Friedkin Group completes Everton takeover with plans and their vision announced

Friedkin Group completes Everton takeover with plans and their vision announced, Christmas has well and truly come early.

This marks a significant moment for the team and its supporters. With this acquisition, the group has outlined several key plans and visions for Everton, expressing intentions to provide stability, aiming to support the club through its transition into a new era.

This includes the completion of the new Everton Stadium at Bramley-Moore Dock, which is seen as a cornerstone for the club’s future development. The group’s statement reflects a commitment to not only manage the club but to also enhance its standing in football both domestically and internationally.

There’s anticipation around a substantial financial injection, with reports suggesting an investment ranging from £400-500 million. This capital infusion is expected to be used for infrastructure improvements, particularly the new stadium, as well as for strengthening the squad in transfer windows, which could revitalise Everton’s competitiveness on the pitch.

Marc Watts, President of The Friedkin Group, will lead the Everton board alongside other group representatives, indicating a direct involvement in the club’s strategic direction. This leadership change could bring new management practices and football philosophies to Everton, potentially drawing from the group’s experience with AS Roma.

There’s a significant focus on reconnecting with the fan base and the local community, ensuring that the club’s identity and heritage remain central to its operations. The transition to new ownership has been met with cautious optimism, with fans hopeful for a period of prosperity and success following years of mixed results under previous management.

The Friedkin Group’s vision extends to elevating Everton’s performance in the Premier League, with aspirations to see the club challenge for European spots and domestic trophies. This involves not only financial investment but also strategic planning in terms of team management, player acquisitions, and youth development.

This takeover represents a pivotal moment for Everton, with the Friedkin Group’s plans centered around long-term stability, growth, and success. The announcement has been met with a mix of excitement and anticipation among Everton supporters, looking forward to a new chapter in the club’s storied history.

Club Statement: Everton Football Club acquired by Roundhouse Capital Holdings Limited, part of The Friedkin Group. 🔵

— Everton (@Everton) December 19, 2024

Dan Friedkin writes to Evertonians following our takeover completion. ✍️🔵

— Everton (@Everton) December 19, 2024

STATEMENT:

Everton Football Club has been acquired by Roundhouse Capital Holdings Limited (Roundhouse), an entity within The Friedkin Group (TFG). The transaction was finalised following an agreement between Farhad Moshiri’s Blue Heaven Holdings (BHH) and Roundhouse for the sale of BHH’s majority stake in the Club.

The deal received the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association, and the Financial Conduct Authority.

Marc Watts, incoming Executive Chairman of Everton Football Club, expressed his enthusiasm:

“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.”

Farhad Moshiri, the outgoing majority shareholder, stated: “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 stabilisation 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.”

DAN FRIEDKIN’S MESSAGE TO EVERTONIANS

Dan Friedkin, Chairman and CEO of TFG is proposed to be Chairman of the Board. He has appointed Marc Watts to serve as Executive Chairman, who will be responsible in this role for the management of the club. Ana Dunkel, TFG’s Chief Financial Officer and Colin Chong, the Club’s interim CEO will also serve on the Board. Additional appointments will be made in the coming weeks.

TFG’s vision for Everton Football Club focuses on building a sustainable and successful future. Key priorities include:

– Strengthening the men’s first-team squad through thoughtful and strategic investment.
– Cultivating home-grown superstars through Everton’s Academy.
– Fostering a distinct on-pitch and commercial strategy for the women’s team.
– Respecting the Club’s traditions and keeping Everton at the heart of the community.
– Maximising the potential of the new stadium through long-term commercial partnerships and events that benefit the city of Liverpool.
– Enhancing Everton’s reputation as a unique and historical name in world football.

In view of recent changes to the Premier League’s shareholder loan regulations, Everton took proactive steps prior to the transaction’s completion. These included increasing the Club’s share capital to convert outstanding debt owed to BHH into equity, thereby facilitating additional equity investment from Roundhouse.

With this acquisition, TFG is committed to delivering a strong and sustainable future for Everton Football Club, restoring its competitive stature and maintaining its deep connection with fans and the community.

Nil satis nisi optimum.

MOSHIRI STATEMENT:

Dear Evertonians,

This will be the last time I write to you, the fans, of this incredibly special football club, as we now complete on the proposed purchase transaction with TFG.

I write with mixed emotions, with a sense of optimism for what the future may hold but also some sorrow when reflecting on the past. The last couple of years have been challenging to say the least for the football club, financially, boardroom change and results on the pitch and of course the loss of our Chairman Bill Kenwright.

I am proud of the way the club has overcome these challenges both internally and with the tremendous support you the fans have given us all. There is of course passion in football, but I really believe that there is nothing to match the passion of Evertonians, and there is nothing like Goodison in full voice such as inspiring the team as you did in the second half against Palace.

When I look back on my eight years as the custodian of this historic club I reflect on how much has changed. We have transformed an ageing playing squad, playing at a historic but small and costly stadium, into a younger team, which will see further strengthening, set to show their talents at a state of the art, 53,000 seat stadium on the banks of the River Mersey. Much effort has gone into creating this iconic stadium, combining the opportunities for a modernisation of the commercial offering while preserving the atmosphere of Goodison. It will be a place for all Evertonians, and the wider community, to enjoy for decades and decades to come.

This has been achieved despite the significant financial impact of the geopolitical events outside of our control, including the illegal Russian invasion of Ukraine, excessive point deductions that were levelled against the club and a changing football environment. We have however come through it together, and that is something I feel real pride in

When I purchased the club eight years ago, I knew it needed to be modernised, both with a new stadium and also at the training ground, which has seen much investment. We also moved to our wonderful head office in the Royal Liver buildings. However, I fully understand that in football that results on the pitch are paramount and over those same years they frankly haven’t been good enough. We brought top class managers like Carlo Ancelotti to the club and who knows where we might have been had he not been lured back to his first love Real Madrid.

Believe me when I say that I truly wanted those results to be better, and I have tried to provide the club with the resources it needed. We enjoyed some memorable moments but sadly too few. However, I believe I will be leaving it in a materially better place than the one I inherited.

I have met the huge costs of those improvements through my ownership, with season ticket prices remaining pretty well the same across my ownership period and I have tried to minimise the impact on fans with our tickets among the most affordable in the PL. I will always remain an Evertonian, this club gets into your blood, and I will be back to watch games from the Everton Stadium stands for many years to come.

It has been a privilege to be custodian and I know you will give Dan Friedkin the same warm welcome you gave me, I think he will be an excellent custodian and I have been impressed with the diligence, professionalism and thoughtfulness of his team. I sincerely wish him the best and I know you will join me in supporting him in every way that you can.

Finally, I would like to send my best wishes to Sean and Kevin and the playing team. I would also like to thank Colin, the executive team and the amazing staff at this great club who work tirelessly and give everything on a daily basis.

Thank you,

Farhad

Here’s how fans reacted as the Friedkin Group completes their takeover Everton with plans and their vision announced…

@Blue_Cav: Don’t run quickly, look at what is good about the club, then find the stuff holing us back and make improvements.

@TheJacko1878: Clear out as many as possible

@v2_AWD: Focus on the academy. Turn it into somewhere that creates players ready to challenge the first team or hold value if moved on. So much shite from the Moshiri years could have been avoided if we had exciting youth options, rather than having to buy overpriced cast-offs

@FTM1042: Delighted for every single Evertonian this morning. 💙😁 you deserve this very special moment & celebrate hard because no fanbase in the world in my opinion deserves this more than Everton for the amount of turmoil Everton has been in for many years it’s finally a new dawn.

@DSteveF: At long last, something to be hopeful about, financial stability and ambition 🙏

@Tony_Scott11: A Christmas present for all Evertonians and hopefully a brighter future 🏟️

@ArdaEvertonian: I read this with tears in my eyes… 8 years of mismanagement, mediocrity and stupidity caused by Farhad Moshiri has come to an end. It is time for the new era and new future. UP THE TOFFEES! #EFC

@EFC_Statto:
#EFC takeover timeline:
15 Sep 2023 – 777 takeover agreed
1 Jun 2024 – 777 takeover falls through
19 Jul 2024 – Friedkin Group takeover falls through
23 Sep 2024 – Friedkin Group takeover reignited following agreement over sale
19 Dec 2024 – Friedkin Group takeover completed

@talking_toffees: Welcome to the Toffees, The Friedkin Group 🔵✨ New owners & new stadium, plenty to be optimistic about. No doubt it’ll take time to see the fruits of their labour, complete culture change needed from top downwards NSNO #EFC #UTFT

@BigRossiRadio: Excited for the new era of @Everton and what the future holds. Thank you to Farhad for his help in acquiring a new stadium and his last few years of cash flow but now we looked ahead with optimism #Everton

@Jasman9: Moshiri taking ownership of @Everton was a coming together of conveniences, we needed investment and he needed a ‘vehicle’ for his funds! It has largely been a disaster both on the pitch/commercially however, the stadium is game changing and we should be thankful for that.

@goatersmotors: Hopefully this will turn your fortunes around. Big club with big history and a loyal fan base. You’ve deserved better, hopefully this is it.

@Spartanblue67: The corpse has been miraculously revived and now has a pulse and chance of life. Let’s hope the recovery to full health is meticulously planned , professionally completed and permanent. 👍💙