American Stake Grows in Premier League: Friedkin Group Acquires Everton

The Friedkin Group has taken over Everton FC, making it the latest Premier League team with American majority ownership. The deal, valued at over £400 million, marks the end of Farhad Moshiri's turbulent tenure. The new ownership aims to stabilize the club, enhance its squad, and ensure future success.

The Premier League has seen another shift in ownership as the Texas-based Friedkin Group finalized its acquisition of Everton FC, making it the tenth team predominantly owned by Americans. The deal, estimated at over £400 million, marks an end to Farhad Moshiri's tumultuous reign at the storied club.

The Friedkin Group, owned by Dan Friedkin and his son Ryan, had earlier sought to finalize the purchase in June. Now, with the acquisition complete, the group is set to bring ambitious changes to Everton. Their portfolio includes the Italian club Roma, alongside investments in automotive, entertainment, and hospitality sectors.

Moshiri's departure means an overhaul not just in ownership but also in strategy. The British-Iranian businessman faced criticism for extravagant spending, financial mismanagement, and frequent managerial changes. The Friedkins now aim to stabilize Everton's finances, complete the new stadium, and improve on-field performances.

(With inputs from agencies.)