Everton fans embrace hope after TFG takeover

They must now hope all that is behind them after Roundhouse Capital Holdings Limited, an entity within TFG, acquired outgoing owner Farhad Moshiri's majority stake in the club, who will move into their new stadium at Bramley-Moore Dock in time for next season.

"Notwithstanding the development of our exceptional new home on the banks of the Royal Blue Mersey, our recent history has been clouded by relegation battles, financial uncertainty, failed ownership bids, a leadership vacuum and unjust sporting sanctions," a statement from the Everton Fan Advisory Board (FAB) read.

"Today's announcement provides the opportunity for Evertonians to once again look forward with hope and optimism."

Shareholder loans granted by Moshiri's holding company have been converted into equity to avoid the club incurring extra costs, now that such loans have to be assessed for fair market value under updated Premier League rules.

The club said other debt has been refinanced, with Roundhouse now understood to hold a 99.5 per cent stake in the club - Moshiri's 98.8 per cent stake plus an additional equity investment which was triggered upon completion of the deal.

TFG principal, American billionaire Dan Friedkin, has been proposed as chairman of the club board in the new structure and has appointed Marc Watts as the club's new executive chairman.

TFG also owns Italian top-flight team Roma.

"We note the terms of the deal which help create a stable financial platform for future growth, and the commitment that new board members, Dan Friedkin, Marc Watts and Ana Dunkel will lead 'through actions, not words'," the fan group statement continued.

"We believe that these steps are critical in helping realise the great potential of Everton Football Club.

"We are encouraged by the aims and ambitions that TFG have set out today and their stated core mission to go beyond the ordinary, lead through competence, innovation, teamwork and an eagerness to excel.

"Providing clarity and communicating about the road ahead will be essential. We recognise that change will not come overnight.

"We look forward to hearing more about their plans in the coming weeks and months and working alongside them to help achieve their aims of embracing the passion, creativity and values of Evertonians."

Moshiri reached an agreement to sell his stake to 777 Partners in September last year but after months of uncertainty, the deal finally collapsed at the end of May when an exclusivity period ended with no formal agreement having been reached.

In the intervening period the club were twice sanctioned for breaches of the Premier League's profitability and sustainability rules (PSR).

An initial 10-point deduction imposed in November last year was reduced to six on appeal, before a further two-point penalty was imposed in April.

In an open letter to fans published on the club's website, Friedkin wrote: "I take immense pride in welcoming one of England's most historic football clubs to our global family, The Friedkin Group. Everton represents a proud legacy, and we are honoured to become custodians of this great institution.

"The Friedkin Group is a diverse family of companies with a global footprint spanning industries such as sports, automotive, entertainment, hospitality, and adventure.

"Across all our endeavours, we strive to deliver extraordinary experiences that ignite people's passions. We are thrilled to bring this ethos to Everton and the Liverpool City Region.

"Whilst we are new to the club, we fully understand the vital role Everton plays in local culture, history, and the lives of Evertonians here and around the world.

"We are deeply committed to honouring this legacy while contributing positively to the community, economy, and people of this remarkable city."

It is understood a delegation from TFG will be present at Goodison Park for Sunday's home Premier League match against Chelsea.