Everton have been acquired by Roundhouse Capital Holdings Limited, an entity within the Friedkin Group, after regulatory approval was finally granted on Thursday morning.
Marc Watts, a senior figure at the Friedkin Group, has taken over as executive chairman to lead a new board that will have responsibility for football affairs.
Dan Friedkin has been proposed to join the board as chairman.
In an opening statement to fans, Watts said: “Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club.
The deal will bring instant financial stability to Everton, with all short-term debts removed from the club’s ledger and the group having agreed to convert the club’s near £300m external debts into “long-term senior debt” with blue chip financial institutions.
Other priorities include:
Cultivating home-grown superstars through Everton’s Academy. Fostering a distinct on-pitch and commercial strategy for the women’s team. Respecting the Club’s traditions and keeping Everton at the heart of the community. Maximising the potential of the new stadium through long-term commercial partnerships and events that benefit the city of Liverpool. Enhancing Everton’s reputation as a unique and historical name in world football.“In the short term, we understand the Club has faced significant challenges on and off-the-pitch for several years. That’s why our immediate priority is stabilising the club and improving results on the pitch,” he said.
“Whilst there is much work to be done, and PSR remains a limiting factor in the short term, the underlying financial position is now much stronger.
“We’re pleased that Colin Chong has agreed to remain in his interim position while we finalise the appointment of a new permanent CEO, which we will update you on in due course.
Outgoing majority shareholder Farhad Moshiri praised the new owners as the “best possible outcome” for the club as he ended his tumultuous eight years in charge.
“Despite a challenging geopolitical backdrop, a significant amount has been achieved over the last couple of years including the delivery of a new sporting department, the stabilisation of our finances and the delivery of our iconic new stadium.
“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.”
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