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The Everton takeover!
23/09/12
18:34
sokapro-The Everton takeover!

Miami based-777 partners are close to agreeing a deal that will see them fully takeover Premier League club Everton after having successful discussions with the club's majority shareholder Farhad Moshiri since talks collapsed with MSP Sports Capital last month.

Multi-club investors Miami-based 777 Partners are close to agreeing to a deal that will see them assume ownership of Everton Football Club. They already have full or majority ownership in other European clubs including Sevilla, Genoa, Hertha Berlin, and Standard Liege. Their move on Everton will be a full takeover once all the Premier League requirements are met. This will, however, take several months to complete. Earlier in February, Everton's majority shareholder Moshiri had told the club's fans that the Premier League club was not for sale but it appears the British-Iranian businessman has since changed his mind. Some Everton supporters have been unhappy about his ownership of the club despite investing more than £750m in the club since 2016.  The fans held several protests outside Goodison Park last season before games calling for Morshiri and the entire board to leave the football club.

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Everton have collected just one point in their opening four games of the season and are currently seated at position 18 in the Premier League table. They will return from the international break with a home game against Premier League giants Arsenal. Everton fans will want the ownership transfer sorted as soon as possible to allow the club to focus on the priority footballing matters. Initially, New York-based MSP Sports Capital looked like they were coming close to purchasing the club but the deal reportedly collapsed in its final stages before it could see the dawn of day. They, however, have some involvement in the completion of the new stadium at Bramley Moore Dock as per multiple reports. 



There was also an undisclosed Asian group that was interested in the purchase of the club but it is now understood that 777 is the one who is close to striking a deal with Moshiri. There have been a number of issues about the funding of the club with the current majority owner pumping in about £700m without having a return either on or off the pitch. If the 777 group is successful in the purchase of the club, this will be their biggest investment in football. The group mostly specializes in buying clubs that are engulfed in financial distress. The Premier League will be interested in knowing whether the 777 group can demonstrate to have money and also if they can prove where the money has come from. The organization has got around about $12bn worth of assets, meaning they can definitely afford to purchase Everton. The Premier League will, however, be investigating where the source of money comes from since the organization has not made money historically from the football clubs under its control. 

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(Image: Everton Football Club)