Everton agrees sale to American investment company 777 Partners
Everton have announced that Miami-based investment fund 777 Partners has agreed to buy out Farhad Moshiri's entire ownership position in the Premier League team, which represents 94.1% of the shares.
The acquisition will put an end to the troubled reign of British-Iranian Moshiri, who made his initial investment in Everton in 2016.
The acquisition is still awaiting regulatory approval from the Premier League, the Football Association, and the Financial Conduct Authority but is anticipated to close in the fourth quarter of 2023.
Former Everton owner Farhad Moshiri 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.”
As a result of the acquisition, Everton will join the portfolio of the 777 Football Group, which already includes Genoa C.F.C, Hertha BSC, Melbourne Victory FC, Red Star FC, Sevilla, Standard de Liege, and Vasco da Gama.
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