Farhad Moshiri’s era as owner of Everton FC is coming to an end as he agrees deal to sell his 94.1% stake in the club to The Friedkin Group. Tony McDonough reports
Everton FC’s long search for a new owner is finally at an end as majority shareholder Farhad Moshiri agrees to sell his majority stake in the club to The Friedkin Group.
Both parties issued a statement on Monday afternoon stating The Friedkin Group had agreed to acquire Mr Moshiri’s 94.1% stake held through his Blue Heaven Holdings Vehicle.
The deal is subject to regulatory approval from the Premier League, the Football Association and the Financial Conduct Authority.
This deal brings an end to Mr Moshiri’s association with Everton. He first bought a stake in the club in 2016. He has spent hundreds of millions of pounds on players, with little success on the pitch to show for it, and on the new stadium at Bramley-Moore Dock.
Mr Moshiri had previously agreed to seek his stake to the US-based 777 Partners in September 2023. However, that deal later fell through.
The Friedkin Group is a privately held consortium of businesses and investments representing billionaire chairman and chief executive Dan Friedkin and his family. The business is based in the US and also owns Serie A side Roma
Monday’s joint statement said: “Blue Heaven Holdings and The Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings’ majority stake in Everton Football Club.
“The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.”
A spokesperson for The Friedkin Group added: “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.
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“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.”
This is Everton’s final season at its historic Goodison Park home with the team set to kick off the 2024/25 football season at its new docklands stadium. It will have a capacity of 52,888 and is costing more than £750m to build.