NEW DELHI: The Texas-based Friedkin Group has finalized its acquisition of a 98.8% stake in Everton Football Club, adding the prestigious Premier League team to its diverse portfolio of investments spanning various industries, including the Italian club Roma.
This development marks the end of a prolonged period of uncertainty for Everton, a nine-time English champion that has maintained its presence in the top division since 1954 but has not won a major trophy since 1995.
The Friedkin Group, fronted by Dan Friedkin and his son Ryan, boasts a wide-ranging investment portfolio encompassing the automotive industry, entertainment, hospitality, and sports sectors. The Friedkins amassed their fortune through the distribution of Toyota vehicles in Texas.
The acquisition sees the Friedkin Group take over from Farhad Moshiri, Everton's previous majority shareholder.
The Premier League has approved the purchase following the successful completion of its owners' and directors' test, a standard procedure to ensure the suitability of new owners.
Currently, Everton occupy the 16th position in the 20-team Premier League standings. The club's fortunes on the field have been inconsistent in recent seasons, with the last major trophy coming in 1995.
The Friedkin Group's acquisition of Everton adds to their growing sports portfolio, which already includes the Italian club Roma.
Their diverse business interests and financial resources are expected to provide stability and support for Everton's long-term ambitions, both on and off the pitch.
As the new owners take charge, Everton supporters will be hoping for a renewed sense of direction and investment to help the club regain its former glory and compete at the highest levels of English and European football.
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