AS Roma owner buys a club in the Premier League

The owner of AS Roma Dan Friedkin has now completed the purchase of a top Premier League club as the 2024/2025 club football season continues.

American billionaire Dan Friedkin, owner of AS Roma, has finalized an agreement to purchase of the Premier League club, Everton from the club's majority shareholder, Farhad Moshiri.

Former owner, Moshiri, who has been seeking to sell his stake in the struggling Premier League club for several years, nearly completed a sale earlier in 2024 to Miami-based 777 Partners. However, that deal fell through, allowing new buyers to step in. Friedkin, after initially entering exclusive talks to acquire Everton and later backing out in July, has now resumed negotiations and reached a new agreement.

Reports also confirm that in the new deal, The Friedkin Group will take over a majority stake in Everton, pending necessary approvals from the Premier League, the Football Association, and the Financial Conduct Authority.

Interestingly, Friedkin’s group had previously withdrawn from negotiations due to concerns over loans the club had taken from other investors. Now, after re-entering the process, they have outbid American businessman John Textor, who was also in the running to acquire a majority share in the club.

According to The Athletic, Everton currently carries a debt of nearly £600 million ($798 million), and they had already secured a £200 million loan from the Friedkin Group. As part of the new agreement, it is possible that these loans may be converted into equity, allowing the club to reduce its outstanding debt and improve its financial standing.

Read the Latest Sports News and Get Fresh updates on X and Facebook