Everton officially under new ownership as The Friedkin Group completes takeover

The Friedkin Group has finalized its acquisition of Everton Football Club, marking the end of Farhad Moshiri's tumultuous tenure.

The takeover, valued at over £400 million, secures 99.5% ownership for the Texas-based group, led by chairman Dan Friedkin.

With this move, Everton becomes the 10th Premier League club under majority American ownership.

The deal, initially agreed upon on September 23, received regulatory approval, with the Premier League giving the final green light.

Friedkin, who also owns Italian Serie A club AS Roma and boasts a net worth of £6.16 billion, has been proposed as chairman of Everton's board, while Marc Watts, president of the Friedkin Group, will serve as executive chairman, overseeing the club's management.

In an open letter, Friedkin expressed his enthusiasm for the historic club: "I take immense pride in welcoming one of England's most historic football clubs to our global family, the Friedkin Group.

Everton represents a proud legacy, and we are honoured to become custodians of this great institution.

Whilst we are new to the club, we fully understand the vital role Everton plays in local culture, history, and the lives of Evertonians here and around the world."

The takeover concludes Moshiri's involvement with Everton, which began in 2016 when he acquired a 49.9% stake before increasing it to 94.1% by 2022.

His tenure was marked by inconsistent performances, with the club finishing in the bottom half of the Premier League for the past three seasons.

Currently, Sean Dyche's team sits in 16th place in the league, continuing their struggle to avoid relegation. Everton face second-placed Chelsea at Goodison Park this Sunday, where representatives of the Friedkin Group are expected to be in attendance.

Fans will be eager to see how the new ownership plans to restore stability and competitiveness to the club while preserving its rich history and connection to the local community.