777 Partners takeover announcement now imminent at Everton

Everton are close to officially announcing 777 Partners as new investors in the club after talks with MSP Sports Capital collapsed, according to Sacha Tavolieri.

MSP Sports Capital had agreed an exclusivity arrangement with the Toffees in May, but the American firm this week left talks to take a minority stake in the Merseyside outfit [The Athletic].

Owner Farhad Moshiri had been left scrambling to find alternatives, and that search now appears to be over already with an announcement to follow.

Tavolieri posted on his Twitter account on Thursday [24 August]: “Been told the official announcement by 777 Partners of the takeover is now imminent.”

Messy situation

In typical Everton fashion, the club were caught cold and left needing to plug a financial gap following MSP’s decision to pull out of their minority investment deal.

Everton had expected MSP to invest up to £150million in convertible debt into the club, with that helping to fund the building of their new stadium at Bramley-Moore Dock.

777 Partners now look set to plug the financial gap, meaning a potential disaster has been dodged for now as far as Everton are concerned.

As reported by Alan Myers on Thursday [24 August], the investment is likely to just be a stake in the club, rather than a full takeover.

Two overseas groups – one from North America and one in Asia – had presented financial packages to Moshiri.

Retaining their Premier League status is as important as ever for Everton this campaign as they prepare to move into their new stadium as soon as next year.

Given an announcement now looks close, it appears Moshiri has manage to persuade 777 that is possible, despite the club’s poor start to the season.

The Toffees’ financial situation is still far from ideal, but at least a positive development has now emerged.

In other Everton news, Simon Jordan delivered a “doomsday” FFP opinion following MSP Sports Capital’s decision to leave talks.