Post by Webster on Sept 15, 2023 14:56:05 GMT
(The Guardian) Everton 'new ownership agreement reached'
Club statement: “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.”
Farhad 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.
Club statement: “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.”
Farhad 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.