The Friedkin Group officially controls the majority of Everton and Farhad Moshiri's tenure has come to an end.
The deal, worth more than £400m, makes Everton the 10th Premier League club under majority American ownership.
The deal between Moshiri and Texas-based Friedkin Group was initially reached on September 23, but the Premier League's final rules require approval before the takeover can be completed.
The Friedkin Group, led by chairman Dan Friedkin, owns Serie A club AS Roma.
As part of the new leadership structure; Friedkin is expected to serve as chairman of Everton's board, while Mark Watts will take on the role of executive chairman, overseeing the club's day-to-day operations.
In an open letter to fans, Friedkin expressed his excitement about the acquisition: “We are proud to welcome one of England's most historic football clubs, the Friedkin Group, to the global family. Everton represent a proud heritage and are proud to be the custodians of this great institution.
Club Statement: Everton Football Club acquired by Roundhouse Capital Holdings Limited, part of the Friedkin Group. 🔵
– Everton (@Everton) December 19 2024
“Although we are new to the club, we fully understand the important role Everton plays in local culture, history and the lives of Evertonians here and around the world.
“We are deeply committed to honoring this legacy by making a positive contribution to the community, business and people of this unique city.”
British-Iranian businessman Farhad Moshiri first bought a 49.9% stake in Everton in 2016, increasing his ownership to 94.1% by 2022.
As Everton struggled both on and off the pitch, his tenure was fraught with significant financial investment.
Everton, who have not been relegated since 1953-54, have endured three straight years of poor Premier League finishes, finishing 16th last season. He finished 17th and 15th.
Currently in 16th place, the team faces further challenges under coach Sean Dyche.
Friedkin Group representatives will attend Everton's match against second-placed Chelsea at Goodison Park on Sunday.