The US-based Friedkin Group has reached an agreement to acquire Farhad Moshiri’s 94% majority stake in Everton Football Club. 

The deal, believed to be worth over £400 million, is subject to approval from the Premier League, the Football Association, and the Financial Conduct Authority.

Led by chairman Dan Friedkin, who also owns Italian club Roma, the group aims to bring stability to the club after a challenging period under Moshiri’s ownership. Despite investing over £750 million since taking control in 2016, Moshiri’s tenure has been marked by poor performances and fan dissatisfaction, with Everton finishing in the bottom half of the Premier League in the last three seasons.

Everton, a club that has never been relegated during the Premier League era, faced further struggles last season, including a points deduction for breaching financial regulations. 

A spokesperson for the Friedkin Group stated, “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.”

If completed, Everton would become the 10th Premier League club under majority American ownership. The Friedkin Group is expected to focus on stabilizing the club and overseeing the completion of the new Everton Stadium at Bramley-Moore Dock.