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Farhad Moshiri has agreed to sell his majority shareholding in Everton to US investment fund 777 Partners in a deal that secures “the complete financing” for the English Premier League club’s new stadium.
The sale of Moshiri’s 94.1% stake is expected to be completed by the end of this year, subject to approvals from the Premier League, Football Association and the UK’s Financial Conduct Authority.
“I have been open about the need to bring in new investment and complete the financing for our iconic new stadium at Bramley-Moore Dock, on the banks of the Mersey, which I have predominantly financed to date,” Moshiri said.
“I have spoken to a number of parties and considered some strong potential opportunities. However, it is through my lengthy discussions with 777 that I believe they are the best partners to take our great Club forward, with all the benefits of their multi-club investment model.
“As a result of this agreement, we have an experienced and well-connected investor in football clubs who will help maximise the commercial opportunities, and we have secured the complete financing for our new stadium, which will be the critical element in the future success of Everton.”
777 founder Josh Wander said: “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.”
Everton commenced construction on its new 53,000-capacity stadium in August 2021 and the project is due for completion in the final months of 2024. Laing O’Rourke was appointed to build the stadium in February 2020.
The stadium has been included on a list of 10 venues proposed in the UK and Ireland’s final bid to host UEFA Euro 2028.
Everton currently sits 18th in the Premier League table after three defeats and one draw so far this season.
Image: Everton
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