Get the latest news on Everton’s acquisition and sale rumours, following reports in September 2023 that the Merseyside club’s takeover was nearing completion.
Everton Football Club recently entered into a purchase agreement with 777 Partners, a Miami-based investment firm. The transaction is ultimately in a regulatory proceeding to obtain the mandatory approvals, but considerations remain that could be just the finishing touch to the acquisition.
A significant fear is an imminent £300 million lawsuit from three rival clubs (Burnley, Leeds and Leicester) who allege Everton breached the Premier League’s Financial Fair Play rules. Everton.
The Premier League accused Everton in March of alleged breaches of Financial Fair Play rules after the club posted losses of £313. 5 million in the last three years, well above the £105 million limit. An independent tribunal scheduled for October 25 will rule on the case. , and if convicted, the ongoing acquisition could be compromised.
Farhad Moshiri, owner of 94% of Everton, wants to sell his majority stake to 777 Partners, after making an investment of around £750 million in the club over the last seven years. However, the club are still keen to secure a £300 million investment for their new stadium at Bramley-Moore Dock.
Despite the above considerations, the acquisition is progressing through the regulatory process and 777 Partners is close to reaching an agreement with Everton’s majority shareholder, Farhad Moshiri. This investment company is also present in other football clubs such as Sevilla, Hertha Berlin and Standard Liège. , and has already loaned Everton around £20m, indicating his interest and monetary ability to take over the club.
Premier League approval is very important for the acquisition to go through, and 777 Partners will have to wait and see if the league gives the green light, especially given the imaginable legal war with rival clubs.
In June 2024, Friedkin Group secured an exclusivity deal as part of its bid to secure a majority stake in Everton.
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