Exciting Takeover Buzz Surrounds Everton: Enter 777 Partners Co-Founder Josh Wander

Everton will face their 209th Merseyside league derby at Anfield this week, filled with confidence and momentum from their recent triumph over Bournemouth. Manager Sean Dyche acknowledges that although results haven't always matched their improved performances, fans are witnessing a positive change on the pitch.

Yet, behind the scenes, a sense of uncertainty prevails among those connected to the club.

The majority shareholding of Farhad Moshiri is currently undergoing a regulatory process involving the Premier League, the FA, and the Financial Conduct Authority. Miami-based 777 Partners is in the process of taking over Moshiri's shares. This process is expected to be completed by the end of the year. However, there have been some negative stories circulating about 777 Partners since the announcement of the deal with Moshiri in September, which have caused some Everton supporters to be skeptical.

I acknowledge that they have already provided the club with up to £65m in funding, yet the company is hesitant to publicly discuss its detailed plans for the club and future investments. However, they express excitement about the prospect of becoming owners and assure that they will communicate more extensively at the appropriate time.

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Wander was speaking exclusively to We

Speaking exclusively to We News, Moshiri reaffirmed his conviction that the US group is the best option, stating, "The longer I've collaborated with the 777 team, the more certain I am that we have discovered the ideal individuals to lead the club into the modern age."

777 is known for its high level of professionalism and commitment to delivering on their promises. We are eagerly anticipating the successful attainment of all necessary regulatory approvals and their ability to complete the project according to our agreed timetable. In the meantime, 777 acknowledges the importance of following due process with authorities and therefore refrains from providing specific comments until that process is concluded.

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We reached out to co-founder Josh Wander regarding the Everton deal, but he declined to comment. However, he addressed the recent criticism from fans at Hertha Berlin and Standard Liege, as well as other negative headlines. He humbly acknowledged that they have made mistakes in the past and have gained valuable lessons from their experiences over the last few years.

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Simultaneously, I dare anyone to claim that we haven't enhanced the athletic and monetary achievements of each club we've invested in, all within a relatively short timeframe. The Fan Advisory Board sanctioned by Everton officially released a series of inquiries they wish to have addressed by the consortium before acquiring the club. Although we have already entered into private discussions with several stakeholders, it is crucial for us to prioritize responding to those questions as part of the regulatory procedure.

So who are 777 Partners?

777 Partners portfolio of clubs

They portray themselves as possessing an "extensive understanding of the industry, exceptional practical skills, and long-term financial backing to offer an unparalleled opportunity for founders, management, employees, and investors" - all of which will be indispensable for the acquisition of a Premier League football club.

They have approximately 60 companies across the globe engaged in various business sectors, with investments totaling approximately £12 billion. The foray into the Sports Business began with investments in sports rights and soon expanded to acquiring stakes in multiple football clubs, as well as investing in the British Basketball League and the London Lions.

777 individuals are currently engaged in seven different clubs as they persistently work towards constructing a multi-club model business. In this potential scenario, Everton could potentially become the foremost name in the industry, provided they receive approval for their takeover.

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Andriy Shevchenko was unsuccessful at Genoa

Among the seven clubs, Genoa, who ranked 18th in Italy's Serie A when they were acquired, received the most significant investment from 777. Their initial move was to appoint a renowned manager, Andriy Shevchenko, which proved unsuccessful. During his brief tenure, the ex-Chelsea striker achieved only one victory and suffered seven defeats. As a result, he was dismissed after a mere two months, and Genoa faced relegation in that season.

According to insiders, the aforementioned incident served as a valuable lesson for the new owners, who are unlikely to repeat the same mistake again. In order to rectify the situation, they sought the expertise of their U19 team manager, Alberto Gilardino, who successfully led them to promotion back to Serie A in his inaugural season as the first-team coach.

In an exclusive interview with We News, Genoa's CEO Andres Blazquez detailed the positive impact brought to the club by 777.

"We entered an extremely disorganized setting - a coach seeking an exit, a squad with minimal value comprised mostly of hastily recruited players that ended up costing over €10m in agent fees. Subsequently, it became evident that these acquisitions held no worth."

He further expressed, "Our aim was not solely to survive; rather, we established a team that aspires to improve. Our objective is not merely to achieve safety but to surpass it."

Numerous issues were present in this setting. The approach utilized here was highly authoritarian, with one individual making all decisions. Our aim was to transform this by introducing fresh individuals. We not only replaced some staff members but also unlocked the hidden potential within the existing team, ranging from receptionists to physiotherapists.

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Moshiri and chairman Bill Kenwright during happier moments.

"We are diligently working towards improving our financial standing. This year, we aim to achieve a significant milestone in Genoa's history, possibly for the first time in recent decades. By effectively managing costs and boosting revenues, we are on track to achieve a break-even point."

According to Filippo Grimaldi, a journalist from Gazzetta Dello Sport who has been covering Genoa for several years, the fans have embraced the new owners in a highly positive manner. Grimaldi stated that the Genoa fans had endured almost two decades of unsatisfactory management, which resulted in minimal achievements in recent seasons. However, the arrival of the 777 Partners has brought a renewed sense of positivity, especially due to the positive outcomes they have achieved so far.

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The atmosphere in Genoa has witnessed a significant improvement in recent times. In autumn 2021, the arrival of the 777 group in the city coincided with Genoa's relegation to Serie B. However, the subsequent season saw them skillfully navigate the transfer market, resulting in positive outcomes.

After achieving immediate promotion to Serie A, the team now boasts a significantly more competitive roster compared to previous seasons. Furthermore, the stadium fills up with a minimum of 32,000 devoted fans for every home game, a record-breaking occurrence in the club's history. Despite these successes, discontent has arisen from Hertha Berlin and Standard Liege supporters who have recently staged protests, specifically expressing their dissatisfaction with 777 Partners. Hertha fans are particularly displeased with the company's commercial aspects.

777 Partners company model explained

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Standard Liege fans call out 777 during their side's 1-1 draw with RWDM

The company's structure model significantly deviates from the traditional English football club model. Instead of following the conventional approach, they employ a CEO who answers to the 777 board. Their business is run with a collective "committee" style, where various aspects such as kit sales and player trading undergo thorough scrutiny, encouraging all participants to challenge and contribute to one another's suggestions and ideas.

The implementation of that model at Everton would bring about a significant transformation compared to previous and current setups. The club believes that adopting the multi-club model will yield advantages in various aspects, including financial expertise, as well as access to a vast talent pool for recruitment and scouting.

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A new owner is needed to take the club forward

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Moshiri is utilizing his entire funding for the stadium.

Don Dransfield, a member of the 777 team, previously held the position of Chief Strategy Officer at Manchester City and possesses extensive experience in navigating various clubs within a multi-club arrangement, along with knowledge of the Premier League.

Moshiri's ownership in the first four to five years has undoubtedly shaped the current state of the club. While there is no denying the billionaire's financial commitment during that period, the players brought in for inflated fees have created a squad imbalance that successive managers have struggled to rectify. Recruitment plays a pivotal role in determining success or failure in football, and despite substantial investments, the results have fallen short of expectations.

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Everton are preparing to bid farewell to their historic former stadium. During a recent visit to their training ground, Wander and Steve Pasko, the co-founders of 777, met with Everton manager Dyche and director of football Kevin Thelwell. It appears that they were deeply impressed by their meetings and were satisfied with the information they received.

In recent seasons, the Moshiri era's significant financial resources have depleted, as the businessman allocated all his funds to the construction of the stadium and the operational expenses of the club. Moreover, due to the ongoing conflict in Ukraine and the resulting sanctions, the support previously received from his longstanding business partner and friend, Alisher Usmanov, has ceased, including various sponsorship agreements.

A new owner is needed to lead the club into its new stadium by the River Mersey. 777 Partners aims to secure this role and win over the doubtful fans, encouraging their support throughout the journey.