Everton are reportedly on the verge of being sold in a deal worth approximately £600m, with majority shareholder Farhad Moshiri set to part ways with the club.
The Toffees fanbase have staged mass protests against the team’s board in recent weeks. Now, it looks as if a new era is just around the corner.
Indeed, Moshiri, along with club chairman Bill Kenwright, have become deeply unpopular figures at Goodison Park over the last few years.
This is down to several things, including the team’s poor performance on the pitch, the board’s alleged lack of communication with the fans and wasteful recruitment in the transfer market.
Since Moshiri took over in 2016, he has spent almost £700m on new players. And yet, nine managers later, Evertonians have seen their team go from consistent top-six contenders into relegation fodder.
As it stands, Everton currently sit in 17th place in the Premier League table and are still in serious danger of relegation. If they do go down, it will be for the first time since 1951.
One undeniable positive of Moshiri’s era, though, is Everton’s new stadium. The exciting £500+ project is set to be completed some time in the 2024/25 season.
777 Partners eye £600m takeover
Now, according to the Daily Mail, an American investment company called 777 Partners are ‘close’ to completing a takeover of Everton, to the tune of £600m. It could be finalised ‘as early as next week.’
Also, a second company, MSP Sports Capital, are also in the race and ‘appear undeterred to be clear second favourites.’
Everton reportedly want the deal completed quickly as the financial pressure of building a new stadium takes hold. A £505m instalment is required for the Bramley-Moore Dock project.
As mentioned, Moshiri’s departure is likely to be well received by Everton fans. The only question, is whether he will be followed out the exit door by Kenwright.
Indeed, thousands of supporters have staged protests prior to the Toffees’ recent home fixtures, showing the level of anger among the fanbase.
In fact, both Moshiri and Kenwright have been unable to attend a home match for months, due to the police deeming it to be a safety risk.
Everton are currently under investigation for alleged Financial Fair Play breaches – another symptom of Moshiri’s disappointing reign.
If found guilty, they could face a potential points deduction. Although, this will be next season at the earliest.
777 Partners have already acquired several other football teams. These include Genoa in Italy, Standard Liege in Belgium, Red Star F.C. in France, CR Vasco da Gama in Brazil and Hertha BSC in Germany.
With that in mind, it will be interesting to see if the takeover is completed ‘in the next week,’ as stated in the Daily Mail’s report.