“A new stage in the history of the English club begins.”, — write: football.ua
A new stage in the history of the English club begins.
Dan and Ryan Friedkin, Getty Images December 19, 2024, 1:14 p.m
The new owners of the Toffees agreed to buy 94% of the club’s shares, which belonged to the majority shareholder Farhad Moshira, back in September, and have now received the approval of the regulatory authorities, necessary for the final conclusion of the deal.
TFG representatives will reportedly attend Sunday’s Premier League match against Chelsea at Goodison Park.
As a result of the deal, Roundhouse Capital Holdings Limited, part of TFG, will officially become the club’s owner, with Mark Watts appointed as chief executive.
The takeover ends Anglo-Iranian businessman Farhad Moshiri’s tenure at the helm of the club, which began in 2016.
Dan Friedkin, chairman and CEO of TFG, has been tapped to become chairman of the board, while Watts will be responsible for running the club. Ana Dunkel, TFG’s finance director, and Colin Chong, the club’s interim CEO, will also join the board. Additional appointments will be made over the coming weeks, the club said.
Although the amount of the deal has not been disclosed, Moshiri will leave the club having suffered a significant financial loss. He will receive a small, undisclosed amount of compensation after the takeover is completed, and there will also be a number of deferred payments as part of the deal.
TFG has committed to significantly reducing the club’s debt burden and paying £200m to US insurer ACAP, as well as refinancing another £150m to another creditor, Rights and Media Funding.
In total, the former Everton owner reportedly spent around £800m on the club, but suffered significant personal financial losses due to his links with sanctioned Russian oligarch Alisher Usmanov following Russia’s invasion of Ukraine.