Liverpool and Man Utd face problem as Everton agree takeover deal with 777 Partners
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Everton’s prospective new owners 777 Partners have a reported net worth that trumps both Liverpool and Manchester United's owners.
On Friday Everton announced that they had signed an agreement for 777 Partners to acquire Farhad Moshiri's full stake in the club.
The multi-club investors have been in talks with Everton since New York group MSP Sports Capital ended its exclusivity agreement with Moshiri, who owns 94.1 per cent of the club’s shares,
777 Partners boast several clubs in its portfolio, including Sevilla, Genoa, Hertha Berlin and Standard Liege. Indeed, fans of the Belgian side held a demonstration criticising the owners' involvement there at their last game.
The club announced the transaction is set to be completed in the fourth quarter of 2023, but remains subject to approval from the Premier League, FA and the Financial Conduct Authority.
While certain quarters will raise eyebrows at the 777 Partners' multi-club ownership model, a contingent of the Everton faithful will be happy about the pending takeover.
Despite investing more than £750million since 2016, Everton supporters have been unhappy about Moshiri's ownership, having held protests before games at Goodison Park last season calling for the 68-year-old and the board to leave.
Everton fans may also be heartened by 777 Partners’ reported net worth. Back in May, Liverpool Echo claimed that the the group have $6billion in assets under their management.
Meanwhile, CooPWB has alleged that the Miami-based group boasts a net worth of some $12 billion
Either figure sees Everton’s incoming owners having a higher net worth the United’s, with the Glazer family worth $4.7billion, according to Forbes.
Moreover, should the latter figure be believed, it would see the Toffees have more financial power than Liverpool’s owners Fenway Sports Group, who Forbes values at some $10.4billion.
Josh Wander, founder and managing partner of 777 Partners 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.
“As part of this, 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."
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