Miami-based investment fund 777 Partners has agreed to purchase English football club Everton, acquiring British-Iranian businessman Farhad Moshiri's 94.1% stake in the club.
The financial details remain undisclosed but deal is expected to close by the end of the year. England Football Association and the UK's Financial Conduct Authority will scrutinize the deal.
The acquisition is set to strengthen Everton's financial position and secure funding for its new Bramley-Moore Dock Stadium in Liverpool. This is subject to approval from the Premier League, which implemented stricter tests for prospective owners and directors in March.
Farhad Moshiri, who had invested approximately £750 million in Everton, has been seeking an investor amid the club's financial challenges.
The need to secure hundreds of millions of pounds for the new stadium, which will replace the historic Goodison Park, intensified the search.
777 Partners investments so far
777 Partners already has investments in seven football clubs, including Hertha Berlin in Germany, Sevilla FC in Spain, Genoa in Italy, and Vasco da Gama in Brazil.
In July, investigative news outlet Josimar raised questions about legal troubles involving 777 and co-founder Josh Wander.
777 Partners dismissed the reporting as ‘wholly misleading’, with Wander explaining that his 2003 cocaine-trafficking arrest, resulting in probation, was a youthful mistake that had not caused issues with lenders, rating agencies, or regulators.
The acquisition by 777 Partners marks another instance of American investors entering the English Premier League, further highlighting the global nature of football ownership and investment in the modern era.
