Everton confirm agreement reached in takeover battle

The Friedkin Group have reached a total agreement to purchase Farhad Moshiri’s 94% majority stake in Everton.

777 Partners were expected to complete a takeover of Everton earlier this year, but they missed the deadline and the deal fell through, allowing The Friedkin Group to pounce.

A statement on Everton’s official club website read: “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.

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“The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.

“A spokesperson for The Friedkin Group said: ‘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.’”

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Everton’s season so far

Everton are currently 19th in the Premier League table, having picked up just one point from their opening five league matches.

They lost their first four games of the new campaign before being held to a 1-1 draw against Leicester City on Saturday.

The Toffees spent €50.2 million on new signings during the summer window, with Jake O’Brien, Ilimian Ndiaye, Tim Iroegbunam and Asmir Begovic arriving on permanent deals.

In addition, Jesper Lindstrom, Armando Broja and Orel Mangala all joined the club on season-long loan deals.