Skip to content

777 Partners reveals self-funded plan for Everton takeover

In an eagerly anticipated development, 777 Partners has officially unveiled its blueprint for the proposed £500 million acquisition of Everton Football Club, relays the Everton.News. This disclosure was shared by journalist Matt Hughes in the print edition of the Daily Mail, and it has ignited a sense of “relief” among the Everton faithful.

The American investment fund, 777 Partners, has been navigating the intricate process of scrutiny by both the Premier League and Britain’s Financial Conduct Authority (FCA) ever since the agreement to purchase Farhad Moshiri’s significant 94.1% stake in the club was reached.

According to Hughes’ report, “American private equity firm 777 Partners have informed the Premier League that they will employ their own resources to complete the proposed £500 million purchase of Everton, rather than seeking external funding. The firm has initiated the disclosure of intricate deal details with Farhad Moshiri to the Premier League, with the league’s initial inquiries centering on the origin and adequacy of their funding.”

777 Partners asserts control over assets valued at nearly £10 billion globally, distributed across a complex web of over 60 companies engaged in diverse industries, including debt financing, payday loans, aviation, and, notably, football.

This commitment to self-funding offers a glimmer of hope to Everton fans who have been grappling with the burden of loans amounting to over £350 million. Nevertheless, it is essential to acknowledge the fund’s past track record of delayed payments within its sports-related ventures, which has understandably fueled skepticism regarding their promises.

This disclosure marks a significant milestone in 777 Partners’ quest to take over Everton. Recent concerns had arisen over the potential collapse of the deal, primarily due to the Miami-based company’s failure to provide audited financial statements to the FCA. On the surface, this development brings the 777 Partners takeover closer to fruition. However, it is crucial to temper expectations, as there remain lingering questions.

One pivotal issue is the extent of financial investment that Everton can anticipate from 777 Partners and the precise sources of these funds, despite the claim of self-sufficiency. The concerns raised by journalists and, more significantly, supporters from other clubs affiliated with the American fund, have not escaped the notice of Everton’s passionate fanbase.

In essence, while this represents a step in the right direction, it is prudent to exercise caution. Farhad Moshiri’s tenure at Goodison Park appears to be gradually nearing its conclusion, and the Everton faithful must remain vigilant as the intricacies of this high-stakes takeover continue to unfold.