Everton takeover official announcement – Sums up what a bargain Newcastle United owners struck | OneFootball

The Everton takeover has now been completed, an official statement (see below) confirming the deal.

The Friedkin Group taking over a club riddled with massive debts.

It remains to be seen whether this will prove a positive turning point after the Moshiri/Usmanov farce, a fortune spent on so many poor players, but that and other shocking decisions leading to eventual crisis.

The AS Roma fans have been in revolt against the running of their club by the Friedkin Group, so only time will tell on how Everton fans view the change of ownership.

This takeover of Everton sums up just what a bargain the Newcastle United owners got 37 months ago when paying £305m to Mike Ashley.

Ashley had pretended for so many years that he was trying/willing to sell Newcastle United, only changing that outlook when having to give away 10,000+ free season tickets as enough fans finally said enough was enough.

Mike Ashley panicking and agreeing a swift £305m deal with the Saudi Arabia PIF led consortium, only to then realise he could have got far more for the club, despite his shocking running of the club for a decade and a half. As the Saudi Arabia PIF led deal stalled on Premier League approval, Ashley trying to pull out of the deal so he could get a higher price elsewhere, or indeed from the Saudi Arabia PIF, only to find he was tightly tied in legally to that £305m deal. Which eventually then went through on 7 October 2021.

Having realised he had sold Newcastle United on the cheap in a climate where Premier League clubs were rising rapidly in value, since the NUFC takeover, Mike Ashley throwing the toys out of his pram in frustration, doing everything he can to make life difficult for the new/current Newcastle United owners.

As the Newcastle United owners have made clear, they saw NUFC as a brilliant investment opportunity that could/would seriously increase in value if ran on professional lines, which has for sure proved to be the case.

‘Everton Football Club has been acquired by Roundhouse Capital Holdings Limited (Roundhouse), an entity within The Friedkin Group (TFG). The transaction was finalised following an agreement between Farhad Moshiri’s Blue Heaven Holdings (BHH) and Roundhouse for the sale of BHH’s majority stake in the Club.

The deal received the necessary regulatory approvals from the Premier League, Women’s Professional Leagues Limited, the Football Association, and the Financial Conduct Authority.

Marc Watts, incoming Executive Chairman of Everton Football Club, expressed his enthusiasm:

“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.”

Farhad Moshiri, the outgoing majority shareholder, stated: “I truly believe that the transaction with The Friedkin Group is the best outcome for the Club and its future success. There has been a huge team effort in getting to this stage and I would like to personally thank my Board colleagues John Spellman and Colin Chong and all the senior management team including Katie, James, Richard and of course Kevin and Sean for their huge commitment to the Club. Despite a challenging geopolitical backdrop, a significant amount has been achieved over the last couple of years including the delivery of a new sporting department, the stabilisation of our finances and the delivery of our iconic new stadium. I now hand over to new owners confident in the outlook for the Club and that our incredible fans will see the success on the pitch that they so thoroughly deserve.”

DAN FRIEDKIN’S MESSAGE TO EVERTONIANS

Dan Friedkin, Chairman and CEO of TFG is proposed to be Chairman of the Board. He has appointed Marc Watts to serve as Executive Chairman, who will be responsible in this role for the management of the club. Ana Dunkel, TFG’s Chief Financial Officer and Colin Chong, the Club’s interim CEO will also serve on the Board. Additional appointments will be made in the coming weeks.

TFG’s vision for Everton Football Club focuses on building a sustainable and successful future. Key priorities include:

Strengthening the men’s first-team squad through thoughtful and strategic investment. Cultivating home-grown superstars through Everton’s Academy. Fostering a distinct on-pitch and commercial strategy for the women’s team. Respecting the Club’s traditions and keeping Everton at the heart of the community. Maximising the potential of the new stadium through long-term commercial partnerships and events that benefit the city of Liverpool. Enhancing Everton’s reputation as a unique and historical name in world football.

In view of recent changes to the Premier League’s shareholder loan regulations, Everton took proactive steps prior to the transaction’s completion. These included increasing the Club’s share capital to convert outstanding debt owed to BHH into equity, thereby facilitating additional equity investment from Roundhouse.