Everton Football Club is facing uncertainty regarding its ownership after the deadline for the sale of the club to US-based consortium 777 Partners expired. The consortium had agreed to purchase majority owner Farhad Moshiri’s 94% stake in the club in September 2023, but failed to complete the share purchase agreement by the deadline. As a result, Everton has stated that they will “assess all options for future ownership.”
This situation has arisen due to a period of poor performances on and off the pitch under Moshiri’s ownership. The club has incurred significant losses, totaling nearly £400m, between 2019 and 2023. These financial difficulties led to Everton being docked eight points for two breaches of the Premier League’s Profit and Sustainability Rules. The club’s financial struggles have contributed to fan dissatisfaction and protests against Moshiri’s ownership.
The deal with 777 Partners faced multiple delays as the investment firm failed to meet the Premier League’s conditions of ownership. The Premier League required proof of funds from 777 and insisted that the firm convert their £200m loan to Everton into equity. Additionally, they wanted assurance that 777 could repay a £158m loan owed to MSP Sports Capital. In May, 777 appointed finance restructuring experts, casting doubt on their ability to meet these conditions.
The potential sale to 777 was met with criticism and calls for it to be called off. The Everton Advisory Board expressed concerns about the reputational damage that the consortium could cause to the club and urged Moshiri to explore alternative options. Fan anxiety and speculation regarding the ownership situation have been high, prompting the Advisory Board to emphasize the importance of considering fans’ concerns.
Despite the uncertainty surrounding ownership, Everton officials maintain that the club remains financially stable. They have stated that there will be no “fire-sale” of players this summer to comply with the Premier League’s Profit and Sustainability Rules. However, there have been suggestions from the director of football, Kevin Thelwell, and manager, Sean Dyche, that player sales may occur. This uncertainty adds to the challenges faced by Everton as they seek to rebuild and improve their on-pitch performance.
In addition to the ownership situation, Everton is in the process of building a new 52,000-seater stadium, which is expected to be completed for the 2025-26 season. The project’s costs have increased from £500m to £760m since construction began in 2021. The completion of the stadium will provide a much-needed boost for the club, both financially and in terms of infrastructure.
As Everton navigates these challenges, it is crucial for the club to find a suitable owner who can provide stability and investment. The future ownership of Everton will play a significant role in determining the club’s trajectory on and off the pitch. Fans will be hoping for a resolution that brings stability, success, and a positive future for their beloved club.