Friedkin edges ahead of Textor in Everton takeover race
09/23/2024 10:47 AM
Nothing is every cut and dried with the Toffees is it?
Just when you thought once again that the takeover of Everton was finally headed towards a logical conclusion, the whole picture changed again.
For the last few weeks it had been looking like John Textor, who is a minority owner of Crystal Palace amongst a number of other clubs including Botafogo, Olympique Lyon and RWD Molenbeek, was heading towards an agreement with Toffees chariman Farhad Moshiri to buy his shares. Lyon have been active trading partners with the Blues for players in recent transfer windows.
However, in a surprise development early on Monday, The Friedkin Group appeared to have made a triumphant return to the scene. In June this year the Friedkin group obtained a period of exclusivity to complete an outright purchase of Moshiri's 94% stake. However, that ended up falling through a month later as an agreement could not be reached between the two parties, reportedly due the amount of debt the club had accrued. Dan Friedkin, CEO of The Friedkin Group is worth at least £4.8 billion on his own and his business group worth a lot more, so there was some room for manouvering.
In a statement released to the public, the club indicated that an agreement has now been reached.
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. 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."
Dan Friedkin is quite the character - the American businessman, heir and film producer is reputedly worth £4.8 billion, and is the owner and CEO of The Friedkin Group which owns dealership Gulf States Toyota. He is also an avid pilot, golfer and conservationist, and also owns Ligue 2 side AS Cannes.
The 59-year-old flies a variety of vintage military aircraft and has performed in aerobatic air shows across the world with the United States Air Force and the Horsemen P-51 Flight Team. He has also designed and owns a number of golf courses in the USA while supporting wildlife conservation projects in East Africa.
Friedkin chairs the Auberge Resorts Collection, a portfolio of luxury resorts, hotels and vacation properties around the world. His interests reach out to the world of media and entertainment as well, as he co-founded 30WEST, a firm providing capital and guidance to creative projects and companies such as Neon, which distributed the Academy Award-winning film Parasite. He also co-formed Imperative Entertainment, a studio dedicated to the development, production and financing of various film, television and documentary ventures.
