With 17th-place Everton clinging to its Premier League status, US investment fund 777 Partners is close to buying the club and ending current owner Farhad Moshiri’s miserable tenure.
As Mail Sport reported earlier on Wednesday night, a deal is expected to be finalized next week, and the Toffees will ask for a fee of around $749m (£600m), despite the club’s weak position in top-flight football.
And while 777 are reportedly demanding a Premier League guarantee in the deal, they could well be the next owners tasked with rejuvenating a club that has left Moshiri in abysmal shape.
Here, DailyMail. com looks at the questions surrounding 777.
Farhad Moshiri is said to be nearing the sale of the club he bought in 2016
And Josh Wander, one of the managing partners at 777, could soon be put in charge of the club
Who are they?
Based in Miami, Florida, 777 was founded in 2015 and is led by managing partners Steven Pasko and Josh Wander.
The company’s website describes its mission statement as “build[ing] a self-sufficient company that does not rely on banks and outside investors to overcome the inherent compromises they saw in the prevailing model.”
And while 777 has built a formidable fleet of sports franchises (more on that later), it’s involved in other industries as well.
The company has aviation in its portfolio, while insurance and fintech also belong to that group.
Wander is seen before a match between Standard de Liege and Royale Union Saint-Gilloise
Then Genoa head coach Alexander Blessin (C) joked with Steven Pasko and Wander last year
What are they worth?
According to a Liverpool echo April report, 777 has more than $6 billion in assets under management.
Of course, that number would skyrocket if they added Everton to their portfolio.
Which clubs do they already have?
If Everton are bought by 777, the club will join an already impressive roster of teams in the company’s stable.
The investment fund owns Bundesliga side Hertha Berlin, Italian club Genoa, Brazilian side Vasco da Gama, Belgian side Standard Liège and French third division team Red Star.
In addition, the company owns a piece of Sevilla and bought the British basketball club London Lions in 2021, before taking a 45 percent stake in the British Basketball League a year later.
It also agreed a five-year deal to take control of the Melbourne Victory in January.
Vasco’s Pedro Raul celebrates with teammates after his goal against Fluminense on May 6
Everton have struggled mightily over the past two seasons and face another battle to stay afloat
While 777 has experience in football, a deal for Everton worth around $749 million would probably be by far the biggest it has struck.
777 paid $137 million last year for a 70 percent stake in Vasco da Gama, a reported $175.80 million for Genoa in 2021, and also just $9.2 million for a 45 percent stake in the British Basketball League in 2021.
As of March, they also own a 64.7 percent majority stake in Hertha Berlin, although the terms of the deal have not been made public.
Further is in March Bloomberg reported that 777 had held ‘exploratory talks’ with Newcastle United venture capital firm PCP Capital Partners, co-owner of Amanda Staveley.
The talks were reportedly in view of an investment by PCP in the US company’s multi-club model, something Newcastle is reportedly looking into.
What kind of success have they had at other clubs?
In the same year that 777 bought Vasco, considered one of Brazil’s biggest clubs, the team returned to the country’s top flight after previously being relegated to the second division.
Genoa will also return to Serie A next season, after finishing 19th last year and being relegated to Serie B.
Red Star could soon follow as they are in fourth place and are currently just two points away from promotion into the French third division.
Genoa were promoted back to Serie A after being relegated to Italy’s second division
But Hertha BSC is likely to drop back to 2. Bundesliga as they are last with two games left
777 will almost certainly start their first full season with Hertha in the 2. Bundesliga, but the club are in last place with just two games left.
And in other sports, the London Lions won the BBL championship this season, their first since 2018-19.
What is the probability of a deal?
Mail Sport understands that 777 Partners is the preferred bidder, although their insistence, according to sources, on a Premier League guarantee could clearly hinder the deal.
Everton are currently one point clear of safety in 17th, with games remaining against Wolves and Bournemouth.
Unsurprisingly, 777 isn’t the only potential buyer interested.
MSP Sports Capital, another American investment company, is also interested in the club.
What can Everton fans expect?
While 777 cannot guarantee better success in the transfer market for Everton, they will certainly try to fund it as they have shown their commitment to big cash infusions at other clubs.
Kicker reported their deal to buy Hertha Berlin will result in a $108 million cash infusion over the next two years, while last year’s deal to acquire Red Star included a $32.5 million five-year investment plan according to Get football news France.
And while Everton fans will see a potential sale as crucial to securing funding for the new stadium at Bramley-Moore Dock, 777 has faced backlash in the past.
Everton fans protest with a banner reading “It’s time to go…” with portraits of club owner Farhad Moshiri (2nd r) and board members (from left) Grant Ingles, Denise Barrett-Baxendale, Bill Kenwright and Graeme Shar
Everton fans have witnessed relegation battles for two seasons in a row – and it remains to be seen how it will end
Red Star supporters placed smoke bombs on the pitch to protest the sale of the workers’ club, which forced a match to be abandoned on April 15 last year.
Several politicians have even signed an open letter denouncing the takeover, it said AFP.
In addition, the fund came under scrutiny in Germany over its deal to take over the management of Hertha Berlin, due to possible issues surrounding the deal and compliance with the 50+1 rule that exists in German football, where the club and its members retain control by owning, according to Forbes, 51 percent of the voting stock.
The company took full control of Hertha Berlin in March, acquiring the 64.7 percent stake from former investor Lars Windhorst through his company Tennor Holdings, but while Tennor could only influence decisions that amounted to €20 million ($22 million) in volume. ) exceeded, 777 has full control over all club relevant decisions.
Some fans in working-class Merseyside may have the same thoughts if Everton are bought by 777, although the club could certainly benefit from new votes in the boardroom if they manage to survive.