Best Odds Center
best odds centre button
Click here!
Sport TV
watch live tv button
Click here!
to watch
Live FootBall
NPFL
Click here!
Live Scores
play watch Live Score button
Click here!

American investment fund 777 partners set to acquire majority stake in Everton

Posted : 15 September 2023
Premier League club Everton is set to undergo a change in ownership as Farhad Moshiri has agreed to sell his 94% stake in the club to American investment fund 777 Partners. The takeover, pending approval from the Premier League, Football Association, and Financial Conduct Authority, marks the end of Moshiri's tumultuous tenure since his initial investment in 2016.

Upon completion, this deal will bring the tally of American-owned top-flight clubs in the Premier League to half of the 20 teams. Moshiri acknowledged the evolving landscape of football club ownership, highlighting the shift away from owner-benefactors to well-resourced private equity firms, sports investors, or state-backed entities.

777 Partners' founder, Josh Wander, expressed humility at the opportunity and pledged to work closely with fans and stakeholders to enhance both the men's and women's teams' sporting and commercial infrastructure. Their primary objective is to deliver results for future generations of Everton supporters.

The club currently faces challenges, lying in 18th place in the Premier League after a slow start to the season. Financial struggles, narrowly avoiding relegation in recent years, and an upcoming independent commission hearing regarding alleged breaches of Financial Fair Play rules have added to their woes. Everton is also in the process of constructing a new stadium, which could cost up to £760 million.

Moshiri emphasized the need for new investment to complete the financing for the Bramley-Moore Dock stadium project. He identified 777 Partners as the ideal partners to take the club forward due to their multi-club investment model.

Wander reiterated their commitment to the local community, especially with projects like the Bramley-Moore Dock stadium, which is expected to contribute to the economic and cultural regeneration of Merseyside.

ADD A COMMENT :

Hot Topics

close button
Please fill captcha :