of the stadium.
Friedkin’s entry into Everton’s ownership is seen as a turning point, with the potential to rescue the club from its current financial and competitive challenges, offering a brighter future for one of England’s oldest football institutions.
The post US billionaire Dan Friedkin to acquire 94% stake in Everton FC: what we know so far appeared first on Invezz
