The Friedkin Group has officially taken majority control of Everton, marking the end of Farhad Moshiri’s tenure.

The deal, worth more than £400 million, makes Everton the 10th Premier League team to come under majority American ownership.

The deal between Moshiri and the Texas-based Friedkin Group was initially signed on September 23, but the Premier League’s final regulatory approval was required before the takeover could be completed.

Led by chairman Dan Friedkin, the Friedkin Group also owns Serie A side AS Roma.

As part of the new leadership structure, Friedkin is expected to serve as chairman of Everton’s board, with Mark Watts taking on the role of executive chairman overseeing the club’s day-to-day operations.

In an open letter to fans, Friedkin expressed his excitement about the acquisition: “I am very proud to welcome one of England’s most historic football clubs into our global family, the Friedkin Group. Everton represents a proud heritage, and we are honored to be the custodians of this great institution.

Club Statement: Everton Football Club, acquired by Roundhouse Capital Holdings Ltd, part of the Friedkin Group. 🔵

— Everton (@Everton) December 19, 2024

“While we are new to the club, we fully understand Everton’s local culture, history and the important role it plays in the lives of Evertonians here and around the world.

“We are deeply committed to honoring this legacy by making a positive contribution to the community, economy and people of this wonderful city.”

British-Iranian businessman Farhad Moshiri first bought a 49.9% stake in Everton in 2016 and increased his ownership to 94.1% in 2022.

His tenure was also marked by instability despite significant financial investment, as Everton struggled both on and off the pitch.

Everton, a club that has not been relegated since the 1953–54 season, has endured three consecutive years of poor Premier League finishes, finishing 16th, 17th and 15th in the previous campaigns.

Currently sitting in 16th place, the team faces another challenging season under manager Sean Dyche.

Representatives of the Friedkin Group are expected to attend Everton’s next match against second-placed Chelsea at Goodison Park on Sunday.