If this deal succeeds, US investors will own half the Premier League
Everton Football Club is close to an agreement to be acquired by 777 Partners following months of talks between the parties, according to a person with knowledge of the matter.
Club owner Farhad Moshiri, who has invested hundreds of millions of pounds in the underperforming team during his tenure at the Liverpool-based club, was expected to exit with a fraction of the money he invested, said the person, who asked not to be identified because the negotiations were private.
Abdoulaye Doucoure of Everton celebrates following a victory over Arsenal earlier this year. Getty
A deal could be announced soon. If consummated, the sale will bring the number of American-owned Premier League teams to 10 out of 20. The parties are in the late stages of talks, and the deal could still fall apart. Mr Moshiri’s legacy includes a partly complete, state-of-the-art stadium in the Bramley-Moore Dock area of Liverpool.
An outside spokesperson for Everton declined to comment.
Over the past 21 months, 777 has been building a stable of historic football teams that stretches from Brazil to Belgium. It has had some success, such as leading Genoa back into Italy’s Serie A after inheriting a team that was on its way to relegation. Co-founder Josh Wander says 777 has more than doubled squad value at Genoa while reducing squad costs there by 50 per cent.
Vasco da Gama in Brazil also won promotion last year, while Hertha Berlin has been relegated to Germany’s second tier.
Everton has narrowly avoided relegation the past two seasons and has made an inauspicious start to the current season with only one draw and three losses.
Relegation from the Premier League to the Championship tier is costly. The broadcast fees fall from a minimum of £100 million
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