What's happened
The Friedkin Group, owners of AS Roma, are in advanced talks to acquire Everton Football Club from Farhad Moshiri. The American billionaires have provided funds to repay a loan and support the club's operations. This potential deal follows the collapse of a previous agreement with 777 Partners.
Why it matters
The potential acquisition of Everton by the Friedkin Group signifies a significant development in the club's ownership structure. This move could have a substantial impact on Everton's financial stability, future investments, and potential participation in European competitions.
What the papers say
According to The Independent, the Friedkin Group has provided £200m to repay a loan and support Everton's operations. The Guardian reports that the exclusive negotiations between the Friedkin Group and Moshiri have commenced. BBC News highlights the due diligence process and regulatory approvals required for the potential acquisition.
How we got here
Farhad Moshiri, the current owner of Everton, had previously agreed to sell his stake to 777 Partners, but the deal collapsed. This led to the Friedkin Group emerging as potential buyers, given their ownership of AS Roma and interest in acquiring Everton.
Common question
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Everton Football Club is an English professional football club based in Liverpool that competes in the Premier League, the top tier of English football.
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Farhad Moshiri is a British-Iranian businessman based in Monaco. He is the chairman and a shareholder of USM, a diversified Russian holding company with significant interests across the metals and mining, telecoms, technology and internet sectors.
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Thomas Daniel Friedkin born in 1965, is an American billionaire, the CEO of The Friedkin Group and the CEO of his subsidiary Gulf States Toyota Distributors, which was founded by his father, Thomas Hoyt Friedkin, president and CEO of the Friedkin Companie
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John Textor is an American business executive and co-owner of Crystal Palace Football Club, a professional football club based in Selhurst in the Borough of Croydon, South London, England, which currently competes in the Premier League, the highest level