New Delhi: The US-based Friedkin Group had agreed in principle to takeover the Premier League club, Everton in June following the breakdown in conversations with Miami-based 777 Partners. However, the deal with the Friedkin Group will not proceed after everyone involved failed to reach on an agreement regarding the takeover.
The news was announced via a joint statement released by both, The Freidkin Group and the current owners of the Merseyside club, Blue Heaven Holdings, which said, “The parties agree it is in both their interests for Everton to explore alternative options.” The statement also added, “The Friedkin Group, which injected £200m into the club and paid off a £158m loan to MSP Sports Capital and two local businessmen, will “remain a lender to the club”
The current owner, Farhad Moshiri, who bought a 49.9% share in the club back in 2016, is the club’s majority owner through Blue Heaven Holdings, owning a 94% stake in the Toffees. However, fans have voiced their displeasure with the current owner numerously over sub-par performances on the pitch and also due to the club posting losses of nearly £400m in just the four years between 2019 and 2023.
🚨🔵 Everton announce that talks with The Friedkin Group over a potential sale of a majority stake in the club have ended.
“The Friedkin Group will NOT be progressing with a purchase of the Club”, statement confirms. pic.twitter.com/FLNK1ljSXo
— Fabrizio Romano (@FabrizioRomano) July 19, 2024
These losses affected the performance of the club last season as they were charged twice for breaching the Premier League’s Profit and Sustainability Rules, which saw the club being hit with a deduction of a total of eight points for those breaches, which affected their overall finish in the table. The toffees finished 15th in the league last season with 40 points and without the deduction of points, they would’ve at least finished 12th and maybe even higher given the uncertainty around the club would’ve affected the players’ mood and morale.
Moshiri has been trying to sell the club for a while now but this is the second time that a deal for Everton’s takeover has fallen through in recent years. It was announced in September 2023 that 777 Partners had struck a deal with Moshiri for a takeover of the club, but delays were caused due to the group struggling to meet the Premier League’s ownership conditions. After those struggles, the deal collapsed in June 2024, when 777 couldn’t meet a deadline for the share purchase agreement set by the league.
After the 777 deal collapsed in June, that was when the Friedkin Group, who also own the Serie A side AS Roma, agreed on a deal to take over the club but with that deal also falling through, Everton is back in the same place they were in before September 2023. This isn’t a good situation for a club to be in, with the owner actively trying to offload the club and the fans in disarray.
Meanwhile, Everton have confirmed their move to a new stadium at Bramley-Moore Dock for the start of the 2025-26 season and fans will be hoping that the team’s inaugural game at their new stadium will be under a new ownership.
Friedkin Group were in talks to takeover the Merseyside club but the talks have now been called off after both parties failed to reach an agreement. Football Sports News: Latest Cricket News, Cricket Live Score, Sports Breaking News from Sports Today
