Everton's takeover imminent

Everton’s long-running ownership saga will end next week when the Friedkin Group’s takeover will be finalised.

The US-based group will secure approval from the Premier League to take over the cash-strapped Merseyside club, which will raise questions over the futures of the manager, Sean Dyche, and sporting director, Kevin Thelwell, who are both out of contract at the end of the season.

The Friedkin Group agreed to purchase Farhad Moshiri’s 94.1 per cent shareholding in September and the deal has been subject to the Premier League’s owners’ and directors’ test for the past three months. That process is understood to be near completion.

The group, which also owns the Italian club Roma and is led by the American billionaire Dan Friedkin, was close to agreeing a deal to buy Everton last summer, only to announce it had pulled out because of concerns over loans that the club had taken up with other investors.   More on their stewardship of AS Roma here: https://footballeconomyv2.blogspot.com/2024/12/unhappiness-at-roma-despite-big.html

However, it returned to the negotiating table and struck the deal with Blue Heaven Holdings — run by Moshiri — and is now on the brink of passing regulatory approval from the Premier League.

A valuation of the takeover is complicated. Forbes valued Everton at £597million in 2023, but the Covid-19 pandemic and the spiralling costs of building a new stadium have hit the club hard.

The Friedkin Group has already ­invested in excess of £200 million, to help with the costs of completing the new ground at Bramley-Moore Dock in addition to paying off a £140million loan to MSP Sports Capital and another loan to 777.

Friedkin himself has an estimated worth of £4.8billion. His Friedkin Group comprises automotive, hospitality, entertainment, sports and adventure companies.

Since the group took control of Roma in 2020, the club have won the Conference League, in 2022, and were runners-up in the Europa League the following season under the management of José Mourinho, who was sacked midway through last season.

With Everton moving into their new stadium on the banks of the Mersey next summer, their long-suffering supporters will hope the takeover points to a brighter future after years of financial struggles off the pitch and relegation fights on it.

Moshiri, it is understood, will receive some of his investment back, but the total amount will depend on Everton’s future success.

The move will end his often controversial eight-year reign. Moshiri, 69, has spent more than £600million on players and appointed seven managers: Ronald Koeman, Sam Allardyce, Marco Silva, Carlo Ancelotti, Rafa Benítez, Frank Lampard and Dyche.

But the takeover will also bring doubts over the futures of Dyche and sporting director Thelwell, as well as a number of players who are out of contract in the summer.