- Everton changes hands
- Set to join 777's multi-club group
- Departing owner Moshiri was not popular
WHAT HAPPENED? The U.S. investment firm has agreed to buy out Moshiri's 94.1 per cent stake in the Toffees. Should the takeover go through, Everton will become part of 777's multi-club platform, which currently includes the likes of Genoa, Vasco da Gama and Hertha Berlin.
THE BIGGER PICTURE: Since Moshiri took majority control in 2018, the Toffees have endured a steady decline, staying up by the skin of their teeth in each of the past two Premier League seasons despite heavy investment in the playing squad. Everton fans protested against his ownership on several occasions.
WHAT THEY SAID?: “The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton over seven years ago. The days of an owner/benefactor are seemingly out of reach for most, and the biggest clubs are now typically owned by well-resourced PE firms, specialist sports investors or state-backed companies and funds," Moshiri wrote in a statement.
“I have been open about the need to bring in new investment and complete the financing for our iconic new stadium at Bramley-Moore Dock, on the banks of the Mersey, which I have predominantly financed to date. I have spoken to a number of parties and considered some strong potential opportunities. However, it is through my lengthy discussions with 777 that I believe they are the best partners to take our great Club forward, with all the benefits of their multi-club investment model.
“Of course, none of this could have been achieved without the hard work of everyone at the Club. From our team at the training ground, our commercial and support teams through to matchday employees, I extend my sincerest gratitude. “And to our fans, the last few years have been challenging but you have supported the Club through it all and consistently been our twelfth man. You are the best fans and deserve success.”
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WHAT NEXT? Everton's immediate concern will be pulling away from the Premier League relegation zone, with Sean Dyche's side currently 18th having picked up just one point from four games so far. It's also worth noting that although an agreement has been signed, the takeover will still need to be rubber-stamped by the Premier League before it is completed.