In a significant development for Everton Football Club, prospective new owners 777 Partners have garnered attention not only for their impending acquisition but also for their reported net worth, which surpasses the owners of Premier League giants Liverpool and Manchester United.
On Friday, Everton officially announced that an agreement had been reached with 777 Partners to acquire the full stake held by current owner Farhad Moshiri. This acquisition marks a pivotal moment in the club’s ownership history.
777 Partners, renowned multi-club investors, have been engaged in discussions with Everton ever since New York-based group MSP Sports Capital relinquished its exclusivity agreement with Moshiri, who currently possesses 94.1 percent of the club’s shares.
Among the clubs already under the ownership umbrella of 777 Partners are Sevilla, Genoa, Hertha Berlin, and Standard Liege. The involvement of the group has not been without controversy, as Standard Liege fans recently held a demonstration criticizing the owners during a match.
Although Everton has announced that the transaction is set to be finalized in the fourth quarter of 2023, it is still subject to approval from key regulatory bodies, including the Premier League, the Football Association (FA), and the Financial Conduct Authority (FCA).
While the multi-club ownership model pursued by 777 Partners may raise questions in some quarters, a considerable portion of Everton’s fanbase appears to welcome the impending takeover. Despite an investment of over £750 million by Farhad Moshiri since 2016, discontent has simmered among Everton supporters regarding his ownership. Protests were held outside Goodison Park last season, with fans calling for Moshiri and the board to step down.
One point that is likely to buoy the spirits of Everton fans is the reported net worth of 777 Partners. In May, the Liverpool Echo suggested that the group manages assets worth $6 billion. However, another source, CooPWB, alleges that the Miami-based consortium boasts a staggering net worth of approximately $12 billion.
Either of these figures places Everton’s incoming owners in a favorable financial position when compared to the Glazer family, who are valued at $4.7 billion according to Forbes, and Liverpool’s owners, Fenway Sports Group, with an estimated value of around $10.4 billion as per Forbes.
Josh Wander, founder and managing partner of 777 Partners, expressed his gratitude for the opportunity to become part of the Everton family and pledged to work collaboratively with fans and stakeholders to enhance both the sporting and commercial infrastructure of the club. This commitment includes the development of Bramley-Moore Dock into a world-class stadium venue, which aims to accommodate thousands more Everton supporters and contribute to the economic and cultural regeneration of Merseyside.
The pending takeover by 777 Partners marks a pivotal moment in Everton’s history, and the club and its fans eagerly anticipate the changes and developments that lie ahead under the new ownership.
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