As per Sky Sports News, multi-club investment firm 777 Partners are close to agreeing a deal to take over as new owners of Everton.
The Miami-based firm are said to have been in talks with Everton’s current owner Farhad Moshiri for a while, and have been looking to strike a deal following the collapse of the club’s exclusivity agreement with MSP Sports Capital.
MSP had previously signed this agreement with Moshiri, putting them in the pole position to provide investment into the Merseyside club. The investment was set to be in the form of an £100m loan to go towards the construction of their new stadium, as well a £150m in convertible debt, in return for a 25% stake in the club
However, despite still providing the £100m loan, MSP decided to withdraw from talks over a minority stake following the expiration of the exclusivity agreement- due to opposition from Everton’s current lenders, as per The Athletic.
Meanwhile, it is understood that the new potential agreement with 777 would see them exercise a full takeover of the Toffees, as the firm look to add to their already significant portfolio of football clubs- which includes Hertha Berlin, Standard Liége, Genoa, Vasco Da Gama, Red Star F.C, as well as a minority share in Europa League holders Sevilla.
The takeover may not be official for several months however, as it would be required to pass all Premier League requirements and regulations before being completed, such as the Owners’ and Directors’ test.
If it were to go through, it would come as a significant financial boost for Everton as they look to complete the construction of their new Bramley-Moore Dock stadium, which, although initially projected to cost £500m, has been estimated to now cost roughly £760m, with the building now now expected to be finished in late 2024.
Meanwhile, 777 would be taking over with The Blues currently being subject of an independent inquiry over an alleged breach of Financial Fair Play regulations in the 2021-22 season- which was was due to reported losses of £417m between 2018 and 2022; a figure well above the £105m losses the league’s profit and sustainability regulations allow over a three-year period.
As for on-the-pitch, having failed to win any of their opening four league fixtures, Sean Dyche’s side now look set for a third successive relegation battle in the English top flight this season, and they will face a tough test in their first game back following the international break this Sunday September 17, as they host Mikel Arteta’s Arsenal at Goodison Park.
Travis Levison | Get Football