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The Friedkin Group has reached an agreement with Farhad Moshiri’s Blue Heaven Holdings to buy the majority 94% stake in the Everton football club with the deal being subject to regulatory approval from the Premier League, the Football Association and the Financial Conduct Authority. As per the reports in the media, the deal is worth in excess of £400 million, leaving Farhad Moshiri with little return on his investment in Everton, which is going to be the 10th Premier League club with majority American ownership.
Notably, the Friedkin Group is led by Dan Friedkin, the Chairman, who also owns AS Roma, the Italian football club, while boasting a net worth of nearly £6 billion. When the deal between Friedkin Group and Blue Heaven Holdings goes through, the reign of Farhad Moshiri at Everton will be coming to an end after the British-Iranian business tycoon invested nearly £800 million in the Merseyside club since 2016, but despite that, the lack of consistent results made the Everton fans quite unhappy about how he ran the club.
Everton were deducted points due to breaching FFP rules in Premier League last season
In the 2023-24 season of the Premier League, Everton had their points deducted twice due to breaching the Financial Fair Play (FFP) rules of the league, which eventually amounted to eight points after appeal, putting the club in danger of getting relegated at one stage. While Everton have stayed up right throughout the Premier League, which began over 30 years ago, they have finished 15th or below in the last three league seasons.
Moreover, as per the statement on Everton’s website, a spokesperson of the Friedkin Group spoke about the agreement, which read, “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.”
In the ongoing Premier League 2024-25 season, Everton are currently in 19th place with just one draw in five matches, only ahead of Wolves on a criterion.
