A company from Miami called 777 Partners has agreed to take over Everton. This company is also involved with Sevilla, Hertha Berlin, and Standard Liege.
Everton has agreed to sell Farhad Moshiri’s entire stake in the club to 777 Partners.
The investors of multiple clubs have been talking to Everton’s main shareholder, Moshiri. This happened after the news that the New York group MSP Sports Capital had stopped its exclusive agreement with Moshiri, who owns 94.1% of the club’s shares.
The 777 group owns several football clubs, like Sevilla, Genoa, Hertha Berlin, and Standard Liege. However, some fans of Standard Liege expressed their dissatisfaction with the owners’ involvement during the last game.
The deal is expected to be completed in late 2023, pending approval from the Premier League, FA, and the Financial Conduct Authority.
Some Everton fans have not been happy with Moshiri’s ownership, despite him investing over £750m since 2016. Last season, these fans protested at Goodison Park, demanding the departure of Moshiri and the board.
Moshiri, a shareholder since 2016 and majority shareholder since 2018, said: “The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton over seven years ago. The days of an owner/benefactor are seemingly out of reach for most, and the biggest clubs are now typically owned by well-resourced PE firms, specialist sports investors or state-backed companies and funds.
“I have been open about the need to bring in new investment and complete the financing for our iconic new stadium at Bramley-Moore Dock, on the banks of the Mersey, which I have predominantly financed to date. I have spoken to a number of parties and considered some strong potential opportunities. However, it is through my lengthy discussions with 777 that I believe they are the best partners to take our great Club forward, with all the benefits of their multi-club investment model.
“As a result of this agreement, we have an experienced and well-connected investor in football clubs who will help maximise the commercial opportunities, and we have secured the complete financing for our new stadium, which will be the critical element in the future success of Everton. Today is an important next step in the successful development of Everton and I look forward to closely following as our Club goes from strength to strength.
“Of course, none of this could have been achieved without the hard work of everyone at the Club. From our team at the training ground, our commercial and support teams through to matchday employees, I extend my sincerest gratitude.
“And to our fans, the last few years have been challenging but you have supported the Club through it all and consistently been our twelfth man. You are the best fans and deserve success.”
Josh Wander, Founder and Managing Partner of 777 Partners, said: “We are truly humbled by the opportunity to become part of the Everton family as custodians of the Club, and consider it a privilege to be able to build on its proud heritage and values.
“Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men’s and women’s teams that will deliver results for future generations of Everton supporters. As part of this, we are committed to partnering with the local community over the long-term, working on important projects such as the development of Bramley-Moore Dock as a world class stadium venue, allowing thousands more Evertonians to attend our home matches and contribute to the economic and cultural regeneration of Merseyside.”
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