The Friedkin Group has completed its majority takeover of Everton, ending the turbulent tenure of Farhad Moshiri.
The deal is believed to be worth in excess of £400m and the Toffees become the 10th club in the Premier League under majority American ownership.
The group reached an agreement with Moshiri on 23 September and were awaiting regulatory approval, with the Premier League having the final say on the deal, and this has now been granted.
The Texas-based group is led by chairman Dan Friedkin and also owns Italian Serie A club Roma. Friedkin has a net worth of £6.16bn, according to Forbes.
Friedkin has been proposed as the chairman of Everton's board, with Marc Watts serving as executive chairman. Watts will be responsible for the management of the club.
Friedkin said in an open letter: "I take immense pride in welcoming one of England's most historic football clubs to our global family, the Friedkin Group. Everton represents a proud legacy, and we are honoured to become custodians of this great institution.
"Whilst we are new to the club, we fully understand the vital role Everton plays in local culture, history, and the lives of Evertonians here and around the world.
"We are deeply committed to honouring this legacy while contributing positively to the community, economy, and people of this remarkable city."
British-Iranian businessman Moshiri first bought a 49.9% stake in Everton in 2016, before increasing his holding to 94.1% in 2022.
Everton, who have not played outside the top flight since 1953–54, have been in the bottom half of the Premier League for the past three seasons - finishing 16th, 17th and 15th - and are at the wrong end again in 16th.
Sean Dyche's team play second-placed Chelsea at Goodison Park on Sunday (14:00 GMT) and representatives of the Friedkin Group are expected to be at the game.
Latest Stories
-
Some scholarship students abroad have been logged out of their university systems – Owusu Afrifa
7 minutes -
Stop the lies! Nigeria did not originate highlife
22 minutes -
Mahama advocates African-led Financing for development
25 minutes -
Stench from spillover of large suck-aways threaten Tema residents’ health
32 minutes -
Mamprugu Youth Association condemns attacks on buses and military brutality
52 minutes -
Southampton boss ‘happy’ with Kamaldeen Sulemana after goal against Bournemouth
1 hour -
We are suffering – Scholarship student laments
1 hour -
MTN organises blood donation exercise on Val’s day
2 hours -
I funded some of my projects while at Highly Spiritual – Mr. Drew
2 hours -
Kamaldeen Sulemana scores in Southampton defeat to Bournemouth
2 hours -
Women’s FA Cup: Hasaacas Ladies make semis as Ampem Darkoa Ladies suffer elimination
2 hours -
US-Africa Business Center, 3 others congratulate GIPC CEO Madjie
2 hours -
One Leg, Many Dreams: The Abubakar Aziz Story
3 hours -
Playback: The Law discussed scholarships—law, policy & the chaos
3 hours -
Your leadership is needed now more than sver – NPP USA to Bawumia
3 hours