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Monday, July 15, 2024

Another U.S. Takeover? Houston-Based Group in Talks With Everton

  • The Premier League club moved quickly after its latest sale attempt failed.
  • The Friedkin Group, based in Texas, may be Everton’s new owner.
Everton FC owner Farhad Moshiri stands on the pitch at Goodison Park Stadium.
Everton FC

Less than a month after Premier League club Everton announced that a much-maligned takeover attempt by an American investment firm was officially dead, the storied English soccer team says it has another U.S. group ready to become the next owner.

Blue Heaven Holdings, the company through which Farhad Moshiri (above) owns 94.1% of Everton, announced it was progressing discussions with the Friedkin Group about acquiring a majority shareholding in the club. The Houston-based company already owns Serie A side AS Roma and two premier golf courses in the Carolinas, in addition to several automotive groups in the U.S.

The new prospective Everton owner is led by the company’s chairman and CEO, Dan Friedkin, who has a net worth of $6.1 billion, according to Forbes. That’s key because the most recent takeover attempt by Miami-based 777 Partners ran into trouble when the investment firm couldn’t provide audited financial statements to the U.K.’s Financial Conduct Authority. 

Time to Pay Up

Everton was valued at roughly $685 million when 777 agreed to acquire the club, but more recent estimates have projected that total costs could reach closer to $1 billion, when factoring in construction of the new stadium and outstanding debts. Friedkin bought AS Roma in 2020 for around $700 million.

The club said it will continue to operate as normal while it tries to close a deal with Friedkin. Everton finished 15th out of 20 EPL teams this past season, narrowly avoiding relegation following a penalty for breaching financial fair play rules. Everton, which has previously played summer friendlies in the U.S. like many of its counterparts, does not have any matches scheduled Stateside this year.

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