777 PARTNERS AND FARHAD MOSHIRI SIGN AGREEMENT FOR THE ACQUISITION OF HIS CONTROLLING STAKE IN EVERTON FOOTBALL CLUB
• Historic English Premier League club to join 777 Football Group
• Transaction strengthens EFC balance sheet and guarantees full funding of the new stadium
777 Partners has signed an agreement with Farhad Moshiri to acquire his full stake in Everton Football Club, which accounts for 94.1% of the Club’s shares.
A founding member of the Football League in 1888 and Premier League in 1992, Everton is the fourth most successful club in English football history, having won nine top-flight league championships, five FA Cups and a European Cup Winners’ Cup.
Everton is currently building a new 52,888-capacity stadium at Bramley-Moore Dock, which will provide a state-of-the-art waterfront home for the Club and a platform for growth on and off the pitch.
Mr Moshiri, a shareholder since 2016 and majority shareholder since 2018, said: “The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton over seven years ago. The days of an owner/benefactor are seemingly out of reach for most, and the biggest clubs are now typically owned by well-resourced PE firms, specialist sports investors or state backed companies and funds.
“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. 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. Today is an important next step in the successful development of Everton and I look forward to closely following as our Club goes from strength to strength.
“Of course, none of this could have been achieved without the hard work of everyone at the Club. From our team at the training ground, our commercial and support teams through to matchday employees, I extend my sincerest gratitude.
“And to our fans, the last few years have been challenging but you have supported the Club through it all and consistently been our twelfth man. You are the best fans and deserve success.”
777 Partners has established a global multi-club platform providing access to strategic markets in the world’s most popular sport. 777 Football Group is bringing together some of the most historic football clubs in the world within a structure that creates significant synergies through access to world-class data and analytics, player development and global commercial opportunities. The 777 Football Group currently comprises Genoa C.F.C. in Italy, Vasco da Gama in Brazil, Hertha BSC in Germany, Standard de Liege in Belgium, Red Star FC in France, Sevilla FC in Spain, and Melbourne Victory FC in Australia.
Josh Wander, Founder and Managing Partner of 777 Partners, said: “We are truly humbled by the opportunity to become part of the Everton family as custodians of the Club, and consider it a privilege to be able to build on its proud heritage and values.
“Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men’s and women’s teams that will deliver results for future generations of Everton supporters. As part of this, 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.”
Closing of the transaction is expected to occur in the fourth quarter of 2023 and remains subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.
Out of respect for this process, 777 Partners will not be providing any further comment during this period of regulatory review.
Mr Moshiri will also be seeking support from the Club’s minority shareholders and will be writing to them in the coming days.
Ends
NOTES TO EDITORS
ABOUT 777 PARTNERS
777 Partners is a Miami-based alternative investment platform founded in 2015. The firm strategically invests across six broad verticals that includes insurance, consumer and commercial finance, litigation finance, direct lending, sports, media and entertainment and aviation. The 777 model combines deep sector knowledge, operational expertise, stakeholder alignment and permanent capital to create unique business propositions. The firm has almost 60 portfolio companies across 24 countries and has grown to include over 3,000 employees internationally. 777 Partners was co-founded by Joshua C. Wander and Steven W. Pasko.
Since 2018, 777 has been a significant investor in professional football and has established a best-inclass operational team with centralized expertise and representation across sports, finance and data and analytics, including the appointment of its founding partner, Josh Wander, to the European Club Association (ECA). The 777 Football Group currently comprises Genoa C.F.C. in Italy, Vasco da Gama in Brazil, Hertha BSC in Germany, Standard de Liège in Belgium, Red Star FC in France, Melbourne Victory FC in Australia, and Sevilla FC in Spain and is a leading multi-club ownership group.
ABOUT EVERTON FOOTBALL CLUB
One of the 12 Founder Members of the Football League, Everton has spent more seasons in England’s top division than any other club (121) and been crowned league champions on nine occasions.
Founded in 1878 as St Domingo, the Club has also lifted the FA (Football Association) Cup five times and, in 1985, added the European Cup Winners’ Cup to its prestigious haul.
Throughout its 145-year history, Everton has been known as a family-oriented club based on proud traditions, affectionately referred to as ‘The People’s Club’. Those traditions have also encouraged innovation, ensuring Everton has remained one of the great pioneering clubs in the history of the game. The first club to construct a purpose-built football stadium, its home, Goodison Park, is one of the most revered stadiums in England. In the coming years, the Club will be looking to maintain those traditions in a new 52,888-capacity stadium at Bramley-Moore Dock, ensuring the Club’s roots remain in north Liverpool for generations to come.
As a pioneer, the Club is renowned for many firsts that we take for granted in today’s game. Everton was the first club to see its players wear shirts numbered 1 to 11 in a high profile fixture, the first club to go on an overseas tour, the first English club to install dugouts and undersoil heating, the first club to feature in a televised match, the first club to introduce a regular matchday programme, the first club to present its players with medals for winning the Football League championship and the first club to have a player, Dixie Dean, break the 60 goals barrier in a single league season.
ADVISORS
Tifosy Capital & Advisory served as lead financial advisor and Norton Rose Fulbright LLP served as legal counsel to 777 Partners.
Deloitte served as lead financial advisor and Northridge Law LLP served as legal counsel to Mr. Moshiri, and Everton Football Club was advised by Pinsent Masons LLP.