- A Premier League club, Everton has been acquired by U.S. private equity firm 777 Partners for over $685 million.
- 777 Partners plans to enhance Everton’s financial stability and invest in infrastructure development for both men’s and women’s teams, emphasizing long-term success.
- The acquisition reflects the growing presence of American ownership in Premier League clubs, contributing to the changing landscape of football club ownership.
In a significant development for English Premier League soccer, Everton Football Club has been acquired by U.S. private equity firm 777 Partners, marking a new chapter for the struggling club. The announcement was made on Friday, revealing a deal estimated to be worth more than 550 million pounds ($685 million).
777 Partners, based in Miami, has acquired a 94.1% stake in Everton from the British-Iranian billionaire Farhad Moshiri. This move comes as part of the firm’s strategy to expand its portfolio within the football world, joining other clubs like Genoa and Standard Liege and holding stakes in Sevilla and Melbourne Victory.
Josh Wander, founder and managing partner of 777 Partners, expressed gratitude for the opportunity to become part of the Everton family and emphasized their commitment to building on the club’s heritage and values.
Farhad Moshiri, who initially acquired a 49.9% stake in Everton in 2016 and increased it to 94.1% by January 2022 with a substantial capital injection, had been seeking investors to aid in completing Everton’s new 53,000-capacity stadium at Bramley-Moore Dock.
Everton has faced financial challenges, with substantial investments in player transfers not yielding the desired results on the field. The club narrowly avoided relegation in recent seasons and is currently in the 18th position in the Premier League without a win in four games this season.
This acquisition makes Everton the latest Premier League club under American ownership, joining a growing list of teams owned or significantly influenced by American investors. The deal is expected to be finalized in the fourth quarter of this year, subject to approval from football and financial authorities.
The acquisition by 777 Partners presents a potential turning point for Everton, offering financial stability and expertise that could help revive the club’s performance and competitive standing in the Premier League. As the club transitions into this new ownership, fans, and stakeholders will be keenly watching to see how this development shapes the future of Everton Football Club.
