The Friedkin Group has completed its takeover of Everton and brought the turbulent era of Farhad Moshiri to an end.

A US company owned by the Texas billionaire Dan Friedkin agreed a complex deal in September and is taking a 98.8% stake. It has received regulatory approval from the Premier League, Football Association and the Financial Conduct Authority to add Everton to its football portfolio alongside Roma, and takes to 11 the number of Premier League clubs owned or part-owned by an American investor.

The Premier League said: “The Premier League board has approved The Friedkin Group’s 98.8% acquisition of Everton Football Club, following the completion of the league’s owners’ and directors’ test.

“Having been agreed by the board, the takeover has now been ratified by an independent oversight panel. The club’s new owners and directors have also signed the Premier League’s owners’ charter.”

Everton said: “Everton Football Club acquired by Roundhouse Capital Holdings Limited, part of The Friedkin Group.”