Three days ago  (15th July) I issued a detailed report on The Friedkin’s  ownership of Everton and their multi- club model. The article can be found here. The article also includes details of the regulatory environment relating to UEFA and multi-club ownership.

On the 16th July, the Friedkin Group, announced it has consolidated its professional sports investments under a new dedicated multi-club ownership vehicle called Pursuit Sports. This move signifies a formal and strategic approach to managing their growing portfolio of sports teams. I am thus providing an update to my original article

Pursuit Sports: Overview

“The launch of Pursuit Sports marks an exciting new chapter in The Friedkin Group’s vision to elevate and empower world-class sports organisations. Through this platform, we can do more than support our teams at a high level—we are investing in their long-term success by bringing together the full strength of our global expertise, resources, and pursuit of excellence,” said Dan Friedkin. “Dave Beeston is a proven, trusted leader who is steeped in wisdom and experience around how to build high-performance sports enterprises. Under his dynamic leadership, each of our clubs will be empowered to compete at the highest level while preserving the identity and passion that makes each of them unique.”

• Launch: Pursuit Sports was officially launched on July 16, 2025. A holding page exists at https://www.pursuit-sports.com/
• Purpose: It is dedicated to overseeing, supporting, and expanding The Friedkin Group’s professional sports properties. The aim is to centralise operations and scale performance across multiple teams, while still allowing each club to preserve its unique identity.
• Strategy: Unlike some multi-club models that create a hierarchical system for player development, Pursuit Sports emphasises empowering the leadership at each club and focusing on data-driven decision-making. They are primarily interested in acquiring control stakes in teams. The group is looking to emulate the success of multi-club entities like Fenway Sports Group (FSG) in terms of commercial alignment and sponsorship generation.

Key Personnel

• Dan Friedkin (Chairman, Pursuit Sports; Chairman & CEO, The Friedkin Group):
  • Role: As Chairman of Pursuit Sports, he reinforces his direct involvement in the strategic direction of the sports division. He is the ultimate leader and visionary behind The Friedkin Group’s ventures.
  • Background: American businessman and film producer. He is the Chairman and CEO of The Friedkin Group, founded in 1969 and headquartered in Houston, Texas. His diverse portfolio includes interests in automotive (Gulf States Toyota), luxury hospitality (Auberge Resorts Collection), entertainment (30WEST, Imperative Entertainment, NEON), investments (Copilot Capital, The Friedkin Group International), and sports. He also owns golf clubs (Congaree, Diamond Creek Golf Club) and is involved in the Air Force Heritage Flight Foundation. He acquired AS Roma in 2020 and Everton FC in December 2024.
• Dave Beeston (CEO, Pursuit Sports; Board Member, Pursuit Sports):
  • Role: Appointed Chief Executive Officer of Pursuit Sports, having begun his tenure on February 3, 2025. He is responsible for facilitating operational excellence across the existing teams and evaluating opportunities for expansion. He reports directly to Dan Friedkin.
  • Background: A seasoned sports industry executive. Prior to joining Pursuit Sports, he served as a Managing Director at Clearlake Capital Partners. Notably, he spent 11 years at Fenway Sports Group (FSG), where he held various key roles, including co-Head of Fenway Sports Management, Executive Vice President and Chief Strategy Officer of the Boston Red Sox, and Alternate Governor of the Pittsburgh Penguins. His experience at FSG involved overseeing commercial ventures, generating cross-sponsorship revenues, and being involved in significant investment deals such as Strategic Sports Group’s investment into PGA Tour Enterprises.
• Marc Watts (Executive Chairman, Everton Football Club; President, The Friedkin Group):
  • Role: Appointed Executive Chairman of Everton FC upon the Friedkin Group’s takeover. He is responsible for the day-to-day management of the club. He is also the President of The Friedkin Group.
  • Background: Former Vice Chairman and Managing Partner-Houston of Locke Lord LLP, with 26 years of experience in corporate and securities law and governance. He has held significant board positions including Chair of the Federal Reserve Bank of Dallas Houston Branch Board of Directors, 2018 Board Chair of the Greater Houston Partnership, and served on the boards of Service Corporation International and Highland Resources, Inc. He also serves on civic and community boards.
• Analaura Moreira-Dunkel (Chief Financial Officer, The Friedkin Group; Board Member, Everton FC):
  • Role: TFG’s Chief Financial Officer and serves on the board of Everton FC. She also served as a Roma board member since TFG’s takeover in August 2020.
  • Background: Active Director of ROUNDHOUSE CAPITAL HOLDINGS LIMITED (since October 2024) and previously a Director of COPILOT CAPITAL LIMITED (April 2023 – October 2024). Her high-level role as CFO of The Friedkin Group confirms a substantial professional background in finance.
• Eric Williamson (Executive Vice President of Business Development, The Friedkin Group; Board Member, Everton FC):
  • Role: President and General Manager of Gulf States Toyota and acts as a member of the Friedkin Executive Board, overseeing Friedkin Automotive Companies. He is also Executive Vice President of Business Development at The Friedkin Group and an acting Friedkin Executive Board Member of AS Roma Football Club and Imperative Entertainment. He serves on the boards of Congaree Foundation and the Air Force Heritage Flight Foundation, and the Greater Houston Partnership’s Transportation Committee. He is widely recognised as being an expert in change management.
• Ryan Friedkin (President, AS Cannes; Senior Vice President of Operations, AS Roma):
  • Role: Son of Dan Friedkin. President of AS Cannes and plays a significant operational role within AS Roma.

Ownership Details: Sports Portfolio

Pursuit Sports currently encompasses the following football clubs:

• AS Roma (Italy – Serie A):
  • Acquisition Date: August 2020.
  • Stake: The Friedkin Group holds a commanding 95.97% ownership stake.
  • Key Leadership (Friedkin Group): Dan Friedkin serves as the President of the club.
• Everton FC (England – Premier League):
  • Acquisition Date: December 19, 2024.
  • Stake: The Friedkin Group, via Roundhouse Capital Holdings Limited, holds 99.5% of the club’s shares. This followed an initial acquisition of Farhad Moshiri’s 94.1% share and an immediate recapitalisation.
  • Key Leadership (Friedkin Group): Marc Watts (Executive Chairman), Dan Friedkin (Proposed Chairman of the Board), Analaura Moreira-Dunkel (Board Member), Eric Williamson (Board Member), Colin Chong (Board Member – interim CEO at time of acquisition).
• AS Cannes (France – Championnat National 2, French fourth tier):
  • Acquisition Date: June 26, 2023.
  • Stake: The Friedkin Group holds a majority stake.
  • Key Leadership (Friedkin Group): Ryan Friedkin serves as President.

The Friedkin Group has also been linked with potential expansion into North American sports, including reported interest in a Houston-based NHL expansion franchise and being among the final bidding parties for the NBA’s Boston Celtics.

Relationship with Roundhouse Capital

Roundhouse Capital Holdings Limited is a crucial entity within The Friedkin Group’s ownership structure for its sports assets.

• Role: Roundhouse Capital Holdings Limited is the direct legal entity through which The Friedkin Group acquired and holds its majority ownership in Everton Football Club.
• Ownership: Roundhouse Capital Holdings Limited is owned by Toffee Investments LLC, which is registered at The Friedkin Group’s headquarters address in Houston, Texas. Dan Friedkin is named as the “Individual Person with Significant Control” in Roundhouse Capital Holdings, indicating he holds, directly or indirectly, 75% or more of the shares and voting rights, and has the right to appoint or remove a majority of the board of directors. Christopher Sarofim is recognised as a significant shareholder under Premier League rules – signifying an equity stake in excess of 9.9%.
• Strategic Function: The use of Roundhouse Capital for the Everton acquisition allowed The Friedkin Group to manage the transaction in alignment with Premier League regulations, including converting outstanding debt owed by Everton into equity and facilitating additional equity investment. This step was taken proactively due to changes in the Premier League’s shareholder loan regulations and Associated Party Transaction (APT) rules, ensuring the club’s financial stability and avoiding negative implications on its Profit and Sustainability Rules (PSR) position.
• Key Personnel: Analaura Moreira-Dunkel, TFG’s Chief Financial Officer, and Marcus Watts, President of TFG, were registered as the initial company directors for Roundhouse Capital Holdings. This signifies its direct link and integral role within the broader Friedkin Group’s financial and investment strategy for its sports division.

In essence, Roundhouse Capital acts as a specific investment vehicle under the umbrella of The Friedkin Group and its newly formed Pursuit Sports, primarily for the strategic acquisition and financial management of Everton FC, and potentially other future sports investments.