The Friedkin Group Abandons Plans to Buy Majority Stake in Everton

The Friedkin Group has decided to walk away from their plans to purchase a majority stake in Everton Football Club after a period of exclusivity granted to them last month. This decision comes after talks between Blue Heaven Holdings and The Friedkin Group failed to result in a purchase agreement. The Friedkin Group, who already own Italian Serie A club AS Roma, were in discussions to buy a stake in Everton following the collapse of a previous takeover deal with prospective owner 777 Partners.

After the discussions between the two parties came to an end, Everton announced that both Blue Heaven Holdings and The Friedkin Group have mutually agreed to explore alternative options. The club expressed gratitude towards The Friedkin Group for their contribution to the new stadium project and confirmed that the group will continue to act as a lender to the Merseyside club. Despite the unsuccessful negotiations, both parties have maintained a positive relationship moving forward.

It was reported that Miami-based investment fund 777 Partners had entered into an agreement with British-Iranian billionaire Farhad Moshiri to acquire his 94.1% stake in Everton for a deal worth over £550 million ($710m). Farhad Moshiri had initially purchased a 49.9% stake in the club in 2016 and progressively increased his ownership to 94.1% by injecting £100m into the club by January 2022. The anticipated takeover was delayed due to 777 Partners struggling to meet the Premier League’s conditions for completing the purchase, leading to the expiration of the agreement.

Last season, Everton faced the threat of relegation from the Premier League after having points deducted twice for breaching the Profit and Sustainability Rules (PSR). However, the team managed to secure their top-flight status by finishing in 15th place after winning five of their last eight games. The uncertainty surrounding the club’s ownership has added to the challenges faced by Everton as they aim to stabilize their position in the league and progress in the upcoming seasons.