The Friedkin Group has completed its takeover of Everton. Official confirmation comes after the group initially agreed a deal with previous owner Farhad Moshiri back in September. Moshiri had owned the club since 2022.
A statement on the club website read: “Everton Football Club has been acquired by Roundhouse Capital Holdings Limited, an entity within the Friedkin Group. The transaction was completed following an agreement between Farhad Moshiri’s Blue Heaven Holdings Limited and Roundhouse for BHH’s majority stake in the club.”
The news brings to an end a long, protracted saga which has resulted in numerous protests from supporters. They are currently in their final season at Goodison Park before moving to their new home at Bramley Moore Dock.
Who will be on the new board?
With the news of the takeover’s completion, a number of appointments to the board have now been confirmed. Dan Friedkin will serve as the club’s new CEO, Marc Watts will be Executive Chairman and be responsible for the day-to-day management of the club.
TFG’s Chief Financial Officer Ana Dunkel and Colin Chong, who has been operating as the board’s interim CEO, will also serve on the board. Further announcements are expected to be made in due course.
In an open letter to supporters, Dan Friedkin said: “I take immense pride in welcoming one of England’s most historical clubs into our global family. Everton represents a proud legacy, and we are honoured to become custodians of this great institution.”
Watts also addressed supporters, saying: “We have provided an injection of capital to ensure completion of the new stadium. The transaction has seen most of Everton’s debt either converted to equity, repaid or refinanced on terms more favourable to the sustainability of the club.”
Who is Dan Friedkin?
San Diego born Dan Friedkin took over as CEO of the Friedkin Group from its founder, his father Tom, at the age of 35, also becoming head of Gulf States Toyota. He also owns a portfolio of luxury hotels and resorts in North America, Europe and Fiji.
In 2019 the Friedkin group took over Serie A side Roma. Under the Friedkin’s ownership, Jose Mourinho was appointed as the club’s manager and the club won the inaugural UEFA Conference League in 2021-22, reaching the Europa League Final the following season.
They have finished sixth in Serie A for the last three seasons but are currently 12th after 16 games. Roma’s women’s team have won Serie A for the last two seasons, completing a league and cup double last season.
Fans hoping for better times ahead
Everton fans will be hoping that the takeover will represent the start of better times ahead after finishing 16th, 17th and 15th over the last three seasons. Last season also saw them incur two separate points deductions for breaching Profit and Sustainability Rules.
It was worth noting that without those points deductions, they would have finished 12th in last season’s Premier League. This season they are 16th in the table after 15 games, three points clear of the relegation zone and with a game in hand on the team’s above them.
At the halfway point of the Women’s Super League season, Everton are ninth in the table on nine points, four clear of the relegation zone. Fans of the club’s women’s team who are concerned about how committed the club’s new owners will be can take encouragement from the success enjoyed by Roma.
The first game of the new era takes place on Sunday when Everton welcome Chelsea to Goodison Park in their penultimate home game of 2024. The Toffees then travel to Manchester City on Boxing Day before rounding out the year by hosting Nottingham Forest.