Matt Clinch is a deputy digital news editor for CNBC.
LONDON — The investment group run by U.S. billionaire Dan Friedkin on Monday agreed to buy Everton F.C., potentially ending years of uncertainty for the struggling English Premier League soccer club. The deal is subject to subject to regulatory approval from the EPL, the Football Association, and Britain’s Financial Conduct Authority.
The deal would give Friedkin the 94% stake currently owned by Farhad Moshiri. British-Iranian businessman Moshiri bought a 49.9% slice of Everton in 2016 and more recently increased that stake with a 100-million-pound capital injection. Despite Moshiri’s investments, the club — founded in 1878 — has gone backward and has narrowly avoided relegation out of the EPL on several occasions in recent years. The club currently sits 19th out of 20 teams in the EPL and is yet to win a game this season.
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