The Texas-based Friedkin Group has finalized its acquisition of a 98.8% stake in Everton, the historic Premier League club, as of Thursday. This purchase adds Everton to the Friedkin Group’s diverse portfolio, which already includes the Italian team Roma.
The acquisition brings an end to a prolonged period of uncertainty for Everton, a club with a rich history as a nine-time English champion. Despite its storied past, Everton has not secured a major trophy since 1995 and has been a fixture in the top division since 1954.
Led by Dan Friedkin and his son Ryan, the Friedkin Group has investments spanning the automotive, entertainment, hospitality, and sports sectors. The family initially built their wealth through the distribution of Toyotas in Texas.
The group takes over from Farhad Moshiri, Everton’s former majority shareholder. The Premier League has confirmed that the purchase was approved after successfully passing its owners’ and directors’ test.
Currently, Everton sits 16th in the 20-team league.
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