Everton are reportedly on the verge of being sold in a deal worth around £600million as Farhad Moshiri’s reign comes to an end. The 67-year-old has become a deeply unpopular figure at Goodison Park as the Toffees slid down the Premier League and he now looks set to hand the keys over to preferred bidder American investment fund 777 Partners.
Moshiri has held a sizeable stake in Everton since 2016, selling his shares in Arsenal to complete a takeover of the club. He increased his stake to 94% in January last year but now looks set to sell up after seven years at the helm.
The Daily Mail reports that American investment fund 777 Partners are the preferred bidder to take over the club in a £600m deal. A second party, MSP Sports Capital, are also still in the race and are content to be second choice.
Everton are said to want the deal completely quickly as the financial pressure of building their new stadium takes hold. A £505m instalment is required for the building at Bramley Dock as the club look to move out of their Goodison Park home.
Moshiri’s departure is likely to be well-received by fans given the 67-year-old has become a divisive figure synonymous with the team’s slide towards the Premier League relegation places. He has been unable to attend some home matches recently as it was deemed by the police to be a safety risk with fans making their discontent clear.
777 Partners are a Miami-based firm with wide-ranging interests from sports and entertainment to aviation and insurance. They have strengths in commercial and digital markets and will look to help the club increase revenue, something that could be key with the move away from Goodison Park.
While things are starting to look more positive for Everton fans off the pitch, their struggles on it remain. The Toffees are still locked in a relegation battle and have just two games to save their Premier League future.
The good news for Everton fans is league survival is in their own hands with wins in favourable fixtures against Wolves and Bournemouth guaranteeing safety.
However, should the club drop any points then they will be looking over their shoulders with Leicester and Leeds primed to take advantage of any slip-ups.
It is set to be a tense couple of weeks for Everton fans but they may feel a whole lot better if a takeover can be completed.
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