The Friedkin Group has reached an agreement to acquire Farhad Moshiri’s 94% majority stake in Everton.
The deal, however, remains subject to regulatory approval from the Premier League, the Football Association, and the Financial Conduct Authority.
A spokesperson for The Friedkin Group confirmed on Monday: “We are pleased to have reached an agreement to become custodians of this iconic football club. We are focused on securing the necessary approvals to complete the transaction. We look forward to providing stability to the club and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.”
The Friedkin Group initially agreed in principle to purchase Moshiri’s stake in June, but talks stalled a month later after the parties failed to finalize terms.
This followed an earlier failed attempt by Miami-based 777 Partners to secure a deal. In addition, American businessman John Textor, who also owns Crystal Palace, entered into discussions but couldn’t close the deal due to Premier League rules prohibiting ownership of multiple clubs.
The Friedkin Group, led by chairman Dan Friedkin, already has ties to Everton, having injected £200m into the club, which could potentially be converted to equity as part of the purchase. Friedkin, who owns Serie A club Roma, has a net worth of £5.7bn according to Forbes.
The agreement between The Friedkin Group and Moshiri’s Blue Heaven Holdings has been signed, with finances now in place. The group’s due diligence on the club was conducted during their period of exclusivity in June, and concerns about a separate £200m loan from 777 Partners have been resolved.
Moshiri, a British-Iranian businessman, first acquired a 49.9% stake in Everton in 2016 before increasing his holding to 94.1% in 2022. However, the club’s financial struggles were exacerbated by Russia’s invasion of Ukraine, leading Everton to suspend sponsorship deals with USM Holdings, part-owned by Alisher Usmanov. Moshiri eventually resigned as chairman of USM after Usmanov was sanctioned.
Moshiri had previously agreed to sell his stake to 777 Partners in 2023, but the deal fell through after eight months, with the group missing the deadline to complete the takeover.
Under his ownership, Everton endured two separate points deductions last season for breaching Premier League financial rules and are currently joint-bottom of the league with just one point from their first five games. During his tenure, the club saw eight permanent managers and two caretakers in charge of the team.