New dawn: Roma's US owner Dan Friedkin set to buy Everton
Dan Friedkin, owner of Serie A giants Roma, is poised to take control of Premier League club Everton, following an agreement with current majority shareholder Farhad Moshiri. This move, which has garnered significant attention, marks a potential turning point for Everton. It also promises new financial stability and a fresh strategic direction.
Farhad Moshiri, who has been the majority shareholder of Everton since 2016, initially explored selling his 94.1% stake to Miami-based investment group 777 Partners. The agreement, made in September 2023, anticipated a swift conclusion by the end of the year.
However, the deal faced delays as 777 Partners struggled to meet the Premier League’s stringent conditions. But by May 2024, the agreement expired. This prompted the Toffees to acknowledge the financial support provided by 777 Partners while ending the exclusivity of their negotiations.
With the collapse of the deal, Moshiri has been free to consider other potential buyers. Enter Dan Friedkin, the Texas-based billionaire with an estimated net worth of $6.1 billion. Sky Sports reported Friedkin’s interest in Everton, and his offer has now been accepted, placing him at the forefront of a new era for the club.
Who is Dan Friedkin and what can he bring to Everton?
Dan Friedkin, who acquired the Giallorossi in 2020, has demonstrated a keen interest in expanding his sports portfolio. His tenure in Italy’s capital has been far from memorable. There have been multiple contentious decisions. This includes the high-profile appointment of manager Jose Mourinho.
The American’s vision for Everton includes a multi-club ownership model, with both Roma and Everton positioned as flagship entities within his sports empire.
The agreement with Moshiri will be complete within 48 hours, granting Friedkin a period of exclusivity to finalize the purchase. The deal, valued at approximately $508 million, is seen as a straightforward transaction given Friedkin’s substantial financial resources and his track record in sports management.
Everton have faced significant challenges under Moshiri’s ownership. The British-Iranian businessman has invested nearly $823 million in transfers. Nonetheless, the club has struggled to maintain its position in the Premier League, often battling relegation. Things got worse for Everton due to breaches of profit and sustainability rules, resulting in points deductions and further instability.
Friedkin’s takeover will hopefully bring much-needed financial stability and strategic clarity. His experience with Roma suggests a commitment to long-term growth and development. It could help the Toffees navigate the competitive landscape of the Premier League more effectively. Additionally, the potential for intercontinental collaborations, including friendly matches between Roma and Everton, could enhance the club’s global profile.
Club to finally finish Bramley-Moore Dock
The news of Friedkin’s bid has already caused a ripple effect among other potential buyers. A consortium led by London-based businessman and lawyer Vatche Manoukian, which included a Saudi royal and other high-net-worth families, withdrew from the process following Friedkin’s advancement.
This consortium expressed a commitment to finding new opportunities in sports investment but acknowledged the need for a swift and effective transition for Everton.
The Toffees’ fans, who have endured a tumultuous period of uncertainty, can look forward to a new chapter. The club will also move to a new stadium at Bramley-Moore Dock for the start of the 2025-26 season. It is a development that aligns well with the fresh investment and strategic direction promised by Friedkin.
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