Friedkin Group Close to Agreeing a Deal for Everton Takeover With Farhad Moshiri

According to reports from Liverpool, Friedkin Group (TFG) are close to agreeing terms with Farhad Moshiri in order to become majority owners of Everton. The Texas-based firm will buy out Moshiri’s 94.1% controlling stake in Everton, just two months after dramatically pulling out of talks.

Friedkin Group is a consortium of investments in entertainment, automobile, hospitality and investment. The firm also owns Italian giants, AS Roma. Their bid to takeover the Merseyside-based club means that the Friedkin Group are looking to increase their footprint in football. Their recent offer appears to have moved them ahead of a rival bid from fellow American John Textor, who also owns Olympique Lyonnais. This proposed takeover will finally bring an end to Farhad Moshiri’s tumultuous ownership. The British-Iranian businessman brought 49.9% stake in Everton in 2016. By 2022, he had increased his share to 94.1% with a 100-million-pound capital injection. 

However, despite significant investment, Everton’s performances under Farhad Moshiri’s ownership have been consistently underwhelming. His extravagant spending, coupled with the ongoing development of Everton’s new stadium, has left the club in deep financial trouble. Currently, Everton's external debt has soared to €600 million, with €200 million of that owed to the Friedkin Group. That hefty loan could help smooth the finalization of a sale, but this deal has had more twists and turns than a mountain road. 

Last year, Moshiri had agreed a deal with Miami-based investment fund, 777 Partners. But the deal fell through when agreements expired amid delays in meeting the necessary conditions stated by the Premier League. Then the Friedkin Group reached an agreement in June to buy Moshiri’s stake in Everton. However, just a month later, talks reached an impasse due to Everton’s debt. As a result, the Texas-based firm pulled out of the deal in July. 

Now, it finally looks like this saga might come to an end, with both the parties agreeing to terms of sale. However, the deal is subject to approval from English authorities. A spokesperson of Friedkin Group said, “We are pleased to have reached an agreement to become custodians of this iconic football club. We are focused on securing the necessary approvals to complete the transaction. We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock." 

On the football side of things, after narrowly escaping relegation in the last two seasons, Everton have endured another concerning start to the season. After five games, the Merseyside club remain winless. Their first point of the season came against newly promoted Leicester City, but the still remain rooted to the bottom of the Premier League table.

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