American investment group 777 Partners are reportedly ready to strike a deal for Premier League club Everton. The two sides stalled in intense negotiations for months now. The final agreement should finalize the next few days. Still, there are hurdles to overcome.
Exact figures are not yet available. Bloomberg reports current Everton owner Farhad Moshiri will lose significant money on the deal. The British-Iranian businessman previously began investing in the Merseyside club in 2016. Moshiri then increased his stake in the team to 94% six years later.
Assuming the deal between Moshiri and 777 Partners is completed, half of the Premier League teams will have American majority owners. Manchester City is not currently one of these clubs, but United States investors do have an 18% stake in the Champions League winners.
US investment group adding Everton to long list of clubs
777 Partners is a Miami-based investment firm that was founded in 2015. The group currently has ties to a plethora of soccer clubs around the world. This includes Genoa (Italy), Standard Liege (Belgium), Red Star (France), Vasco de Gama (Brazil), Hertha Berlin (Germany), and Sevilla (Spain).
The American investors have had some mixed results in recent years with their current lineup of clubs. Genoa, in particular, has supposedly doubled their value since earning promotion to Serie A earlier this summer. Also, Vasco de Gama recently won promotion to the Brazilian top flight. However, Hertha suffered relegation back in May after finishing last in the Bundesliga.
New stadium key point in current negotiations
Everton could certainly use a change at the helm. The Toffees narrowly avoided relegation after the 2022/23 campaign and have had serious financial struggles under Moshiri. Nevertheless, current ownership has started to finance a state-of-the-art stadium for the club. The Bramley-Moore Dock stadium will finish during the 2024/25 season.
PHOTO: IMAGO & Action Plus
