The Premier League team Everton F.C. (UK) owners Blue Heaven Holdings have failed to reach an agreement with The Friedkin Group on the sale of the club, both parties announced in a joint statement on July 19th.
The majority owner Blue Heaven Holdings – run by Farhad Moshiri – currently holds a 94 percent stake in Everton F.C. but has been in a series of failed discussions with different parties to take over at the Goodison Park.
‘EUROSPORT’ stated that The Friedkin Group – which owns the Serie A club AS Roma (Italy) – had agreed a deal in principle to buy the Premier League outfit in June but will not proceed with the sale just a month after the 777 Partners’ bid to reach a sale also fell through.
The Everton Football Club is a professional association football club based in Liverpool, England (UK). The club competes in the Premier League, the top tier of English football.
The Goodison Park is a football stadium in the Walton area of Liverpool, England (UK) two miles (three km) North of the City Centre which is the home of the Premier League club Everton F.C. since 1892 and has an all-seated capacity of 39,414.
The 52,888-capacity Everton Stadium is a football stadium under construction on Bramley-Moore Dock in Vauxhall, Liverpool, England (UK) that will become the home ground for the Everton F.C. and is scheduled to open in 2025 replacing Goodison Park.
The Blue Heaven Holdings Limited (BHHL) is wholly-owned by another Isle of Man (a self-governing British Crown Dependency on the Irish Sea between Great Britain and Ireland) Company, the Blue Horizon Investments Limited (BHIL). The BHIL is wholly-owned and controlled by Farhad Moshiri (British-Iranian businessman). The remaining 7,969 shares are owned by approximately 2,119 separate accounts.
Houston (US)-based The Friedkin Group comprises a consortium of automotive, hospitality, entertainment, sports, and adventure companies.
The 777 Partners is a Miami (US)-based alternative investment platform that invests across a number of high-growth attractive verticals with a strong focus on financial services.
‘EUROSPORT’ further stated that Everton’s talks with the Friedkin Group over a planned sale of a majority stake in the club have ended with no deal agreed between the two parties.
The Friedkin Group had agreed to a deal in principle to take over the club on June 20th but talks stalled and a joint statement on July 19th confirmed that the sale will not progress.
The group was granted exclusivity after Everton’s proposed deal with the Miami-based firm 777 Partners broke down in June.
The joint statement confirmed that the group will continue to be a lender to the club.
The joint statement read, “Both the Blue Heaven Holdings and The Friedkin Group entered discussions in good faith to explore whether a sale could be agreed. Those discussions have concluded. The parties agree it is in both their interests for the Everton F.C. to explore alternative options.”
Chairman Dan Friedkin’s (American businessman and film producer) The Friedkin Group owns the Serie A club AS Roma and has lent £200 million to the Everton F.C. That loan has been significant in facilitating the construction of Everton’s new stadium at Bramley-Moore Dock where the club will be based from the start of the 2025-2026 seasons.
The joint statement added, “The Friedkin Group will remain a lender to the club and is proud to have played a key role in enabling the new stadium to be built which will help ensure a bright future for both Everton and the City of Liverpool. The Blue Heaven Holdings maintains a positive relationship with The Friedkin Group and would like to thank them for the time and effort they have put into this process.”
The Friedkin Group is the fourth separate party to be granted exclusivity but with talks ending without successfully reaching a deal.
The deal with 777 Partners fell through following delays as the group struggled to meet the Premier League ownership rules and eventually failed to reach a deadline for a share purchase agreement.
Moshiri has faced criticism in recent years as the club has posted serious financial losses and breached the Premier League’s Profit and Sustainability Rules.
The club was docked eight points for breaching the rules – initially 10 but reduced to six on appeal – before another six points were docked in April.
The Premier League Profit and Sustainability Rules dictate the amount of money that Premier League clubs are permitted to lose over a specific period. They determine how much these teams can spend on things like transfers in the sense that each club must toe the line when it comes to balancing the income and the expenditure.
Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.
Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at coliseum-online.com/alliance and make use of the 365Coliseum Business.