U.S. billionaire Dan Friedkin’s investment group has agreed to acquire a 94% stake in Everton F.C., subject to regulatory approval from the EPL, the Football Association, and the Financial Conduct Authority. This deal would transfer ownership from British-Iranian businessman Farhad Moshiri, who has been the majority stakeholder since 2016. Despite Moshiri’s financial investments, Everton has struggled in recent years, narrowly avoiding relegation several times and currently sitting 19th in the Premier League.

The Friedkin Group, led by CEO Dan Friedkin, aims to stabilize the club, complete the construction of the new stadium at Bramley-Moore Dock, and improve its future prospects. Friedkin, worth $7.6 billion, also owns Italian Serie A team AS Roma, adding Everton to his portfolio of football investments.

Dan Friedkin of AS Roma celebrates with the Europe Conference League Trophy in 2022.

This agreement follows multiple buyout attempts for Everton, including interest from 777 Partners and American businessman John Textor. The Friedkin Group had initially entered discussions earlier this year but pulled out before striking this deal. Moshiri’s exit marks a significant shift for Everton, which has struggled under his ownership to regain its position among the Premier League’s elite clubs.

The completion of the sale could bring much-needed stability and strategic direction to Everton, as the team faces ongoing challenges both on and off the pitch. The investment group’s primary focus is to secure regulatory approval and to present its long-term vision for the club once the transaction is finalized.