777 inks deal for Everton takeover

In a calculated move to secure the future of Everton Football Club and propel it into a new era of financial stability, British-Iranian businessman Moshiri has embarked on a quest for strategic investors. The primary objective behind this quest is to secure the necessary funding required to complete the club’s ambitious £550 million ($685 million) stadium project at Bramley-Moore Dock, scheduled for inauguration in the upcoming season.

The 777 Partners boasts a diverse portfolio encompassing ownership and stakes in prominent football entities such as Sevilla, Genoa, Hertha Berlin, Standard Liege, France’s Red Star, and Melbourne Victory. This consortium brings with it a wealth of experience and resources, primed to breathe new life into Everton’s aspirations.

Despite Moshiri’s notable investment in Everton since assuming majority ownership in 2016, the club has grappled with an underwhelming track record on the pitch. An expenditure exceeding £500 million on player acquisitions yielded relatively little positive impact, leading to precarious near-misses with relegation in the past two seasons. The current Premier League campaign commenced on a muted note, with the Toffees amassing just a solitary point from their opening four fixtures.

In his statement, he alluded to the shifting landscape of football ownership, where the traditional benefactor-owner model is becoming increasingly elusive. The mantle of ownership for elite clubs is now typically shouldered by well-capitalised private equity firms, specialised sports investors, or state-backed enterprises and investment funds.

In light of these realities, he stated that he firmly believes that 777 Partners represents the ideal partners to steer Everton towards a brighter future. The group’s multi-club investment model promises to infuse the club with fresh perspectives and ample resources.

Pending the requisite approvals from football and financial regulatory bodies, the potential deal holds the prospect of adding Everton to the growing list of Premier League clubs with American ownership. If given the green light, this development would see ten out of the twenty Premier League clubs under American ownership, marking a notable trend in the evolution of football’s financial landscape.

As Everton enthusiasts eagerly await the outcome of these negotiations, the club stands at a crucial juncture in its history, poised to redefine its trajectory under the auspices of 777 Partners. The Everton faithful will be watching with bated breath as this strategic partnership unfolds, with aspirations of revitalising the club’s fortunes and securing its legacy on the global football stage.

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