The American investment firm that had been in talks with Everton owner Farhad Moshiri over a potential takeover are seeking to raise €200m (£171m) for its football portfolio.
Miami-based 777 Partners held talks with Moshiri and his representatives with regard to an equity stake in the Blues before Moshiri entered into an exclusivity agreement with New York fund MSP Sports Capital over a 25 per cent deal via a preferential share structure, which are effectively loans with warrants that could be turned into equity.
It is understood that 777 Partners, who had considered a full takeover of Everton, wanted greater assurances over Premier League status being secured, while MSP’s desire to be a junior partner in any deal, with the focus being on the upside of the stadium build at Bramley-Moore Dock and bringing considerable business building expertise, were the preferred option for Moshiri.
The deal with MSP is fully expected to go through later this summer, while 777 Partners have now moved on from their interest in the Blues and have set their sights on acquiring another club to add to their growing portfolio, with the desire to purchase a Premier League club understood to be strong. Among those who are reportedly of interest to 777 are West Ham United and newly-promoted Sheffield United.
READ NEXT: James Tarkowski reveals the Premier League title Sean Dyche wants Everton to have
Sean Dyche shares fresh transfer update as Everton target summer deals
According to Bloomberg, 777 are looking to raise as much as €200m for their football investments by tapping into the interest in the sport, which has seen a flood of private equity capital arrive in recent years from investors buoyed by booming media rights and the continued
Read on liverpoolecho.co.uk