Everton sold to Miaimi private equity firm 777

Everton Football Club announced that Miami-based private equity firm 777 Partners has signed an agreement with Farhad Moshiri to acquire his 94.1% stake in the club.

The deal is thought to be worth more than £550 million.

Investment firm 777’s “Football Group” currently comprises Genoa C.F.C. in Italy, Vasco da Gama in Brazil, Hertha BSC in Germany, Standard de Liege in Belgium, Red Star FC in France, Sevilla FC in Spain, and Melbourne Victory FC in Australia.

Everton is currently building a new 52,888-capacity stadium at Liverpool’s Bramley-Moore Dock.

Closing of the transaction is expected to occur in the fourth quarter of 2023 and the deal remains subject to regulatory approval, including from the Premier League, the Football Association and the Financial Conduct Authority.

Moshiri, an Everton shareholder since 2016 and majority shareholder since 2018, said: “The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton over seven years ago.

“The days of an owner/benefactor are seemingly out of reach for most, and the biggest clubs are now typically owned by well-resourced PE firms, specialist sports investors or state-backed companies and funds.

“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.”

Josh Wander, founder and managing partner of 777 Partners, said: “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.”