- 777 Partners planning Everton takeover
- Already lent a massive loan to club
- Helps with short-term working capital
WHAT HAPPENED? According to an exclusive story by The Athletic, the Miami-based investment group has given Everton money on an interim basis “to help with short-term working capital requirements and the stadium build.” Last week, news broke that 777 Partners had agreed to buy out Farhad Moshiri’s 94.1% stake in the Toffees. The Times described the takeover as “a performance-related deal” in which the Americans would buy out the Monaco-based businessman’s shareholding in stages, with much depending on whether the club remains in the Premier League after this season.
THE BIGGER PICTURE: Everton is working to finish building its new stadium at Bramley-Moore Dock in the meantime which is still facing some shortfalls. This is despite the recent injection of almost £100 million by MSP Sports Capital. According to David Ornstein’s story for the Athletic, 777 Partners’ management, including co-founder and managing partner Josh Wander are pleased with club manager Sean Dyche and director of football Kevin Thelwell’s work and intend to keep them in their current roles should the buyout succeed.
IN A PHOTO:
WHAT NEXT FOR EVERTON? The acquisition remains subject to Wander and his associates passing the League’s new Owners and Directors Test, which was just implemented to judge the fitness of prospective owners of England’s top-flight clubs.