The Friedkin Group (TFG) has completed the takeover of Premier League club Everton.
The Friedkin Group, which also owns Roma and is run by an American billionaire Dan Friedkinacquired a majority stake in Everton, ushering in a new era for the Merseyside club and ending Farhad Moshiri's time in charge at Goodison Park.
Friedkin, who bought Serie A side Roma in 2020, is worth an estimated $6.1bn (£4.8bn).
New executive chairman Marc Watts said in an official statement: “Today is a significant and proud occasion for The Friedkin Group as we become the custodians of this iconic football club.
“We are committed to leading Everton into an exciting new era both on and off the pitch. Providing the club with immediate financial stability is a key priority and we are delighted to have achieved this.
“While it will take time to get Everton back to their rightful place in the Premier League table, today is the first step on that journey.”
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'The deal will leave Everton in a better place'
Sky Sports News reporter Alan Myers:
“Moshiri worked hard to get this business over the line.
“This deal will leave the club in a better place, certainly than what many prognosticators have suggested, thanks to his decision to convert his loans into equity and his dogged endurance to build a new stadium in the face of huge challenges – some of them many they don't appreciate it.
“This will be his legacy. He will, of course, admit that he made mistakes – and there were mistakes.
“The club's position in the league over a number of years tells us that. But if everything goes as expected, Everton can look to a brighter future and he will play his part in that.”