The Friedkin Group, a Texas-based conglomerate, is in exclusive negotiations to acquire a majority stake in Everton, the Premier League club announced on Friday. The Friedkin Group, which already owns the Italian soccer team Roma, operates across various sectors including automotive, entertainment, hospitality, sports, and adventure.
Everton stated it had attracted “important interest from several highly respected parties” looking to invest in the club. “The club can confirm today that a period of exclusivity has been granted to The Friedkin Group to progress discussions to acquire a majority shareholding in Everton,” read an official statement.
This development follows the collapse of a proposed takeover by 777 Partners earlier this month. The Miami-based private investment firm had reached an agreement in September to buy out Everton’s majority shareholder, Farhad Moshiri, who holds a 94.1% stake.
However, the deal fell through before the deadline. 777 Partners, which owns soccer clubs in Germany, Italy, Belgium, and Brazil, has faced increasing difficulties in both business and sports arenas.
The Friedkin Group also includes Gulf States Toyota, which Forbes reported sold $9.1 billion worth of Toyotas in 2022. Their production company, 30 West, was behind the Martin Scorsese and Leonardo DiCaprio film “Killers of the Flower Moon.”
Additionally, the group purchased Roma for $700 million in 2020, leading the club to win the Europa Conference League in 2022 and finish as runner-up in the Europa League the following year. Their portfolio also encompasses luxury hotels, resorts, golf clubs, and adventure industries.
The Friedkin Group’s mission to “inspire best-in-class experiences that go beyond the ordinary” might offer some optimism to Everton fans despite recent struggles on and off the pitch.
The nine-time English champions have narrowly avoided relegation in the past three seasons and recently reported losses of $112.5 million. Despite two separate points deductions for financial rule breaches last season, Everton maintained their Premier League status and are constructing a new 52,888-capacity stadium set to open next year.
Founded in 1888, Everton was one of the English Football League’s original members and a founding member of the Premier League in 1992. The club enjoyed outstanding success in the 1980s but has not won a major trophy since the FA Cup in 1995.
Frequent managerial changes and substantial spending on transfers, including high-profile managers like Rafael Benitez and Carlo Ancelotti, have not translated to consistent success on the field.
Moshiri, who increased his ownership stake to 94.1% after initially purchasing 49.9% in 2016, cited “rapid changes in the nature of ownership and financing of top football clubs” as his reason for selling. He also noted that the sale would secure the financing necessary to complete Everton’s new stadium.