Everton Football Club is actively seeking third-party investment to expedite the completion of a proposed takeover by 777 Partners, a Miami-based firm. The takeover deal, which was agreed upon in September with majority owner Farhad Moshiri, is currently pending approval from the Premier League.
According to reports by Bloomberg, the club’s financial adviser, Deloitte, has been engaging with sports-focused investors and lenders to secure additional funding to facilitate 777 Partners’ acquisition of Everton. This strategic move aims to bolster the financial resources necessary to finalize the deal and navigate any potential challenges.
Sources close to Farhad Moshiri have indicated that efforts to finalize the deal with 777 Partners are ongoing, emphasizing their commitment to completing the transaction. Despite the absence of alternative takeover offers, the focus remains squarely on 777 Partners as the prospective new owners of Everton.
As part of the proposed takeover agreement, 777 Partners has already provided Everton with a substantial loan of £180 million to cover day-to-day operational expenses. This loan is expected to be converted into equity upon the successful completion of the takeover. However, one significant hurdle that needs to be addressed is the repayment of funds owed to MSP Sports Capital, whose previous deal with Everton collapsed in August.
777 Partners has expressed confidence in its ability to address this financial obligation, stating that it can cover the £158 million owed to MSP Sports Capital. Once this outstanding debt is resolved, it is anticipated that the takeover process will proceed swiftly toward completion.