The Premier League has seen a significant shift in ownership, as the United States continues to make its mark on English football. The Friedkin Group, based in Texas, has successfully completed the acquisition of 98.8% of Everton, marking the 10th Premier League club to come under majority American ownership.
The deal brings to an end Farhad Moshiri's turbulent eight-year reign at the historic English club. Moshiri's tenure was marked by significant investment but also financial instability and on-pitch underperformance. The exact financial details of the transaction have not been disclosed, but British media outlets estimate the deal to be worth over £400 million.
Led by Dan Friedkin, whose net worth is estimated at $6.4 billion by Forbes, and his son Ryan, the Friedkin Group has a diverse portfolio of investments spanning the automotive, entertainment, hospitality, and sports industries. The family fortune was initially built through the distribution of Toyota vehicles in Texas.
“I am immensely proud to welcome one of England’s most historic football clubs to our global family,” said Dan Friedkin. “Everton represents a proud legacy, and we are honored to become custodians of such a great institution.”
The takeover marks a new era for Everton, a club steeped in tradition and with a passionate fanbase. The Friedkin Group has expressed a commitment to honoring the club's history while also investing in the future. Key areas of focus are expected to include strengthening the squad, improving the club's infrastructure, and engaging more deeply with the local community.
The acquisition of Everton by the Friedkin Group further solidifies the growing influence of American ownership in the Premier League. With teams like Arsenal, Manchester United, Liverpool, Chelsea, and now Everton under American control, the cultural and business practices of the Premier League are increasingly shaped by American sports models.
While the influx of American investment has brought significant financial resources to English football, it has also raised concerns about the long-term sustainability of the league and the potential loss of English identity. Critics argue that the focus on short-term success and the pursuit of global brands could undermine the traditional values of English football.
However, proponents of American ownership point to the increased commercial opportunities and the ability to attract top talent that foreign investment can bring. They also argue that American owners often have a long-term vision for their clubs and are committed to building sustainable and successful organizations.
The coming months will be crucial for Everton as the club transitions to new ownership. Fans will be eager to see how the Friedkin Group approaches the challenges facing the club, including improving the team's on-field performance and strengthening the club's finances.
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