Teams

Everton’s Tentative $685M Sale To U.S. Firm Hits Snag

Everton has a $685 million deal in place to be acquired by American firm 777 Partners.
Complications with British regulatory approvals may slow down the process.

Oct 18, 2023 | 01:00 pm

Everton FC

Premier League club Everton was set to officially welcome new majority owners by the end of the year, but there may be a holdup for the deal that was reportedly worth $685 million.

Last month, Miami-based private equity firm 777 partners signed an agreement to acquire the 94.1% of club shares held by Farhad Moshiri. The team said the transaction was expected to close in Q4 but remained subject to regulatory approval — including from the EPL, the English Football Association, and the U.K.’s Financial Conduct Authority.

Now, the sale has reportedly stalled because 777 has failed to provide audited financial statements to the FCA, according to the New York Times. If 777 doesn’t produce those documents or give an acceptable explanation, the deal could fall apart, per the report.

Biggest Transaction Yet

Majority ownership of Everton would represent 777’s biggest acquisition yet in its quest to compete with other like-minded multi-club groups.

The 777 Football Group’s portfolio currently comprises Serie A club Genoa, La Liga club Sevilla, Belgian Pro League side Standard de Liege, Brazil’s Vasco da Gama, first-tier Australian club Melbourne Victory, second-tier German club Hertha BSC, and French third-division club Red Star.

Despite growing uncertainty, Everton’s sale to 777 could still be finalized before the start of 2024.