Everton have announced that Friedkin Group has reached an agreement with its Majority stakeholder, Farhad Moshiri, to acquire its 94% share of the Premier League club, Afrosport reports.
The announcement comes barely two months after Friedkin Group surprisingly abandoned its plans to buy a majority stake in the Merseyside club despite it being granted a period of exclusivity.
The Friedkin Group, which also owns Italian outfit, AS Roma, also has a portfolio of companies in the automotive, sports, entertainment, hospitality, and adventure industries.
The entity entered into exclusive discussions to buy a majority stake in Everton in June but no agreement was reached despite holding lengthy talks with the Premier League outfit.
According to a statement by a spokesperson of Friedkin Group, the agreement comes at a very crucial time in the club’s history.
It reads: “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.”
Friedkin Group’s Chairman, Dan Friedkin, according to Forbes, has a net worth of £5.7 billion.
He is known as a shrewd businessman who wants to see his prized jewels, Roma and Everton, rise swiftly in their various league tables.
Last week, the Italian club sacked its manager and Club legend, Daniele de Rossi, for failing to win any of its four opening fixtures in the Serie A.
The action, however, was met with backlash by the club Ultras, who felt the sacking was unwarranted.
Everton is currently joint-bottom of the Premier League, having failed to win any of its five league matches so far, and Manager Sean Dyche would be looking to change his fortunes to avoid facing the axe.
The club had two separate deductions totalling eight points last season for breaching the Premier League’s Profit and Sustainability Rules (PSR) but managed to escape the drop.
