The Friedkin family has taken a “significant step” towards acquiring Everton, according to a report from Financial Times.
The newspaper reported online on 20 June that the Texas-based Friedkin Group has entered “exclusive talks” to buy majority shares of Farhad Moshiri and buy the club in the process.
After several months of uncertainty over the takeover that saw Moshiri terminating deals with 777 Partners, it appears that they had signed an “exclusivity agreement” with Moshiri.
According to three people with knowledge of the matter, the Friedkin family, which also owns Serie A club AS Roma, has secured the exclusivity rights, but the financial details have not been disclosed.
This is only the first step, though. To get the full authority, it requires approval from the Premier League, and it can take months to get the green signal.
Daniel Friedkin, whose net worth is estimated at $6bn by Forbes, entered the picture after Moshiri terminated the deal with 777 Group. There were other interested parties, but Moshiri decided to strike a deal with them, primarily because of their experience of running a successful football club.
Expectations are high from the new owners
Everton are an iconic club with a rich footballing history. In recent years, however, the Toffees have struggled on and off the pitch. Managers have come and gone, players have been bought for ridiculous transfer fees, and the club flirted with relegation for three seasons at a stretch.
In addition, last season, the Toffees were docked eight points for breaching the Premier League’s financial rules.
The new owners’ primary task will be to restore stability to the club, both on and off the pitch. They must allow Sean Dyche to continue the good work he’s doing and help him with funds in the transfer market to bolster the squad.
The Friedkin group have promised to clear up the debts which should enable the club to function smoothly in the long run. Along with the focus on building the new stadium, they have to work on revamping the club’s academy as well.
