Game-Changing Deal Sealed: Everton Announces Groundbreaking Takeover Agreement with 777 Partners
Everton secures takeover deal with 777 Partners, a Miami-based group known for successful ownership of football clubs like Sevilla, Hertha Berlin, and Standard Liege Join us for the thrilling Everton vs Arsenal match on Sunday, live on Sky Sports Premier League from 4pm (kick-off at 430pm)
Everton has reached an agreement with 777 Partners for the complete acquisition of Farhad Moshiri's stake in the club. The multi-club investors have been engaged in talks with Moshiri, the majority shareholder, following the termination of the exclusivity agreement between Moshiri and New York group MSP Sports Capital. Moshiri currently owns 94.1 percent of the club's shares.
The 777 group currently owns a variety of football clubs, such as Sevilla, Genoa, Hertha Berlin, and Standard Liege. However, the fans of Standard Liege expressed their discontent towards the owners during their last game. The completion of the transaction is scheduled for the fourth quarter of 2023, but it still requires approval from the Premier League, FA, and the Financial Conduct Authority.
Despite Moshiri's ownership, which has seen an investment of over £750m since 2016, discontent among certain Everton supporters remains. Demonstrations were held at Goodison Park last season, with calls for both Moshiri and the board to step down.
Moshiri: 777 are best partners to take club forward
Everton's shareholder since 2016 and majority shareholder since 2018, Moshiri, acknowledged the substantial transformation in the ownership model and financing of top football clubs. He noted that the days of a single owner or benefactor supporting a club are now seemingly beyond reach for most. Instead, the largest clubs are typically under the ownership of well-resourced private equity firms, specialized sports investors, or state-backed companies and funds.I have consistently emphasized the importance of securing new investment and finalizing the funding for our highly anticipated new stadium at Bramley-Moore Dock, situated on the banks of the Mersey. Up until now, I have primarily financed this project. After engaging in discussions with various parties and considering numerous promising opportunities, I have concluded that 777 is the ideal partner to guide our esteemed Club towards a prosperous future, given the advantageous aspects of their multi-club investment approach.
Consequently, this partnership grants us access to an experienced and well-connected investor in the realm of football clubs, enabling us to capitalize on commercial prospects. Additionally, we have successfully obtained the full financing required for our forthcoming stadium, which will prove to be the crucial element for Everton's future accomplishments. This momentous occasion marks a significant milestone in Everton's prosperous journey, and I eagerly anticipate closely observing our Club's continuous growth and progression.
None of this would have been possible without the unwavering dedication of every single person at the Club. From our devoted training ground staff to our exceptional commercial and support teams, as well as our matchday employees, I am sincerely grateful for your hard work.
To our incredible fans, the past few years have posed many difficulties, but you have always stood by the Club, remaining our strongest source of support. You are nothing short of phenomenal, and your unwavering loyalty unquestionably deserves triumph and victory.
Everton
Arsenal
Sunday 17th September 4:00pm
Kick off 4:30pm
Josh Wander, the Founder and Managing Partner of 777 Partners, expressed deep gratitude for the chance to join the Everton family and take on the responsibility of preserving the Club. He considers it an honor to enhance its rich history and values.
The main goal is to collaborate with fans and stakeholders to establish robust infrastructure for both the men's and women's teams. This will ensure a bright future for generations of Everton supporters. Furthermore, a strong commitment has been made to engage with the local community on a long-term basis. This includes significant initiatives like transforming Bramley-Moore Dock into a top-notch stadium venue. By doing so, thousands more Evertonians will be able to attend home matches and contribute to the economic and cultural revival of Merseyside.
