The US company (TFG), owned by the Texas billionaire Dan Friedkin, agreed a complex deal to purchase Moshiri's 94.1% shareholding in September. It has acquired Everton through an entity, Roundhouse Capital Holdings Limited, and bought 98.8% of the club in total. Everton recently increased their share capital to convert debt owed to Moshiri's Bluesky Capital into equity, after changes to Premier League shareholder loan regulations. The loans from Bluesky Capital totalled £451m and have been wiped out.
Friedkin will become the Everton chairman and has appointed Marc Watts, the president of TFG, as the executive chairman. TFG's chief financial officer, Ana Dunkel, will also serve on a new Everton board of directors.
Colin Chong, the club's interim chief executive, will remain in the role until a decision on a permanent CEO is made. Additional appointments will follow in the coming weeks. Representatives of TFG will be at Sunday's game at home to Chelsea.
Watts said: "Today marks a momentous and proud occasion for the Friedkin Group as we become custodians of this iconic football club.
We are committed to leading Everton into an exciting new era both on and off the pitch. Providing immediate financial stability to the club has been a key priority, and we are delighted to have achieved this. While restoring Everton to its rightful place in the Premier League table will take time, today is the first step in that journey."
This story is from the December 20, 2024 edition of The Guardian.
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This story is from the December 20, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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