Friedkin Group end talks with Everton over acquiring majority stake

Rajarshi has been part of Khel Now since 2022, and he covers world football.

Published at :July 19, 2024 at 7:27 PM

Modified at :July 19, 2024 at 8:04 PM

Friedkin Group own Serie A club AS Roma.

Everton have confirmed that their talks with Friedkin Group, who were going to take a majority stake in the club, have ended as the US-based firm have pulled out of the race to buy the stake.

The Friedkin Group was closing in on purchasing a 94% stake in Everton after reaching an agreement with the current Toffees’ owner Farhad Moshiri.

Chairman Dan Friedkin, who additionally owns AS Roma, boasts a net worth of £4.8 billion. He was willing to own the Premier League club having already had the ownership of the Italian side. However, their plan failed after the owners decided to not continue with buying Everton’s stake.

A statement was released by the Toffees, which read, “Following a period of exclusivity, discussions between Blue Heaven Holdings and The Friedkin Group over a potential sale of a majority stake in Everton have ended and The Friedkin Group will not be progressing with a purchase of the Club.

“Both Blue Heaven Holdings and The Friedkin Group entered discussions in good faith to explore whether a sale could be agreed.

“Those discussions have concluded. The parties agree it is in both their interests for Everton to explore alternative options.”

After weeks of talks between the club and Friedkin Group to buy the stake with an estimated value of £800m, the discussion suddenly came to a halt. Both parties failed to reach an agreement.

The statement added, “The Friedkin Group will remain a lender to the Club and is proud to have played a key role in enabling the new stadium to be built, which will help ensure a bright future for both Everton and the City of Liverpool.

“Blue Heaven Holdings maintains a positive relationship with The Friedkin Group and would like to thank them for the time and effort they have put into this process.

“When there is further news to share, it will be provided via the Club’s official communication channels.”

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Rajarshi Shukla

After earning a bachelor's degree in mass media, Rajarshi began his career as a sports writer in 2019, driven by his passion for sports journalism. He has been working in the field for over six years. A devoted fan of Lionel Messi and Barcelona, Rajarshi has been involved in sports since childhood. Before turning his focus to journalism, he even represented his college at the state level. Along with covering football, he enjoys playing the game, watching movies, and experimenting with new recipes in his spare time, as cooking is one of his favorite hobbies.