Everton Nears Takeover Agreement with 777 Partners

10 months ago

Everton Football Club is on the cusp of a transformative change as American investment firm 777 Partners inches closer to securing a takeover deal. This development comes after persistent efforts by the current owner, Farhad Moshiri, to relinquish his ownership of the club. In this article, we delve into the details of this impending takeover and its potential implications for the historic club.

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Exploring the 777 Partners Takeover

The emergence of 777 Partners on the Everton takeover scene signifies a significant shift in the club's ownership landscape. Let's delve deeper into the key aspects of this prospective deal:

777 Partners, an American private investment firm, has been actively expanding its presence in the football world. With existing stakes in clubs like Genoa, Sevilla, Hertha Berlin, Vasco da Gama, and Melbourne Victory, they bring a wealth of experience to the table.

Moshiri's Quest to Relinquish Control

Farhad Moshiri, Everton's current owner, has been in search of a suitable buyer for the club for some time. Previous negotiations with MSP Sports Capital fell through, leading Moshiri to explore alternative avenues. The talks with 777 Partners now appear to be the closest Everton has come to changing hands.

While the prospect of a takeover seems promising, Everton's transition to new ownership is far from a done deal. A significant obstacle lies in the form of the Premier League's rigorous directors and owners' test. This stringent examination will assess the credentials and intentions of 777 Partners before any official handover can occur.

Moshiri's tenure as Everton's owner, dating back to 2016, has been marked by ups and downs. Notably, the loss of backing from former business partner Alisher Usmanov had a substantial impact on the club's financial stability. Usmanov's sanctions following Russia's invasion of Ukraine dealt a significant blow to Everton's resources.

Challenges Beyond the Takeover

Even as the takeover looms, Everton finds itself grappling with various off-field challenges. An upcoming independent commission will scrutinize the club's alleged breach of Premier League Financial Fair Play rules, a situation that Everton vehemently denies. Additionally, the club's financial woes are evident, with five consecutive years of losses and a substantial debt burden approaching £250 million.

Everton's ambitious plans include the construction of a new stadium at Bramley Moore Dock, slated to open in the upcoming season. However, the total cost of this endeavor, exceeding £750 million, is a financial commitment that will rest on the shoulders of the club's new owners.

As Everton inches closer to a takeover agreement with 777 Partners, the club stands at a crossroads. While the potential change in ownership holds promise, significant hurdles lie ahead, including Premier League scrutiny and the burden of financial challenges. The fate of this storied football club hangs in the balance, awaiting the resolution of these crucial developments.

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