777 Partners, the proposed new owners of Everton, are scheduled to meet with the Premier League in the coming weeks to advance the completion process of the takeover. The Miami-based group reached an agreement to acquire Farhad Moshiri’s majority stake in Everton last September, and they are currently awaiting approval from the league to finalize the deal.
Both parties have mutually agreed to extend the deadline for the takeover completion due to the longer-than-expected approval process. Reports indicate that 777 Partners have allocated approximately £160m in working capital and new stadium funds for Everton, demonstrating their dedication to supporting the club.
With a portfolio encompassing Sevilla, Genoa, Hertha Berlin, and Standard Liege, 777 Partners have notable experience in managing multiple football clubs. Nonetheless, their involvement with Standard Liege has been met with criticism from supporters, as evidenced by recent protests following the club’s performance.
Initially projected for the fourth quarter of 2023, the completion of the takeover is contingent upon approval from the Premier League, FA, and the Financial Conduct Authority. The continued investment from 777 Partners is a response to discontent from some Everton fans with Moshiri’s ownership, which has led to protests at Goodison Park and a call for change in leadership.
Moshiri, a shareholder in Everton since 2016 and a majority shareholder since 2018, has emphasized the necessity of new investment and financing for the club’s new stadium at Bramley-Moore Dock. He views the partnership with 777 Partners as a significant opportunity for the club to progress and secure crucial financing for the new stadium, essential for Everton’s future success.
Josh Wander, Founder and Managing Partner of 777 Partners, has conveyed their commitment to collaborating with the Everton community to enhance infrastructure for the club’s men’s and women’s teams, with the goal of delivering positive outcomes for future generations of supporters. Additionally, they have expressed dedication to long-term projects with the local community, such as the transformation of Bramley-Moore Dock into a world-class stadium venue.
Sky Sports News reporter Vinny O’Connor has observed that the takeover process has been in progress for some time, with previous potential deals falling through. 777 Partners’ involvement represents a significant development for Everton, particularly as Moshiri has been seeking alternative funding options. Nevertheless, the takeover must undergo ratification by the Premier League, sanctioning by the FA and the Financial Conduct Authority, and ensure that all financial and contractual elements are in place.
The prospective takeover has evoked a mixed reaction among fans, with some expressing optimism for a new direction for the club, while others have reservations about the performance of clubs owned by 777 Partners. As the process unfolds, it will be crucial to monitor the impact of the new ownership on Everton’s future, both on and off the pitch.