Friedkin Group completes 98.8% purchase of Everton

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The Texas-based Friedkin Group has finalized its 98.8% acquisition of Premier League club Everton, marking the end of a turbulent period for the storied team.

The move adds Everton to the group’s diverse portfolio, which includes Italian club Roma and investments in industries ranging from automotive to entertainment.

Led by Dan Friedkin and his son Ryan, the Friedkin Group made its fortune through the distribution of Toyotas in Texas and now takes over from Farhad Moshiri’s Blue Heaven Holdings, Everton's previous majority shareholder.

Marc Watts, Everton's incoming executive chairman, expressed pride in the acquisition, stating, “Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club. We are committed to leading Everton into an exciting new era both on and off the pitch.”

The acquisition, finalised after passing the Premier League’s owners’ and directors’ test, comes as Everton finds itself in a period of uncertainty, sitting 16th in the league standings and without a major trophy since 1995.

The club is also preparing to leave Goodison Park at the end of the season for a new stadium.

With this deal, Everton becomes the 10th Premier League club to come under majority American ownership. The club’s next match is against Chelsea this Sunday, as they look to navigate a difficult season.