The Texas-based Friedkin Group completed its 98.8% purchase of Everton, adding the storied Premier League club to its wide-ranging portfolio of investments including Italian team Roma.

It ends a long period of huge uncertainty at Everton, a nine-time English champion which has been an ever-present in the top division since 1954 but is without a major trophy since 1995.

Fronted by Dan Friedkin and his son Ryan, the group has investments in the automotive industry, entertainment, hospitality and sports. The Friedkins made a fortune distributing Toyotas in Texas.

They take over from Everton’s majority shareholder, Farhad Moshiri’s Blue Heaven Holdings.

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

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Everton said the club had been acquired by Roundhouse Capital Holdings Limited, an entity within the Friedkin Group.

The Premier League said the purchase was approved following the completion of its owners’ and directors’ test, and the group had reached an agreement over the sale terms in September.

Everton are 16th in the 20-team league and now become the 10th English top-flight outfit under majority American ownership.

The Liverpool-based club, who are leaving Goodison Park at the end of the season for a new stadium, entertain Chelsea in the Premier League on Sunday in their next fixture.