The era of Farhad Moshiri has come to an end with the Friedkin Group’s acquisition of Everton.
With the purchase of 99.5% of the team, which is estimated to be valued over £400 million, the Toffees move up to the 10th position in the Premier League with majority American ownership.
With the Premier League having the last say on the purchase, the group and Moshiri came to an agreement on September 23 and were seeking regulatory permission, which has finally been given.
The Texas-based organization, which also owns the Italian Serie A team Roma, is headed by chairman Dan Friedkin. Forbes estimates Friedkin’s net worth to be £6.16 billion.
Marc Watts is the executive chairman, and Friedkin has been suggested as the chairman of Everton’s board.
Watts, the president of the Friedkin Group, will be responsible for the management of the club.
Moshiri, a British-Iranian investor, initially purchased a 49.9% share in Everton in 2016 and then increased it to 94.1% in 2022.
Everton, who haven’t competed outside of the top division since 1953–54, has spent the last three seasons in the Premier League’s bottom half, finishing in 16th, 17th, and 15th place. They are now in 16th place once more.
Friedkin Group representatives are anticipated to attend Sunday’s match between Sean Dyche’s squad and Chelsea, who are currently in second place, at Goodison Park at 14:00 GMT.
