Everton: Friedkin Group agrees deal for takeover of Premier League club

Everton: Friedkin Group agrees deal for takeover of Premier League club

14 June 2024 Off By Total Football News

The Friedkin Group has agreed a deal in principle to complete a takeover of Everton, BBC Sport understands.

Chairman Dan Friedkin, who also owns Roma, is now strong favourite to purchase the Toffees after jumping ahead of four other bidders.

A decision over whether Friedkin wants to exercise the option of buying current owner Farhad Moshiri’s 94% stake could come by the weekend.

American businessman Friedkin, who has a reported net worth of £4.8bn, wants Serie A side Roma and Premier League club Everton to sit at the top of a multi-club model.

Moshiri is now expected to grant the group a period of exclusivity.

Friedkin has moved in front of four rival bidders, including UK-based investment firm Vici Private Finance, MSP Sports Capital, local businessmen Andy Bell and George Downing and a consortium involving a Saudi royal.

Everton finished 15th last season after being docked eight points in total for breaching Premier League financial rules.

They must comply with the Premier League’s profit and sustainability rules by the end of this month.

They are also scheduled to make a payment to US-based firm MSP, who are one of Friedkin’s rival bidders having loaned the club around £158m.

Everton have confirmed their move to a new stadium at Bramley-Moore Dock for the start of the 2025-26 season.

The Friedkin Group took control of Serie A side Roma in 2020 and oversaw the appointment of manager Jose Mourinho the following year.

This article was originally posted on https://www.bbc.co.uk/sport/football/articles/c2qq3v2xqqzo