Everton owner Farhad Moshiri is reportedly in 'advanced talks' with an American investment firm for the full takeover of the club.
Bloomberg has reported that 777 Partners, who have controlling stakes in multiple football clubs, were edging towards a deal to take control of the club.
The Telegraph has now claimed that a deal is at an ‘advanced stage’ and that Moshiri, who acquired a majority stake in the Toffees back in 2016, would be leaving the club with a fraction of the money that he has ploughed into the club over the past seven and a half years.
777, co-founded in 2015 by Joshua Wander and Steven Pasko, have been adding clubs to their multi-club portfolio at pace in recent years, with the firm having targeted largely distressed assets, with acquisitions of Standard Liege, Red Star FC, Hertha Berlin, Genoa, Vasco da Gama and Melbourne Victory all being concluded.
Everton have been seeking external investment for both the club and the stadium for some time.
Earlier this summer it appeared that a deal was all but done with New York-based MSP Sports Capital for £150m in funding, £100m of it for the stadium and the rest to recapitalise the club.
However, owing to objections from existing lender Rights and Media Funding Limited to various aspects of the deal, the plan for MSP to take an equity share in Everton and operational control was abandoned, although the £100m loan deal remains intact.
Everton had been in talks with 777 Partners earlier this year before breaking off to enter into an exclusivity agreement with MSP.
Once the MSP deal was ended for a stake in the club, talks almost immediately resumed with 777 Partners, who are keen to add a Premier League football club to their portfolio.
It is understood that representatives of Moshiri have been pitching the sale of a majority stake in the club to US investors and involved in discussions with ‘boutique banks’ over finance packages as recently as three weeks ago.
One of the major sticking points has not been the valuation of the football club but the issue of securing further funding to complete the 52,888-seater stadium build that is slated to be open at some point during the 2024/25 season.
The Telegraph report that 777 Partners are being advised on their Everton interest by Tifosy Capital & Advisory, a firm that they engaged earlier this year when seeking to raise $220m (£176m) for pursuing more club acquisitions.
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