Everton’s Farhad Moshiri agrees sale of club to American firm 777 Partners
Farhad Moshiri has signed an agreement to sell his entire stakeholding in Everton to American investment firm 777 Partners. Takeover talks between the British-Iranian billionaire and the Miami-based company had advanced after the collapse of a proposed equity deal with another American investment firm, MSP Sports Capital, which has loaned £100m towards the construction of Everton’s new stadium at Bramley-Moore Dock.
The two parties have now signed an agreement for a full takeover, which Moshiri claims will secure the funding to complete the 52,888-capacity stadium on Liverpool’s waterfront, although the deal remains subject to approval from the Premier League, the Football Association and the Financial Conduct Authority.
777 Partners has been embroiled in numerous controversies since being founded by Josh Wander and Steven Pasko in 2015, including allegations of fraud, which the company denies. Wander also pleaded no contest to a drugs charge in 2003.
The Premier League introduced a more stringent directors’ and owners’ test this summer which will be tested by 777’s attempt to add Everton to its stable of football clubs that includes Genoa, Sevilla, Vasco da Gama, Hertha Berlin, Standard Liège, Red Star in France and Melbourne Victory.
The purchase of Everton, which could be completed by the end of this year, would be its biggest acquisition to date. The company will also have to provide proof of funding to the Premier League.
Moshiri has invested over £750m in Everton since becoming a shareholder in 2016 and majority shareholder in 2018 but the club has gone backwards under his ownership. Everton have narrowly escaped two successive relegation battles and are without a win in the new Premier League season after
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