777 Partners Takes Control of Everton Football Club in £550 Million Deal

777 Partners Takes Control of Everton Football Club in £550 Million Deal

In a monumental move, 777 Partners, a US private equity firm, has acquired Everton Football Club for £550 million. The deal involves the purchase of British-Iranian billionaire Farhad Moshiri’s substantial 94.1 percent stake in the club, with finalization slated for the end of the year.

Miami-based 777 Partners has pledged to uphold Everton’s rich heritage and cherished values.

This acquisition adds Everton to 777 Partners’ expanding football club portfolio, which already includes Genoa in Italy, Standard Liege in Belgium, and stakes in La Liga’s Sevilla and the Australian A-League’s Melbourne Victory. The firm’s growing influence in global football signifies its strategic intent to become a major player in the sport.

The development comes at a critical juncture for Everton, currently positioned 18th in the Premier League standings and grappling with a four-game winless streak at the outset of the season. The club’s struggles on the field mirror their financial woes off it. Everton has been confronting formidable financial hurdles, enduring five consecutive years of losses amounting to over £430 million.

Adding to their challenges, Everton faces an ongoing investigation into alleged breaches of Premier League financial fair play regulations, with an independent commission set to convene next month. The potential penalties from this investigation could further complicate the club’s efforts to stabilize its finances and performance.

The infusion of capital from 777 Partners is anticipated to fortify Everton’s financial stability. It will also ensure the complete funding of their ambitious new stadium project at Bramley Moore-Dock in Liverpool. The state-of-the-art stadium is seen as a cornerstone of Everton’s future, promising to boost revenue and enhance the matchday experience for fans. Everton has committed to collaborating with the local community and transforming the stadium into a world-class venue.

“We are thrilled to join the Everton family and are committed to upholding the club’s storied legacy,” said a representative from 777 Partners. “Our investment aims to bring stability and growth, ensuring Everton’s future both on and off the pitch.”

Everton fans are hopeful that the new ownership will provide the much-needed support to navigate through the current challenges and restore the club’s former glory. The takeover has sparked optimism among the fanbase, with many looking forward to a new era of success and stability under 777 Partners’ stewardship.