The Friedkin Group, based in Texas, has successfully acquired a 98.8% stake in Everton, a renowned Premier League club, marking a significant addition to their diverse investment portfolio that includes Italian team Roma. This acquisition brings an end to a period of uncertainty for Everton, a club with a rich history as a nine-time English champion that has been a constant presence in the top division since 1954 but has not secured a major trophy since 1995.
Fronted by Dan Friedkin and his son Ryan, the Friedkin Group boasts investments across various sectors such as automotive, entertainment, hospitality, and sports. The Friedkins amassed their wealth through the distribution of Toyotas in Texas. They take over from Farhad Moshiri, Everton's previous majority shareholder since 2016, who despite significant financial investments in players, failed to bring success to the club.
Dan Friedkin expressed pride in welcoming Everton to their global family, acknowledging the club's esteemed legacy and expressing their honor in becoming its custodians. Currently, Everton sits in 16th place in the Premier League and faces the challenge of avoiding relegation from one of the most lucrative soccer leagues in the world.
While there may be apprehension among Everton fans regarding the Friedkins, who have been relatively silent since acquiring Roma and have made controversial management decisions, the sale signifies the end of the Moshiri era, which did not live up to expectations. Everton has been experiencing financial difficulties, prompting the sale, with the club set to move to a new state-of-the-art stadium at Bramley-Moore Dock.
The Friedkins have already injected capital to ensure the completion of the new stadium and have outlined goals to strengthen the team and enhance Everton's reputation in world football. The new executive chairman, Marc Watts, emphasized the group's commitment to stabilizing the club and improving on-field performance.
Moshiri expressed confidence in the club's future success under the new ownership, highlighting achievements such as the new sporting department, financial stabilization, and the upcoming stadium. He believes that Everton's dedicated fans will witness the success they deserve on the pitch.
