The Friedkin Group issued a statement to Roma fans after the firm agreed to an Everton takeover on Monday
US billionaire Dan Friedkin and his son Ryan delivered a statement to AS Roma fans on Monday evening. The Friedkin Group have agreed a deal to acquire a controlling stake in Everton.
Having initially walked away from talks over a Toffees takeover back in July due to concerns that they had around the £200m-plus debt to the embattled 777 Partners firm that existed on the balance sheet, the Friedkin Group came back to the table in a serious way last week, with a deal agreed on Monday with Farhad Moshiri to acquire his majority shareholding, held through Blue Heaven Holdings Limited, in full.
The Friedkin Group, due to them having taken on a £200m debt previously held by MSP Sports Capital, had remained in constant dialogue with Everton and other creditors of the club, including talks with John Textor, who had been chasing an Everton acquisition of his own. The Friedkin Group would have required full repayment of their loan to the club upon the successful completion of a takeover.
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But with their concerns eased over the 777 Partners legal case taking place in a New York civil court, where 777, who had agreed a deal to buy the club 12 months ago, were accused of ‘fraudulent’ behaviour to obtain $350m worth of funding from London-based Leadenhall Capital Partners, The Friedkin Group opted to reignite their original plans to purchase the club, having already done due diligence during an initial period of exclusivity.
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The potential new owners, who could be in situ by Christmas if they pass the relevant tests, which they are expected to do, already have experience in owning and running a major football team, having been in charge at Italian giants AS Roma since late 2020.
During their time as custodians at the Serie A side they have seen success in winning the UEFA Europa Conference League in 2022, and the UEFA Europa League in 2023.
However, they have come in for fierce criticism from some sections of the Roma fan base in recent weeks after a controversial decision to sack club legend Daniele De Rossi as head coach in the opening weeks of the season.
In the hours following the Everton agreement being announced, Dan Friedkin and son Ryan, who is expected to take a role of prominence at board level at the Toffees upon completion of a deal, delivered a written statement to Roma fans to address the Everton move, hinting at synergies that could exist between the two to be of benefit through a multi-club model.
The statement read: “Football is admired around the world as the beautiful game. Each match is filled with passion, excitement and unpredictability – and that’s why we love it.
“But beyond the results on the pitch, our responsibility as club owners is to make big decisions that we believe are in the best interest of the club, even when they are very difficult to make.
“The transfer signings this summer marked the beginning of a strategic multi-year project designed to bring AS Roma back to the forefront of European football. As part of this vision, the development of a new stadium, which will honor the club’s deep history, is well underway.
“Let us say this; we have the utmost respect for Daniele and believe he will have a great career as a coach. Maybe even one day back at Roma. The decision to part ways with him was incredibly difficult, but we made it with the belief that it gives us the best opportunity to compete for trophies this season.
“We remain active investors in the sports industry. We love the beautiful game. The potential addition of Everton to our portfolio does not alter our focus on AS Roma. If anything, the multi-club symbiosis will only help Roma. Each club in our portfolio operates independently and AS Roma remains at the heart of our football ambitions. Rest assured, our commitment of time, resources, and energy to Roma will not be diminished. Our goal is clear – to see AS Roma consistently compete at the highest levels of European football.
“To our incredible fans, we acknowledge the immense responsibility we bear in leading this historic club. Your unwavering loyalty fuels us as we continue building for the future. We value your voices and want you to know — we hear you. You are the soul of this club, and we are determined to make you proud.”
The ECHO understands that the investment thesis behind the Everton takeover isn’t rooted in wanting to create a sprawling multi-club model, but that where benefits exist they will be explored.
The Houston-based Friedkin Group believe that the club, if well managed and stabilised, can be a competitive force in the Premier League given its global appeal as a brand and strong history.
One of the major boons is the new stadium, with the 52,888-seater stadium at Bramley-Moore Dock, where the club will take residence from the start of next season, offering the Toffees a chance to grow commercial and matchday revenues and open up a myriad other new revenues streams that they haven’t had the opportunity to do within the confines of Goodison Park, while rivals have redeveloped or moved homes to maximise the opportunities that exist in the modern game.
The Friedkin Group, not the first to struggle in doing so on Italian soil, have so far been stymied in their bid to find a new home for AS Roma, and having the ability to walk into a new purpose-built home at Everton on the banks of the River Mersey is a massive plus, and a rare investment opportunity in football.