The Friedkin Group have successful acquired Farhad Moshiri’s 94% stake in Everton football club.
In what seemed as an almost never-ending story, after Moshiri had met with many companies., yet his attempts to broker a deal collapsed, TFG have reached a deal.
They had previously pulled out due to concerns over loans which the club had undertaken with other investors, however subject to FA approval, this deal will now be going ahead. It is interesting to note that this deal will be carried out as the new Everton Stadium is being built. The business hope to provide a stability to the club that has not been seen since David Moyes was at the helm.
Moshiri has injected £450m of unsecured shareholder loans into the club since 2016, but fundamentally he has been running out of funds needed to run the club as well as funding needed for the building of the stadium.
We don’t yet know how much this stake is worth. This is an extremely optimistic and exciting update for Everton fans.