The Friedkin Group completed the purchase of Everton on Thursday, becoming the tenth American owner of a team in the Premier League. This group, which already owns AS Roma, paid around £400 million (€486 million) to take the majority share in Everton, which until Thursday was owned by Iranian billionaire Farhad Moshiri.

Moshiri, who also had stakes in Arsenal in the past alongside Russian businessman Alisher Usmanov, bought 49% of Everton in 2016 and later increased his share to 94.1% in 2022. Friedkin reached an agreement with Moshiri on September 23 and was waiting to pass the Premier League owners' and directors' test.

"The Premier League has approved the purchase of 98.8% of Everton by the Friedkin Group, once the owners' and directors' test was completed. Once approved by the board, it was also approved by an independent panel," said the Premier League in a statement.

The commitment of the new owners

Dan Friedkin, the owner of the company, will be the president of the club and, in a letter to the fans, expressed that it is "an immense pride" to be part of one of the most historic clubs in English football.

"Everton represents a proud legacy, and it is an honor to be the guardians of this great institution. Although we are new to the club, we fully understand the vital role Everton plays in the local culture and in the lives of fans both here and around the world. We are fully committed to honoring this legacy and making a positive contribution to the economy, community, and people of this great city," said Friedkin.

Everton, which hasn't been relegated to the second division since the 1953-1954 season, is currently in 16th place in the standings and has been struggling in the lower positions of the table for several years. This purchase aims to resolve the financial issues the club has faced for years, due to the pandemic and the loss of sponsors because of the war in Ukraine. These economic problems led to the club receiving two sporting sanctions last season: a 10-point deduction, which was later reduced to six, and another two-point penalty.

"El Everton representa un legado orgulloso y es un honor ser guardianes de esta gran institución. Aunque seamos nuevos en el club, entendemos completamente el rol vital que el Everton juega en la cultura local y en la vida de los aficionados tanto aquí como en todo el mundo. Estamos completamente comprometidos para honrar este legado y contribuir positivamente a la economía, la comunidad y la gente de esta gran ciudad", señaló Friedkin.