Everton owner Farhad Moshiri has signed an agreement with 777 Partners for the American investment firm to acquire his controlling stake in the club.
The Toffees, who are currently 18th in the Premier League table, have had Moshiri as a shareholder since 2016 and majority shareholder since 2018, with his stake accounting for 94.1 per cent.
The closing of the transaction is expected to occur later this year and remains subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.
777 currently own, or part own, Genoa, Standard Liege, Hertha Berlin, Vasco de Gama and Melbourne Victory and the London Lions basketball team and British Basketball League.
The group had been in talks earlier this summer over a partial investment in Everton, only for rivals MSP Sports Capital to enter into an exclusivity agreement with Moshiri.
With that agreement ending after that potential investment fell through over repayments to existing lenders – although a £100million loan to help finalise the completion of a new stadium at Bramley-Moore Dock was agreed – 777 re-entered the picture and are now set to make a full takeover.
More from Sporting Life
Safer gambling
We are committed in our support of safer gambling. Recommended bets are advised to over-18s and we strongly encourage readers to wager only what they can afford to lose.
If you are concerned about your gambling, please call the National Gambling Helpline / GamCare on 0808 8020 133.
Further support and information can be found at begambleaware.org and gamblingtherapy.org.
Fast Results
Scores
