Everton's sale is subject to be completed by the end of 2023 subject to Premier League, Football Association, and Financial Conduct Authority approval. The takeover of the club will now mean that half of the 20 EPL clubs are American-owned. In a statement, Moshiri 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 private equity firms, specialist sports investors, or state-backed companies and funds." 

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On the other hand, 777 founder Josh Wander said: "We are truly humbled by the opportunity to become part of the Everton family as custodians of the club and consider it a privilege to be able to build on its proud heritage and values. Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men's and women's teams that will deliver results for future generations of Everton supporters." Everton are now currently 18th in the league table and after only managing one point in their first four games of the season. They have narrowly escaped relegation in the last two seasons only securing to remain at the top-flight league courtesy of a victory on the final day of the previous campaign. 

Everton are not only suffering on the pitch but are undergoing turmoils off the pitch also. They are set to go before an independent commission for an alleged breach of the Premier League's Financial Fair Play rules next month. The club has denied any wrongdoing, however, instead saying that they were "prepared to robustly defend" their position. They posted financial losses for the fifth successive year in March taking their cumulative losses over that period to more than £430m. Everton is also in the process of building a new stadium that could cost the club around £760m, a £260m increase on figures quoted by the club last year. The outgoing investor Moshiri said: “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.”

Josh Wander the 777 boss added: "We are committed to partnering with the local community over the long term, working on important projects such as the development of Bramley-Moore Dock as a world-class stadium venue, allowing thousands more Evertonians to attend our home matches and contribute to the economic and cultural regeneration of Merseyside." Moshiri has invested more than £750m in Everton since 2016 although some club's supporters have been unhappy about his ownership. Last season, some club's fans held protests outside Goodison Park before some home games calling for both Moshiri and the board of management to leave the club. Denise Barrett-Baxendale the chief executive officer, chief finance and strategy officer Grant Ingles and non-executive director Graeme Sharp have all vacated the boardroom ever since the rising of the protests. Moshiri had earlier in February said that the club was not for sale but he indicated that he was in talks with "top investors of real quality". Everton fans now are eager to see what kind of quality the 777 partners will bring both on and off the pitch as they take over the reins from Moshiri and his group. 

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(Image: The US Sun)