After months of uncertainty and years of underwhelming football at Goodison Park, Everton have new owners as majority shareholder Farhad Moshiri has signed an agreement with Miami-based 777 Partners over the purchase of the Premier League club.
According to The Athletic, 777 Partners will acquire Moshiri’s full stake in Everton, which accounts for 94.1 per cent of the club’s shares.
The American-based investment company had been in talks with the Merseyside club since the start of the year but discussions broke down after MSP Sports Capital secured exclusive talks with Moshiri in May.
MSP Sports Capital subsequently withdrew from talks about taking a minority stake in the club as their exclusivity period ended and the deal collapsed, with the stumbling block being opposition from one of Everton’s existing lenders, Rights and Media Funding Limited.
Moshiri gives up control of Everton having bought the club in 2016 having previously owned a minority stake in Arsenal with his business associate Alisher Usmanov. His tenure will not be remembered by fans of the Toffees kindly as it has been a period which has seen the Merseyside club consistently battle relegation.
The 68-year-old invested at least £750m during his time at Everton and 777 are now tasked with dragging the Blue half of Liverpool back up the table.