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Everton nears acquisition by 777 partners, ending Moshiri's turbulent era

Posted : 12 September 2023
Premier League strugglers Everton are on the brink of being acquired by Miami-based investment firm 777 Partners, signaling the possible end of owner Farhad Moshiri's tumultuous tenure. The financially troubled Toffees resumed negotiations with the American company after talks with MSP Sports Capital fell apart in August.
 
Despite Everton's long-standing search for investment, the deal is not yet finalized. The club has faced financial difficulties, posting losses for five consecutive years and accumulating cumulative losses exceeding £430 million over the past half-decade.
 
The club's financial woes are compounded by ongoing construction of a new stadium at Bramley Moore Dock, with costs potentially reaching £760 million, a significant increase from previous estimates. Everton's financial fair play compliance is also under scrutiny, as they will face an independent commission next month for an alleged breach of the Premier League's financial fair play rules. The club has vehemently denied any wrongdoing and expressed readiness to vigorously defend their position.
 
Farhad Moshiri, who has invested over £750 million since 2016, will potentially step aside as the new ownership takes charge. Toffees fans have voiced their discontent with his ownership, leading to protests before some home games last season.
 
In the midst of these changes, Everton's performance on the pitch has also suffered, with the team currently in 18th place in the Premier League, having garnered only one point from their first four games of the season. The sale to 777 Partners represents a significant shift in the club's ownership landscape, with hopes for stability and financial recovery on the horizon.

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