The Friedkins entered the bidding for Everton following the collapse of 777 Partners’ agreement. The Friedkin family has reached an exclusive agreement to buy Everton from Farhad Moshiri and is expected to become the club’s next owners. The American billionaires, who also own Roma, are currently in pole position to buy out Moshiri’s 94.1% interest in the Merseyside club, albeit a deal has yet to be concluded as the Friedkins conduct due diligence.
Dan Friedkin, who is worth $6 billion, has a diverse range of commercial interests, including vehicle sales and film companies. Since he bought Roma in 2020, the Italian club has advanced to the Europa League final and won the Conference League. The Friedkins entered the Everton auction when 777 Partners’ September agreement with Moshiri fell through. The crisis-hit Miami-based corporation faced a number of lawsuits and was accused of fraud worth hundreds of millions of dollars in a civil complaint in New York.
Moshiri chose the Americans over a consortium led by Merseyside businessmen Andy Bell and George Downing, as well as another formed by MSP Sports Capital and a group of investors led by Vanuche Manoukian, who had bid £400 million. Everton presently owes roughly £600 million in debt, the majority of which was incurred while building their new stadium at Bramley-Moore Dock, with £160 million payable to MSP, Bell and Downing, and approximately £225 million owed to Rights and Media Fund. 777 also financed them £200 million, but A-Cap now has that interest. In addition, Moshiri is owing £450 million in shareholder loans. It is unclear whether he will recuperate much of that.
However, following a season in which Everton received two point deductions for violating Financial Fair Play in consecutive years, as well as 777’s issues raising the prospect of administration, it hints to a possibly brighter future for England’s nine-time champions.
