Everton have announced they have reached an agreement for a takeover.
Blue Heaven Holdings and The Friedkin Group (TFG) have confirmed they have reached an agreement to purchase Farhad Moshiri’s 94 per cent stake in the club.
A joint statement confirmed the two parties had reached an “agreement over the terms of the sale” of the Premier League club. It added: “The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.”
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A spokesperson for The Friedkin Group said: “We are pleased to have reached an agreement to become custodians of this iconic football club.
“We are focused on securing the necessary approvals to complete the transaction. We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.”
(Image: Getty Images)
According to Sky Sports reporter Alan Myers on X, formerly known as Twitter, the purchase could “involve an equity investment of £400-500M into the club”. Posting before the announcement, he added: “Things are moving very quickly, huge change in the situation over the weekend.
“Textor’s agreement was never exclusive, just an understanding with Moshiri, they agreed a certain time to get things done, nothing to do with anything else, just a personal agreement between the two.”
Everton’s takeover saga, which started around 12 months ago, has seen the club’s debts, according to The Athletic, rise to around £600million as they have sought ways to finance everyday running costs and their new stadium project.
(Image: Everton FC via Getty Images)
£200m of that debt is owed to Dan Friedkin, who also owns Italian side AS Roma.
TFG has insisted on its £200m loan being repaid in full before another takeover could be completed, however, they also walked away from talks initially prior to acquiring Italian side Roma four years ago.