Newcastle United Premier League rivals subject to takeover U-turn after £400m talks & Saudi links

Everton were understood to be close to a £400million takeover by Dan Friedkin’s Friedkin Group. A deal was in place for Friedkin to takeover a 94.1% majority stake from current owner Farhad Moshiri.

But an official statement issued by the club has confirmed that takeover discussions have collapsed. “Following a period of exclusivity, discussions between Blue Heaven Holdings and The Friedkin Group over a potential sale of a majority stake in Everton have ended and The Friedkin Group will not be progressing with a purchase of the Club,” the statement read.

“Both Blue Heaven Holdings and The Friedkin Group entered discussions in good faith to explore whether a sale could be agreed. Those discussions have concluded. The parties agree it is in both their interests for Everton to explore alternative options.

“The Friedkin Group will remain a lender to the Club and is proud to have played a key role in enabling the new stadium to be built, which will help ensure a bright future for both Everton and the City of Liverpool.

“Blue Heaven Holdings maintains a positive relationship with The Friedkin Group and would like to thank them for the time and effort they have put into this process.

“When there is further news to share, it will be provided via the Club’s official communication channels.”

Everton were previously subject to a takeover bid from a consortium linked to the Saudi Arabian royal family. The consortium have since withdrawn from the process.

Everton’s Premier League rivals Newcastle United were taken over by the Saudi Arabian Public Investment Fund in 2021. As a sovereign wealth fund, PIF have links to the Saudi royal family with Crown Prince Mohammed bin Salman as chairman.

The Toffees were targeted by 777 Partners for an extended period during the 2023-24 campaign but a deal failed to materialise despite an exclusivity agreement being in place.

Now the same has happened again with The Friedkin Group, who also own a majority stake in Serie A side AS Roma. Friedkin is an American film producer with an estimated net worth of around £4.8billion, according to Forbes.