The Friedkin Group have completed their takeover of Everton, ending Farhad Moshiri’s five-and-a-half year spell as owner of the Goodison Park club, and the new owners will support Sean Dyche
Sean Dyche’s position as Everton manager is secure, despite the club’s recent takeover by The Friedkin Group. The consortium, operating under Roundhouse Capital Holdings Limited, a part of The Friedkin Group, has acquired Farhad Moshiri’s 94.1 per cent stake in the Blues.
While the exact financial details of the takeover remain undisclosed, it’s confirmed that all existing debts have been converted into long-term liabilities. American billionaire Dan Friedkin, who also owns Roma, will continue to support Dyche in his fight to keep Everton in the Premier League, especially with the impending move to their new Bramley Moore Dock stadium.
Director of football Kevin Thelwell, who has significantly cut down the club’s transfer spending and wage bill alongside Dyche, will also retain his position. The primary focus now is to ensure Everton’s survival in the top flight; currently, they sit 16th, just three points clear of the drop zone.
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Dan Friedkin, chairman and CEO of TFG, is set to become Chairman of the Board, appointing Marc Watts as Executive Chairman responsible for managing the club. Other board members include Ana Dunkel, TFG’s Chief Financial Officer, and Colin Chong, the Club’s interim CEO, with more appointments expected in the coming weeks.
Representatives from TFG will be present at Goodison Park for Everton’s next match against Chelsea on Sunday, with further confirmations expected soon.
Watts has expressed that TFG’s ambition is to restore some much-needed stability at Everton after last season’s challenges, including points deductions for failing PSR regulations.
Emphasizing the significance of this turning point, he stated: “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. Providing immediate financial stability to the club has been a key priority, and we are delighted to have achieved this.”
“While restoring Everton to its rightful place in the Premier League table will take time, today is the first step in that journey.”
Former shareholder Moshiri also reflected on his time with the club and the transition, saying, “I truly believe that the transaction with The Friedkin Group is the best outcome for the club and its future success.”
“There has been a huge team effort in getting to this stage and I would like to personally thank my board colleagues John Spellman and Colin Chong and all the senior management team including Katie, James, Richard and of course Kevin and Sean for their huge commitment to the club.
“Despite a challenging geopolitical backdrop, a significant amount has been achieved over the last couple of years including the delivery of a new sporting department, the stabilization of our finances and the delivery of our iconic new stadium.
“I now hand over to new owners confident in the outlook for the club and that our incredible fans will see the success on the pitch that they so thoroughly deserve.”