Everton Sold to US Firm

gabriel barkhan
By:
Gabriel Barkhan
16/09/2023
EPL News, Predictions & Tips
Everton Sold to US Firm

Struggling EPL club Everton acquired by US private equity firm 777 Partners for over £550 million.

News Insights

  • Everton sold to US private equity firm for £550 million.
  • Miami-based 777 Partners takes over the English Premier League club.
  • Everton's financial woes and relegation struggles prompt the sale.
  • New owners aim to revitalize Everton's competitive standing.

Everton Football Club, a struggling English Premier League team, has been purchased by US private equity firm 777 Partners in a deal worth more than £550 million. The acquisition follows years of financial difficulties and on-field challenges for Everton.

Everton Football Club Acquired by US Firm 777 Partners in £550 Million Deal

English Premier League (EPL) side Everton has undergone a significant change in ownership. The struggling club has been acquired by US private equity firm 777 Partners in a deal reportedly worth over £550 million (approximately $1.1 billion AUD). The Miami-based investment fund, which also has a stake in the A-League's Melbourne Victory, has purchased a 94.1% stake from former owner Farhad Moshiri.

New Ownership's Vision

Josh Wander, the founder and managing partner of 777 Partners, expressed his excitement about the acquisition, stating, "We are truly humbled by the opportunity to become part of the Everton family as custodians of the club and consider it a privilege to be able to build on its proud heritage and values."

Moshiri's Tenure

Farhad Moshiri, a British-Iranian billionaire, initially acquired a 49.9% stake in Everton in 2016. By January 2022, he had increased his ownership to 94.1% after injecting £100 million of capital. Despite significant investments in player transfers during Moshiri's ownership, Everton faced financial challenges, posting a fifth consecutive year of losses, with the 2021-22 season reporting losses of £44.7 million, totaling over £430 million over the five-year period.

Financial Fair Play and League Standing

The club is currently facing an investigation into alleged breaches of Premier League financial fair play rules. In addition to financial concerns, Everton's on-field performance has been a source of frustration for fans, with the team sitting 18th in the league standings and without a win in four games this season.

Positive Outlook

Farhad Moshiri believes that 777 Partners is the right entity to lead Everton into the future, citing their multi-club investment model as beneficial. While Everton faces challenges both on and off the pitch, the new ownership signals a fresh start for the club, which boasts a rich history, having won the English top-flight league title nine times, most recently in 1987.

The Future of Everton

As Everton transitions under new ownership, fans and stakeholders will closely watch how 777 Partners plans to revitalize the club, both financially and competitively. The EPL has become increasingly competitive, and Everton's resurgence will likely be a subject of interest in the footballing world.

The acquisition also underscores the growing involvement of private equity firms in football, as investment entities seek opportunities to participate in the global appeal of the sport. The success of 777 Partners' ownership at Everton will ultimately depend on their ability to navigate the complexities of English football and restore the club's status as a competitive force in the Premier League.

The acquisition of Everton by US private equity firm 777 Partners, in a deal valued at over £550 million, marks a significant development for the English Premier League club. Under the ownership of Farhad Moshiri, Everton witnessed substantial financial investments, but on-field success remained elusive, and financial concerns persisted. Despite facing financial fair play investigations and reporting consecutive years of losses, the club's rich history, including nine English league titles, offers hope for a revival under the new ownership. As football continues to attract investments from private equity entities, Everton's journey under 777 Partners' stewardship will be closely monitored, with fans and stakeholders eager to see how the club navigates its financial challenges and strives to regain its competitive standing in the Premier League.

US private equity firm 777 Partners has acquired Everton, a struggling English Premier League club, from former owner Farhad Moshiri for over £550 million. The move comes as Everton has faced financial difficulties and struggled in recent seasons. The new ownership aims to rejuvenate the club and restore its competitive position in the Premier League.

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