The Friedkin Group completed its purchase of Everton on Thursday, becoming the 10th American owner of a Premier League team.

This group, which already owns Roma, will pay around 400 million pounds (486 million euros) to take over the majority stake in the club, which until Thursday was in the hands of Farhad Moshiri, a billionaire Iranian businessman.

Moshiri, who previously had shares in Arsenal, bought 49% of Everton in 2016, in a deal with Russian businessman Usmanov, and had to expand the purchase to 94% in 2022, after Usmanov had to sell his share because of the war against Ukraine. Friedkin reached an agreement with Moshiri on September 23 and was awaiting the Premier League's owners' and directors' test.

The Premier League has approved the purchase of 98.8% of Everton by the Friedkin group, once the owners' and directors' test has been completed. Once approved by the board, it was also approved by an independent panel," the Premier League said in a statement.

Friedkin's letter

Dan Friedkin, owner of the company, will be club chairman, and in a letter to fans said it is "an immense pride" to belong to one of the most historic clubs in English football.

"Everton represents a proud legacy and it is an honour to be part of this great club. We understand the vital role Everton plays in the local community and in the lives of the fans here and all over the world. We are fully committed to honouring this legacy and contributing positively to the economy, community and people of this great city."

Everton, who have not been relegated from the top flight since the 1953-54 season, are 16th in the table and have been flirting with the lower reaches of the table for several years.Last season they survived despite being hit with an eight-point deduction for financial problems.