Everton's potential owners: Alan Myers takes a look at what we know about 777 Partners and what we might expect

Everton have signed an agreement for 777 Partners to acquire Farhad Moshiri's full stake in the club; Sky Sports News' Alan Myers looks at what the deal could mean for the club; watch Everton vs Arsenal live on Sky Sports Premier League from 4pm on Sunday; kick-off 4.30pm

By Alan Myers

Saturday 16 September 2023 22:00, UK

Farhad Moshiri's decision to opt to sell his whole shareholding in Everton, which he has held since 2018, may have come as a bit of a surprise to some but the Monaco-based businessman has clearly concluded that it is in the best interests of the club and its future.

However, that was not his original intention, as he had at first searched for investment in the Premier League club.

As the failed deal with MSP Sports Capital suggested, initially the model was to bring in that investment whilst retaining a good part of the club.

The agreement with 777 Partners, a Miami-based investment broker, will see Moshiri cut his ties with the club after seven tumultuous years that at first offered a long-suffering fanbase hope of a new dawn, similar to that witnessed at Manchester City and more recently at Newcastle United.

What followed was anything but — despite Moshiri ploughing in several hundred million pounds.

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A perfect storm of poor management, erratic decisions and scattergun recruitment has plunged Everton into a financial black hole, one which resulted in a downward spiral that translated onto the pitch in the form of two relegation very-near-misses.

There is no doubt a major factor in the situation turning more serious was the war in Ukraine, and the subsequent freezing of income from sponsorship deals with Moshiri's long-time business partner