Roma’s American owners The Friedkin Group (TFG) have agreed a deal to complete the takeover of Everton, subject to regulatory approval.
The deal will reportedly see TFG, an existing Everton lender, purchase current owner Farhad Moshiri’s 94 per cent stake in the Merseyside club.
A joint statement said from Moshiri’s company and TFG said: “Blue Heaven Holdings and The Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings’ majority stake in Everton Football Club.
“The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.”
A spokesperson for TFG added: “We are pleased to have reached an agreement to become custodians of this iconic football club. We are focused on securing the necessary approvals to complete the transaction. We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.”
The latest development represents the latest twist in a long-running but ever-changing takeover saga that began over 12 months ago. In that time, Everton’s external debt has risen to around £600million as they have sought ways to finance everyday running costs and their new stadium project. £200m of that debt is owed to Friedkin, who previously pulled out of takeover talks with Moshiri in July over concerns about the club’s outstanding debt.
TFG will now hope to succeed where others have failed in completing a takeover of the Merseyside club. Moshiri has also previously entered into exclusive talks with the KAM Group, MSP Sports Capital, Crystal Palace part owner Textor and,Miami’s 777 Partners.
All of those deals collapsed, though, most notably with 777, who are now being sued for fraud in New York and have also lent Everton around £200m.
Any deal for TFG to buy Everton remains subject to regulatory approval, which would usually be expected before the end of the year.
Everton have endured another difficult start to the season. Winless in their opening four games, they earned their first point of the season away to promoted Leicester City on Saturday but remain close to the foot of the table.
