Everton Football Club is poised for a significant transformation as owner Farhad Moshiri has reached an agreement with American investment firm 777 Partners for the acquisition of his controlling stake in the club. Here are the key details surrounding this development:
A Shift in Ownership
- Everton owner Farhad Moshiri, who has held a stake in the club since 2016 and a majority share since 2018, has decided to transfer his ownership to 777 Partners.
Moshiri’s Statement
- In a statement, Farhad Moshiri acknowledged the changing landscape of football ownership, citing the shift from owner-benefactors to well-resourced investment firms. He emphasized the need for new investment, particularly for the financing of Everton’s iconic new stadium at Bramley-Moore Dock on the Mersey’s banks.
- Moshiri expressed confidence in 777 Partners as the ideal partners to propel the club forward due to their multi-club investment model. He stressed the critical role of the new stadium in Everton’s future success.
- He extended his gratitude to everyone involved with the club, from the training ground staff to matchday employees, and he lauded the unwavering support of Everton’s fans throughout the challenges of recent years.
Transaction Details
- Everton anticipates the completion of the ownership transfer in the fourth quarter of 2023, subject to regulatory approvals from entities including the Premier League, the Football Association, and the Financial Conduct Authority.
777 Partners’ Portfolio
- 777 Partners already holds interests in football clubs like Genoa, Standard Liege, Hertha Berlin, Vasco de Gama, and Melbourne Victory. Additionally, they have investments in the London Lions basketball team and the British Basketball League.
Josh Wander’s Perspective
- Josh Wander, the founder and managing partner of 777 Partners, expressed humility and privilege in becoming a part of the Everton family. He outlined the firm’s commitment to collaborating with fans and stakeholders to enhance the club’s infrastructure, ensuring success for future generations of Everton supporters.
- Wander emphasized their dedication to partnering with the local community, particularly in the development of Bramley-Moore Dock as a world-class stadium venue.
Kenwright’s Potential Departure
- The change in ownership could mark the end of Bill Kenwright’s 19-year tenure as Everton chairman, signaling a significant transition for the club.
This development signifies a pivotal moment in Everton’s history, with the club set to embark on a new era under the guidance of 777 Partners. Stay tuned for further updates as this transformation unfolds.
