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.
