Farhad Moshiri’s reign at Everton will come to an end after investing over £750 million in the club after his arrival in 2016.
Miami-based investment firm 777 Partners has signed a deal to take over Everton. The sale marks the end of former owner Farhad Moshiri’s reign, who first invested in the Merseyside club back in 2016.
The agreement, which accounts for 94.1% of the club’s shares, was confirmed in a club statement on Friday.
In the announcement, Moshuri expressed his excitement for the future of Everton. The team’s majority shareholder said he had been open to finding new investors to finance their new stadium at Bramley-Moore Dock.
According to Moshuri, he spoke to a number of parties and considered some strong potential opportunities. But after lengthy discussions with 777, he concluded they were the best solution for Everton.
The 777 group already has some football clubs, such as Sevilla, Genoa, Hertha Berlin, and Standard Liege, on its books.
The American company intends to complete its takeover of Everton by the fourth quarter of 2023. This is subject to approvals from the Premier League, FA, and the Financial Conduct Authority.
Everton will return to action on Sunday at home to Arsenal in the Premier League.
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