April 25 – Premier League clubs continue to attract U.S. investment, with American billionaire Christopher Sarofim, a minority shareholder in the National Football League’s (NFL) Houston Texans, becoming the latest convert to the ‘round-ball game’.
Day-to-day control of the Toffees will remain with the Friedkin Group (TFG), who purchased the club from the wildly unpopular former owner, Farhad Moshiri, last year.
Sarofim (pictured), who is part of Fayez Sarofim and Co, manages assets worth an estimated $31 billion, and will join Roundhouse Capital, who run the club. With a personal worth of over $3.7 billion, he is expected to be the first of many new investors to join Everton’s ownership group.
Dan Friedkin, TFG’s chairman and CEO, said: “Christopher Sarofim is someone I have known and respected for many years. He brings experience, sound judgment and wisdom that will be valuable as we continue to drive the club forward in all areas.”
TFG has taken an active role in reducing the club’s debt, which was putting an immense strain on their ability to compete in the transfer market. They have agreed to a £350 million refinancing package to fund the new 52,888-capacity stadium at Bramley-Moore Dock – as the club say goodbye to their much-loved home, Goodison Park.
The timing couldn’t be better for Sarofim, as Everton have secured their Premier League safety thanks to the return of former boss David Moyes. Prior to the Scotsman’s arrival, Sean Dyche held the reins while the club was mired in what seemed like an endless loop of survival mode.
With their state-of-the-art stadium opening next season, optimism abounds around the blue half of Merseyside, which is particularly welcome given that their neighbors Liverpool, are about to win their 20th league title.
Contact the writer of this story, Nick Webster, at moc.l1745574444labto1745574444ofdlr1745574444owedi1745574444sni@o1745574444fni1745574444