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Reports: Everton near takeover by 777 Partners

Club’s majority owner Farhad Moshiri will part with just a fraction of the money he has invested.

12 Sep 2023 Josh Sim
Everton is close to being taken over by US-based firm 777 Partners.

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  • A proposed minority investment deal between Everton and MSP Sports Capital collapsed in August
  • 777 has invested in numerous soccer clubs around the world

English top-flight soccer outfit Everton are close to being acquired by US-based 777 Partners, according to multiple reports.

Bloomberg, which was first to report of the proposed agreement, states that the club’s owner Farhad Moshiri will leave with just a fraction of the money he invested in the Liverpool-based club. Negotiations with the alternative investment firm are said to be at an advanced stage and the deal could still collapse.

However should the transaction be completed, it would mean half of the Premier League’s 20 clubs would be American-owned.

777 was first reported to be in talks to invest in Everton in February, with the Miami-based firm having invested in numerous soccer teams around the world. Its roster includes Spain’s Sevilla, Germany’s Hertha Berlin, Italy’s Genoa, France’s Red Star FC, Belgium’s Standard Liège and Brazil’s Vasco da Gama and it is also set to become the majority owner of Australian club Melbourne Victory.

The firm already has an investment in one UK sports property on its books, as it owns a 45 per cent stake in the British Basketball League (BBL) as part of a UK£7 million (US$8.72 million) investment.

Premier League mainstay Everton had previously entered an exclusivity agreement with New York-based firm MSP Sports Capital over a potential minority stake earlier this year. MSP was reportedly prepared to provide up to UK£150 million (US$187 million) in convertible debt that would become a stake of about 25 per cent in the Toffees.

However, talks broke down between both parties last month, allowing 777 to resume conversations with the club. 

SportsPro says…

Since taking over Everton seven years ago, Moshiri’s tenure has been characterised by poor decision-making and heavy spending, which has led to the team struggling on and off the pitch.

The club currently is preparing to face an independent commission next month, following an alleged breach of the top-flight’s financial fair play rules. Losing significant sponsorship deals with Russian companies USM, MegaFon and Yota hasn’t helped their financial reserves, while their new stadium at Bramley Moore Dock remains far from completion.

While this will be a failed investment for Moshiri, 777 will see this opportunity as a way to expand its multi-club portfolio to the Premier League. It will be the firm’s biggest acquisition to date – and fans will be expecting it to spend significantly to keep the team in England’s top flight. The company is reportedly seeking to raise more than €200 million (US$214.2 million) for its portfolio of clubs.

Given the investment firm’s extensive network of clubs, those wary of the increasingly popular multi-club ownership model will be concerned about the possibility of Everton signing and selling players from teams on 777’s roster for distorted fees.

777 has also faced allegations of fraud, kidnapping and extortion among other crimes, as detailed in a piece published by Josimar Football earlier this year. 777 denies all such accusations. 

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