Farhad Moshiri reportedly agrees embarrassing deal that offers ‘virtually no money up front’

In a bold move born out of desperation, Farhad Moshiri has struck a deal with 777 Partners, a Miami-based investment firm, that offers “virtually no money up front”, writes the GoodisonNews. This development comes after Moshiri’s prolonged struggle to sell the club due to financial constraints, primarily stemming from the UK Government’s sanctions against his former business partner, Alisher Usmanov, in light of the Russian invasion of Ukraine.

Everton’s recent history has been marred by financial woes, Premier League relegation battles, managerial upheavals, and Financial Fair Play challenges. The sale of the club was seen as a lifeline to address these pressing issues, but it appears that Moshiri’s eagerness to offload Everton has led to a questionable deal with 777 Partners.

According to a report by the Daily Mail, Moshiri’s desperation is evident as he is willing to part with his 94.1 percent share in Everton for a significantly lower sum than the initial £500 million he had hoped for. What’s even more perplexing is that the deal with 777 Partners entails receiving minimal upfront payment.

The intricacies of the deal with 777 Partners hinge on performance-related conditions, particularly Everton’s ability to avoid relegation to the Championship this season. However, what raises eyebrows is the doubt surrounding 777 Partners’ financial capacity to complete the acquisition. A source close to the American investors revealed, “They had negotiated a series of clauses rather than heavy upfront payments.” The source also expressed skepticism about 777 Capital Partners’ ability to purchase the club from Moshiri, clear the club’s debts, and finalize the construction of the Bramley-Moore stadium.

Adding to the uncertainty surrounding this deal, MSP Sports Capital and Image & Media Rights have the authority to call in loans amounting to £350 million if they do not approve of the new ownership at Everton. The Daily Mail reports that MSP could seriously consider invoking this clause, further complicating the sale.

In light of these mounting complications, Everton’s future under 777 Partners appears increasingly unfeasible. The deal, driven by desperation, risks destabilizing the club further, leaving Everton fans with more questions than answers. Farhad Moshiri’s gamble with 777 Partners might turn out to be a high-stakes bet that Everton can ill afford to lose.