Everton takeover: Farhad Moshiri agrees to sell the club to American firm 777 Partners
Everton has been sold to 777 Partners, the U.S. equity firm will take over from Farhad Moshiri in a deal reportedly worth more than £550 million.
Farhad Moshiri is a British-Iranian businessman who owns 94.1% shares of the Premier League club. But now, he will sell his entire stake to 777.
The 777 Partners has also invested in other clubs like Sevilla, Hertha Berlin, Genoa, Vasco da Gama, Standard Liege, Red Star and Melbourne Victory. Moshiri, a former Arsenal shareholder, first bought a 49.9% stake in Everton in 2016. However, in 2022, he increased his stakes to 94.1% following a £100 million capital injection.
But despite investing nearly €750 million in transfers, the Toffees are unable to build a winning squad. Furthermore, they have slipped out of the top half of the table and have fought relegation battles in recent seasons.
Everton takeover completed by U.S. firm 777 Partners
In the club’s statement on the sale, Moshiri said he believed 777 Partners “are the best partners to take our great club forward, with the benefits of their multi-club investment model.”
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.”
The sale of Everton is expected to be completed by the end of 2023. Furthermore, this takeover would mean that half of the 20 top-flight clubs are American-owned.
Moreover, Everton sit 18th in the Premier League table with just one point in the first four games of the new season. The Toffees will face Arsenal at the Goodison Park this weekend.
