Everton are set to be SOLD for around £600m to US investment fund 777 Partners as Farhad Moshiri’s unpopular reign comes to an end and the club battles to save their new stadium build and Premier League status
- The £600 million deal is expected to close early next week
- It is clear that the US investment fund 777 Partners is the preferred bidder
Everton are about to be sold in a deal worth around £600 million, ending Farhad Moshiri’s painful reign behind the scenes.
A deal is expected to be finalized early next week as they battle to save their new stadium construction and their future in the Premier League.
Mail Sport understands US investment fund 777 Partners as the preferred bidder, although sources insist they require a Premier League guarantee to complete their sale. Everton want to finalize the deal as soon as possible.
A second bidder, MSP Sports Capital, was in hot pursuit last night and seems undeterred to be clear second favourites.
Crucial is the next installment requirement in the construction of the new £505 million stadium at Bramley Dock.
Everton is about to be sold in a deal worth around £600 million to a US investment fund
The potential sale will end Farhad Moshiri’s painful reign behind the scenes
Other possible candidates are circling but running out of time.
Moshiri and fellow board members were unable to attend matches at Goodison Park due to fan hospitality. Moshiri has a 94 percent stake.
Everton’s remaining matches are against Wolves and Bournemouth as they fight to avoid the drop.
777 is a Miami-based company with a broad portfolio from sports and entertainment to a variety of other industries, including aviation and insurance.
The group injects money into businesses and provides expertise in an effort to drive growth. Such practices are common in the US.
Indeed, Manchester United invited such offers in their sales process, which is still ongoing.
Companies like 777 bring know-how in areas such as commercial and digital, which are part of a comprehensive plan to increase sales.
Everton are fighting to save their new stadium and their future in the Premier League
With Everton about to move to a new stadium – and the opportunities that will bring – such expertise could be vital if they are to cash in on a new era away from Goodison Park.
777 say they “excel at identifying potential where others don’t,” adding “it’s one of our defining traits.”
They add: ‘We are discovering unique opportunities to help undervalued teams transform from clubs into highly profitable media and entertainment companies’.
They have interests in Genoa, Vasco de Gama, Standard Liège and Seville. In the aviation field, they are introducing a new class of ‘digital low-cost carriers’.