777 Partners are said to be very close to an agreement to buy Everton Football Club, a source has told Bloomberg.
The Florida-based investment firm has been in talks with Everton’s majorirty shareholder, Farhad Moshiri, about taking either an investment position in the club or an outright buy-out since the end of 2022 but they fell out of the running for a spell while MSP Sports Capital entered into a period of exclusivity earlier this year.
Based in New York, MSP were reportedly on the verge of taking a 25% stake in the Blues in return for a £150m investment aimed primarily at financing the next stage of development of the new stadium at Bramley-Moore Dock.
Those talks collapsed last month, however, and while it was claimed that they would be proceeding with a £100m loan to the Everton Stadium Development Ltd, a subsidiary of the football club, it does not appear as that has gone through yet.
With MSP having exited the scene, talk has ramped up in recent weeks that 777 Partners could yet strike a deal of their own, despite serious question marks over their ability to raise the necessary funds.
Bloomberg’s report does not cite the price that 777 might pay in any takeover but the news outlet’s source, who asked not to be identified since the negotiations are private, suggested that Moshiri is “expected to exit with a fraction of the money he invested.”
The negotiations between 777, who are being advised by Tifosy Capital & Advisory, and the British-Iranian businessman are said to be “in the late stages” and a deal could be announced as soon as today, although the buyers would by scrutinised under the Premier League’s new owners and directors test which could add months to the timeline of any takeover.
Headed by co-founder by Josh Wander, 777 Partners have interests in Genoa, Vasco da Gama in Brazil, Hertha Berlin and Standard Liege but, in addition to those aforementioned doubts over their financial heft and allegations of financial impropriety, the company attracted further negative press recently when fans of the Belgian club displayed a prominent banner in the stands imploring 777 to end their association with their club.