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The Friedkin Group, owned by U.S. billionaire Dan Friedkin, has completed its acquisition of Everton Football Club, the company announced Thursday. The deal, finalized after securing regulatory approvals, signals a fresh chapter for the historic club, which has faced financial struggles and near-sale controversies in recent years.

Regulatory Approvals Finalized

The acquisition, conducted through The Friedkin Group's Roundhouse Capital Holdings Ltd., received approvals from the Premier League, Women's Professional Leagues Ltd., the Football Association, and the Financial Conduct Authority.

Marc Watts, the incoming executive chairman of Everton, emphasized the group’s commitment to financial stability and long-term growth.

"Providing immediate financial stability to the club has been a key priority, and we are delighted to have achieved this," Watts said. "While restoring Everton to its rightful place in the Premier League table will take time, today is the first step in that journey."

Strategic Vision for Everton

The Friedkin Group outlined its vision for Everton, including:

• Strengthening the men’s first-team squad through strategic investment.
• Developing homegrown talent via Everton’s Academy.
• Enhancing the women's team’s on-pitch and commercial strategy.
• Maintaining the club's community-driven initiatives.

"Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club," Watts added.

Dan Friedkin is set to become chairman of Everton’s board, while Watts will oversee the club's management as executive chairman. Additional board appointments are expected to be announced in the coming weeks.

Previous Challenges and Failed Sale

The takeover concludes a tumultuous period for Everton, which has struggled financially in recent years and faced sanctions from the Premier League Independent Commission. The club’s proposed £550 million sale to 777 Partners LLC fell through earlier this year due to legal and financial concerns surrounding the Miami-based private equity firm.

Outgoing majority shareholder Farhad Moshiri expressed optimism about Everton's future under Friedkin’s stewardship.

"I truly believe that the transaction with The Friedkin Group is the best outcome for the club and its future success," Moshiri said. "I now hand over to new owners confident in the outlook for the club and that our incredible fans will see the success on the pitch that they so thoroughly deserve."

Building for the Future

The Friedkin Group’s acquisition comes amid ongoing construction of Everton’s new stadium, part of a broader effort to stabilize the club’s finances and enhance its competitiveness in the Premier League.