Everton confirms Friedkin Group takeover

The Texas-based Friedkin Group completed its 98.8% purchase of Everton on Thursday, adding the storied Premier League club to its wide-ranging portfolio of investments including Italian team Roma. There may be some concern among Everton fans about the Friedkins, who have never spoken publicly in the four years since they purchased Roma and are unpopular with supporters after making contentious management changes — including firing Daniele De Rossi, the club’s beloved former captain, this season. “We understand the club has faced significant challenges on and off the pitch for several years,” said Marc Watts, the new executive chairman. “That’s why our immediate priority is stabilizing the club and improving results on the pitch.” Watts said the group has provided an undisclosed injection of capital to ensure the completion of the new stadium, converting most of Everton’s debt either to equity “repaid or refinanced on terms more favorable to the stability of the club.” The new owners said they had six goals, including “strengthening the men’s first-team squad through thoughtful and strategic investment” and “enhancing Everton’s reputation as a unique and historical name in world football.” Moshiri said the sale was “the best outcome for the club and its future success.” “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,” he said.