Everton ‘to be sold for £600m to US investment fund 777 Partners’ with deal set to be agreed NEXT WEEK
EVERTON are reportedly set to be sold for £600million to a US investment fund amid their relegation scrap.
And the move could be completed by as early as NEXT WEEK.
Everton are reportedly on the brink of being soldGetty
GettyThey are set to fetch a fee of £600million[/caption]
PAFarhad Moshiri has a 94 per cent stake in the club[/caption]
According to the Daily Mail, 777 Partners are the preferred bidder, though they are insisting on a Premier League guarantee in order to complete a sale.
Everton, however, want the deal to be concluded at high speed.
The Miami-based firm prides itself on “identifying potential where others do not”, going so far as to call it one of its “defining traits”.
They are no strangers to football either, already having stakes in the likes of Sevilla, Genoa, Standard Liege and Vasco de Gama.
A key requirement in taking over the Toffees will be the next stage of investment towards the club’s new £505m 53,000-seater stadium at Bramley-Moore Dock.
Farhad Moshiri, who owns a 94 per cent stake in the club, has been unable to visit Goodison Park alongside fellow board members this season as a result of backlash from fans over Everton’s struggles.
They currently sit a point above the drop, with games against Wolves and Bournemouth left to help them secure their status.
Moshiri acquired a 49.9 per cent stake in Everton back in 2016 after selling his shares in Arsenal, with his stake rising to 94 per cent in January 2022.
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The British-Iranian businessman declared in January this year the club were “not for sale” amid rumours of a takeover, though did admit he was speaking to “top investors”.
The Mail’s report adds a second bidder, MSP Sports Capital, remained undeterred in the running on Wednesday evening with the group clear second favourites.
Set up by Josh Wander and Steve Pasko, 777 do not just dabble in football either.
Their portfolio also includes investment into the British Basketball League (BBL), and other industries such as aviation and insurance.
On their sports page, they add: “We uncover unique opportunities to help undervalued teams transform from clubs into highly profitable media and entertainment properties.”