Premier League: 777 Partners agree Everton takeover deal as Farhad Moshiri sells majority stake

Everton owner Farhad Moshiri has agreed to sell his majority stake to 777 Partners, the Premier League club announced on Friday.

The American investment fund have acquired Moshiri’s full 94.1% stake and the deal is expected to be completed before the end of the year, subject to approval from the Premier League, the FA and the Financial Conduct Authority.

Everton become the eighth club to join the 777 Football Group, which also includes Genoa, Hertha Berlin, Sevilla, Vasco de Gama, Standard Liege, Red Star FC and Melbourne Victory.

“The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton over seven years ago,” said Moshiri as part of an open letter to Everton shareholders.

“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.”

Moshiri became a shareholder at Everton in 2016 and took control in 2018.

However, the Toffees have struggled on the pitch during that period, failing to qualify for Europe or win trophies, and flirting with relegation to the Championship in the last two seasons.

“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,” said 777 Partners founder Josh Wander.

“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.”

Everton return to Premier League action against Arsenal at Goodison Park on Sunday.

Sean Dyche's side are 18th in the standings after picking up one point from their first four games.

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