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(Bloomberg) — Everton FC is deepening its connection with Texas, after Christopher Sarofim became a minority investor in the Premier League club’s parent.
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The Liverpool-based team was bought last year by Houston-based billionaire Dan Friedkin, whose wealth stems from running one of only two remaining private Toyota distributors in the US.
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Sarofim, chairman of US fund manager Fayez Sarofim & Co and part-owner of the Houston Texans, is investing in Roundhouse Capital Holdings Limited, which controls Everton, according to a statement.
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Sarofim’s stake wasn’t disclosed, but it’s below the 10% threshold where new owners are required to be vetted by the Premier League, according to a person familiar with the deal.
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Both Friedkin and Sarofim have strong links to Texas. Sarofim, 61, is the son of Fayez Sarofim, the Egyptian-born Texas money manager who became a billionaire through an investment strategy he summarized as “never sell.”
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Fayez Sarofim, who died in 2022, founded his eponymous fund manager in 1958 at the age of 30. He was part of the group led by Richard Kinder, chairman and co-founder of Kinder Morgan Inc., that paid $22 billion to buy the Houston-based pipeline transportation and energy-storage company in 2006.
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The Friedkin Group is open to adding more investors to Everton’s ownership group, the person added. In 2020, Friedkin paid $591 million for Roma, one of Italy’s most famous clubs. The UK’s Guardian newspaper first reported the stake sale to Sarofim.
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