Everton takeover completed by Friedkin Group

Everton's takeover by the Texas-based Friedkin Group has been completed with Farhad Moshiri's Blue Heaven Holdings selling its majority stake, the Premier League club said on Thursday.

The Friedkin Group, which also owns Serie A club AS Roma, had reached an agreement over the sale terms in September.

"Today marks a momentous and proud occasion for The Friedkin Group as we become custodians of this iconic football club. We are committed to leading Everton into an exciting new era both on and off the pitch," Marc Watts, the club's incoming Executive Chairman, said on the club's website.

The Premier League said its board had ratified The Friedkin Group's 98.8 per cent acquisition of Everton following the completion of the League's Owners' and Directors' Test.

Everton's sale means 10 of the 20 Premier League clubs are now under majority American ownership.

Toffees fans will welcome the news that Moshiri's turbulent tenure has ended and will hope the club's new owners can deliver an upturn in the team's fortunes as they prepare to move into the new Bramley-Moore Dock stadium at the start of next season.

While Everton have won the English league title nine times and have not been outside the top flight since 1954, the team have endured a decline in fortunes and narrowly escaped relegation on numerous occasions in recent times.

Last season they had points deducted twice for breaching the Premier League's Profitability and Sustainability Rules (PSR) and eventually finished 15th after winning five of their last eight games of the season.

"Today's announcement provides the opportunity for Evertonians to once again look forward with hope and optimism," the Everton Fan Advisory Board said in a statement.

MUCH-NEEDED STABILITY

Moshiri, a