Home Sports Miami-based 777 Partners close to agreeing Everton takeover deal

Miami-based 777 Partners close to agreeing Everton takeover deal

396
0

Premier League strugglers Everton are close to being sold to Miami-based investment firm 777 Partners.

The financially-stricken Toffees resumed discussions with the American company after talks with MSP Sports Capital collapsed in August.

The takeover will bring to an end the tumultuous tenure of owner Farhad Moshiri, who first invested in 2016.

A source close to Moshiri said Everton have sought investment for a while, but the deal is not yet complete.

Sean Dyche’s side lie 18th in the league after picking up just one point from their opening four games so far this season.

Everton are in disarray both on and off the pitch, narrowly escaping relegation in the last two seasons, including staying up with victory on the final day last term.

Next month the club will go before an independent commission for an alleged breach of the Premier League’s financial fair play rules, but Everton have denied wrongdoing and said they were “prepared to robustly defend” their position.

In March, the club posted financial losses for the fifth successive year, taking their cumulative losses over the past five years to more than £430m.

They are also in the process of building a new stadium on Bramley Moore Dock and costs could reach £760m, a £260m increase on figures quoted by the club last year.

Everton and 777 did not respond when contacted by BBC Sport.

Source: BBC

Previous articleGhana face Liberia in international friendly today
Next articleE.L  apologizes to the media on  playing his old tune saga

LEAVE A REPLY

Please enter your comment!
Please enter your name here