Friedkin Group reach deal to buy Premier League club Everton

NEW DELHI: Everton announced on Monday that Farhad Moshiri's majority stake in the Premier League club will be purchased by the Friedkin Group.The group, led by American billionaire Dan Friedkin, had entered exclusive negotiations in June. However, by July, Everton stated that both sides had not reached a deal.John Textor, holding a 45 percent stake in Crystal Palace, then seemed to be a potential buyer. But a statement from Everton has now confirmed that an agreement has been finalized with the Friedkin Group, reported AFP."Blue Heaven Holdings and the Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings' majority stake in Everton Football Club," the club said."The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority."A spokesman for The Friedkin Group expressed their excitement, stating, "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."Everton currently sit second from bottom of the Premier League, with four defeats in their first five matches of the season.