Everton’s much-maligned owners have agreed a deal to sell the club to US private investment firm 777 Partners.
Toffees majority shareholder Farhad Moshiri is an unpopular figure on Merseyside with the club continually flirting with relegation in recent years.
The British-Iranian billionaire has invested more than £750m since 2016 but poor signings and failing managerial appointments has seen Everton go backwards.
His ownership led to several protests before games at Goodison Park last season calling for his removal.
Moshiri publicly denied that he put Everton up for sale in January, but he has now confirmed that he is relinquishing control.
He said: “I have been open about the need to bring in new investment and complete the financing for our iconic new stadium at Bramley-Moore Dock, on the banks of the Mersey, which I have predominantly financed to date.
“I have spoken to a number of parties and considered some strong potential opportunities. However, it is through my lengthy discussions with 777 that I believe they are the best partners to take our great Club forward, with all the benefits of their multi-club investment model.
“As a result of this agreement, we have an experienced and well-connected investor in football clubs who will help maximise the commercial opportunities, and we have secured the complete financing for our new stadium, which will be the critical element in the future success of Everton.
“Today is an important next step in the successful development of Everton and I look forward to closely following as our Club goes from strength to strength.”
But who are the Miami-based firm and would this be their first foray into football? talkSPORT.com takes a look…
Who are 777 Partners and who else do they own?
777 Partners is an American private investment company that aim to provide growth capital for the businesses that they pump money in.
Founded in 2015, 777 have a varied portfolio of investments that include sports, insurance, entertainment and aviation among others.
The firm, who are worth around £8billion, already have stakes in seven other football clubs – the most notable being Sevilla in Spain.
Serie A’s Genoa, Belgium side Standard Liege, French team Red Star, CR Vasco da Gama in Brazil, Bundesliga outfit Hertha Berlin and Melbourne Victory in Australia are also on their books.
777 co-founder Josh Wander told L’Equipe in September 2022: “777 Partners is a company based in Miami, we are a holding – I insist – we are not an investment fund.
“We have six main areas we work in: insurance, aviation, sport, media, and entertainment. We support many companies around the planet but not to investment funds – I am in charge of the business and there are no other external investors.
“What is important in our eyes is not to build a club which generates profit just for the sake of profit.
“We want clubs that are capable of living and developing over a number of decades.”
777 have come under scrutiny, however, with many of the clubs under their ownership struggling since their takeovers.
Standard Liege fans recently held up banners criticising the firm’s involvement during the club’s 1-1 draw with RWD Molenbeek.
The Mail have reported that the government have expressed concerns about 777 Partners, who have ongoing involvement in several court cases in the US.
777 manager Wander will also be subject to the Premier League’s owners’ and directors’ test, having been arrested in 2003 for cocaine trafficking when he was a student at the University of Florida.
In an interview with the Financial Times, Wander said: “It was a stupid college thing.
“So all of the success that I’ve had has been in spite of the fact that every time I’ve tried to do something, somebody brings that up and throws it in my face.
“And when I got involved in investing in sports, it became a perfect opportunity for those people that are haters to try to destroy you with things that are somewhat meaningless.”
After the deal to buy Everton was announced, Wander said: “We are truly humbled by the opportunity to become part of the Everton family as custodians of the Club, and consider it a privilege to be able to build on its proud heritage and values.
“Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men’s and women’s teams that will deliver results for future generations of Everton supporters.
“As part of this, we are committed to partnering with the local community over the long-term, working on important projects such as the development of Bramley-Moore Dock as a world class stadium venue, allowing thousands more Evertonians to attend our home matches and contribute to the economic and cultural regeneration of Merseyside.”
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