• Wednesday, July 17, 2024
businessday logo


American businessman and Roma owner Dan Friedkin to buy Everton


Dan Friedkin, the American businessman and owner of Serie A club AS Roma, has agreed with Everton majority shareholder Farhad Moshiri to buy the club. According to Sky Sports, Friedkin’s offer has been accepted by Moshiri.

Previously, Moshiri was in a period of exclusivity with the troubled US investment group 777 Partners until May 31, preventing him from engaging in alternative discussions. Now, Moshiri is expected to grant exclusivity to Friedkin within the next 48 hours.

Friedkin, who acquired Roma in 2020, has an estimated net worth of $6.1 billion (£4.8 billion). He has outpaced four other 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.

The news of Friedkin’s bid led to the withdrawal of the final consortium, led by London-based businessman and lawyer Vatche Manoukian, alongside the unnamed Saudi royal and wealthy families from the United States.

In a statement to BBC Sport, the Manoukian-led consortium expressed their hopes for Everton: “Everton fans deserve to be competing for trophies once again, and we hope this deal delivers success for the club on and off the pitch.

“I want to thank our world-class investors for their support, and we are excited to turn our focus to new opportunities to take great clubs to the next level.”
Everton finished 15th last season after being docked eight points for breaching Premier League financial rules.

Moshiri, a former Arsenal shareholder, first bought a 49.9% stake in Everton in 2016 and increased his stake to 94.1% by January 2022 with a £100 million capital injection.

Despite investing nearly £650 million in transfers since his arrival, Everton has struggled, often battling relegation.

The club must comply with the Premier League’s profit and sustainability rules by the end of this month. Additionally, the Toffees are scheduled to make payments to US-based firm MSP, one of Friedkin’s rival bidders, which has loaned the club around £158 million.

Everton have confirmed their move to a new stadium at Bramley-Moore Dock, set to open for the 2025/26 season.

The Friedkin Group, which took control of Roma in 2020 and appointed manager Jose Mourinho the following year, aims to bring similar success to Everton.