BrandArena: Everton 'close' to takeover by American firm 777 Partners

Tuesday 12 September 2023

Everton 'close' to takeover by American firm 777 Partners

Premier League strugglers Everton are on the verge of being sold to Miami-based investment firm 777 Partners, according to emerging reports.

After talks with MSP Sports Capital fell down in August, the financially troubled Toffees restarted talks with the American firm.

The takeover ends the turbulent term of owner Farhad Moshiri, who first invested in 2016.

Everton are in shambles both on and off the pitch, having narrowly avoided relegation in the last two seasons, including a last-day victory last season. Sean Dyche's side is 18th in the league following only one point from their first four games this season. 

Everton will go before an independent commission next month for an alleged breach of the Premier League's financial fair play regulations, although the club has denied wrongdoing and stated that they are "prepared to robustly defend" their stance.

The club reported financial losses for the fifth consecutive year in March, bringing their total losses over the previous five years to more than £430 million. They are also in the process of constructing a new stadium on Bramley Moore Dock, with costs expected to reach £760 million, a £260 million rise above numbers indicated by the club last year.

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