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777 Partners, a Miami-based firm, nears finalizing complete takeover of Premier League club Everton | Football News


Sep 12, 2023

Miami-based 777 Partners is close to finalizing a deal to take over Everton. The multi-club investors have been in talks with Everton majority shareholder Farhad Moshiri since New York group MSP Sports Capital ended its exclusivity agreement with Moshiri. 777 Partners already owns several football clubs, including Sevilla, Genoa, Hertha Berlin, and Standard Liege. However, their involvement with Standard Liege has faced criticism from the Belgian club’s fans. The potential takeover by 777 Partners would be a complete acquisition, pending approval from the Premier League. This process could take several months to complete.

Despite Moshiri’s previous statement that the club was not for sale, it seems he is now open to selling Everton. Some Everton supporters have been dissatisfied with his ownership, and protests were held at Goodison Park last season calling for Moshiri and the board to step down. Everton’s current Premier League season has been disappointing, as they have only earned one point from their first four games, placing them in 18th position in the table.

The international break will be followed by a home game against Arsenal on Sunday. While the takeover by 777 Partners seems imminent, it is still expected to take a few months before it can be finalized.

If the takeover goes through, it could bring stability to Everton, which has faced funding issues in the past. Moshiri has invested over £750m since 2016 but has not seen a return on his investment. Additionally, there are ongoing concerns regarding the funding of Everton’s new stadium. The motives of 777 Partners are not entirely clear, but they have a reputation for acquiring clubs in financial distress and may seek to monetize Everton’s fanbase.

The Premier League will closely scrutinize 777 Partners during the takeover process, ensuring they have the necessary funds and verifying the source of their capital. While some traditional fans may be wary of the potential changes to the club’s values, the new owners may focus on improving player recruitment and turning Everton into a profitable and successful club.

777 Partners’ approach to ownership differs from a leverage buy-out style, and they may rely on a combination of borrowing and equity to finance the acquisition. The financial limitations of Everton due to Financial Fair Play regulations will impact the club’s ability to spend money on players, regardless of any funding available from 777 Partners.

Based on the significant financial investment Moshiri has made in Everton, both through loans and equity, his tenure at the club may be remembered as one where he underwrote substantial losses. He initially had good intentions for success but faced challenges in effectively allocating funds. The qualitative aspects of Everton’s performance have been a point of concern, and Moshiri’s financial contributions have not yielded the desired results.

By Editor

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