Everton reaches agreement with Texas-based Friedkin Group over purchase of the Premier League club
The Texas-based Friedkin Group has reached an agreement to buy Premier League club Everton from current owner Farhad Moshiri, the English team said Monday
Everton's long-running takeover saga could soon be over after the struggling Premier League team reached an agreement Monday with the Texas-based Friedkin Group over the purchase of the club.
“We look forward to providing stability to the club, and sharing our vision for its future,” the group said in a statement jointly issued with Everton, which is in 19th place in the 20-team English top flight.
Fronted by Dan Friedkin and his son, Ryan, the group is a consortium of investments in automotive, entertainment, hospitality and sports which includes Italian soccer club Roma in its portfolio. The Friedkins made a fortune distributing Toyotas in Texas.
The group reached an agreement in principle in June to buy the 94% stake of Everton's majority shareholder Farhad Moshiri, but talks were called off a month later. Since then, Everton has been in negotiations with American businessman John Textor, who said at the start of this month he had an exclusivity agreement with the club that was due to expire on Nov. 30.
Earlier this year, a proposed takeover by 777 Partners collapsed as Everton — a nine-time English champion and an ever-present in the top division since 1954 — and Moshiri struggled to find either a buyer or significant outside investment.
Now, Everton and the Friedkin Group said they have reached agreement «over the terms of the sale” of Moshiri’s stake, adding that the deal is subject to approval from English soccer authorities.
“We are pleased to have reached an agreement to become custodians of this iconic football club,” the group said.
Textor's attempts to
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