Roger Hampel
Introduction
In a significant development that has captured the attention of football fans and stakeholders alike, Miami-based investment firm 777 Partners is on the brink of sealing a deal for a full takeover of Premier League club, Everton FC. The investment group has been in discussions with the current majority shareholder, Farhad Moshiri, whose previous talks with New York-based MSP Sports Capital fell through last month.
Who Are 777 Partners?
777 Partners is no stranger to football investment, boasting a portfolio that includes European clubs like Sevilla, Genoa, Hertha Berlin, and Standard Liege. Although they have faced some scrutiny, as evidenced by protests from Standard Liege fans, their investment strategy typically focuses on clubs in financial distress or underachievement.
A Change of Tune for Farhad Moshiri
Earlier this year, Moshiri declared that Everton was "not for sale," a sentiment that has seemingly changed. It's worth noting that despite investing more than £750 million in the club since 2016, Moshiri has yet to see a significant return, either on or off the pitch. The team currently sits in 18th place in the Premier League, racking up only one point from the first four games of the season.
What Does This Mean for Everton?
Financial Stability
Football finance expert Kieran Maguire suggests that if 777 Partners can bring financial stability to the Merseyside club, it will be a positive step. The group has around about $12 billion worth of assets, so they certainly have the financial muscle to make the necessary changes.
Commercial Prospects
One of the driving forces behind 777 Partners' investments is their unique view on monetizing football clubs. They envision a future where fan loyalty goes beyond match tickets and merchandise, perhaps offering insurance or other products through the club. While this might disturb traditional fans, it could open up new revenue streams for Everton.
On-field Performance
It's also essential to consider what this takeover means for Everton's on-field performance. Although 777 Partners haven't had a sterling track record of turning footballing fortunes around, the resources they bring could potentially help the club attract higher-quality players and staff, thereby improving competitiveness.
Should Everton Fans Be Worried?
The key concern for fans will likely be the long-term intentions of 777 Partners. As they are primarily motivated by business interests, there's speculation that they may seek to 'flip' the club for a profit several years down the line. While this could result in short-term gains, the question remains whether the group will prioritize the club's heritage and fanbase in its longer-term strategies.
Conclusion
As 777 Partners inches closer to taking over Everton, there are both opportunities and challenges ahead. While the potential for financial stability and increased commercial activities is high, whether the new ownership can align its business-centric vision with the heart and soul of the club remains to be seen.
Source: Sky Sports
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