What U.S. company's acquisition of Premier League's Everton means 

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

TFG's purchase brings an end to Everton's turbulent financial situation. Years of debt accumulation under previous owner Farhad Moshiri —accelerated by Moshiri's ties to sanctioned parties in Russia-sympathizing countries (h/t The Athletic) — brought Everton to the brink of financial disaster. 

In the fall of 2022, Crowe UK, Everton's auditor, stated the club was at risk of dissolving altogether (h/t The Guardian). If it faced the financial hit of Premier League relegation, Crowe said, “a material uncertainty exists that may cast significant doubt over the group’s ability to continue as a going concern.”

Everton escaped relegation by a mere two points, as Abdoulaye Doucouré's stunning goal against Bournemouth secured the club's Premier League survival on the final day of the season.

This isn't TFG's first time investing in global soccer. It bought legendary Italian club AS Roma in 2020 and fourth-division French club Cannes in 2023. The company's management of Roma may provide insight into how it will run Everton moving forward.

Initially, TFG's leadership was met with fawning support from the Italian public. The company installed Jose Mourinho, the controversial but immensely popular Portuguese coach, as manager, and gave him flexibility to shape the squad as he pleased. Mourinho won the Conference League with Roma in 2022 and delivered the club its first trophy in years.

From there, though, TFG struggled to find stability. It dropped Mourinho after a string of bad results and hired club legend Daniele de Rossi as replacement. While TFG received plaudits for supporting de Rossi and giving him the cash he needed to improve Roma's lineup, it burned through that goodwill in weeks. TFG fired de Rossi after a string of poor results, leading many to wonder why it had given him such strong financial backing in the first place.

TFG bought back some credit by hiring Premier League-winning Italian coach Claudio Ranieri to replace de Rossi, but promptly lost it when stories of his hiring process broke. 

Ranieri is a Rome native who grew up supporting AS Roma, but TFG required him to fly to London to interview with its executive team rather than spending extra time at its local offices (h/t RomaPress). For many Roma fans, this gesture felt disrespectful toward Ranieri, AS Roma and the city of Rome itself. It left many wondering if TFG had any interest in — or understanding of — the wider Roman community.

For better or worse, the wider community is exactly what drew TFG to Everton.

"Whilst we are new to the Club, we fully understand the vital role Everton plays in local culture, history and the lives of Evertonians here and around the world," Friedkin in a statement. "We are deeply committed to honoring this legacy while contributing positively to the community, economy and people of this remarkable city."

TFG acquires Everton at a fascinating juncture. The club recently finished building a $950M stadium. There is plenty of overhead for TFG to work with as it seeks to improve the club's fortunes.

In the short term, however, TFG's focus is likely to be on stability and security over splashy new player signings. Everton is not expected to make significant moves in the January player transfer market.

Everton, which is 16th in the Premier League, will continues its season Sunday against second-place Chelsea.