Miami-based 777 Partners have signed a deal to take ownership of Everton from Farhad Moshiri.
The group, co-founded by Josh Wander and Steven Pasko in 2015, are set to buy Moshiri’s 94.1 per cent majority shareholding.
However, the deal is still subject to approval from the Premier League, Football Association and Financial Conduct Authority.
The PA news agency takes a closer look at the prospective new owners.
What is 777 Partners and what does it do?
777 Partners is an investment platform which began offering litigation funding to lawyers in return for part of any settlement fee and has subsequently branched out into sports club ownership.
Who is already in the portfolio?
Genoa in Serie A, Germany’s Hertha Berlin, Standard Liege in Belgium, Vasco de Gama in Brazil, and French third-tier side Red Star. It also has minority stakes in LaLiga’s Sevilla, which was the company’s first football club investment in 2015, and Australian outfit Melbourne Victory. In addition it also owns London Lions basketball team and a 45 per cent share in the British Basketball League. Outside of sport there are investments in Australian and Canadian budget airlines and global film studio STX Entertainment.
So why Everton?
777 has not hidden its desire to gain a foothold in the Premier League, the most high-profile league in the world, and Everton’s huge losses – more than £430million over the last five years – and Moshiri’s decision to get out after ploughing in more than £700m, with an unfinished stadium still to pay for, essentially make the club a distressed asset and ripe for a takeover.
What are the stumbling blocks?
The Premier League would have to satisfy itself no rules on club ownership are being broken, while there are also new regulations on leveraged buy-outs and proof of funding – and the extent of any borrowing to complete the purchase. Co-founder Wander also only ended a long period of probation in 2018 relating to a 2003 drugs charge which he admitted so would come under additional scrutiny for the owners’ and directors’ test. There are also a number of legal claims against the company still outstanding.
What’s 777’s track record?
Not immediately encouraging for Everton fans, who have seen more than half-a-billion pounds spent in the last seven years with little success to show for it. Vasco de Gama fans have staged protests over a perceived lack of investment and, in early September, Liege fans held demonstrations inside their ground with banners such as ‘No money, no ambition’. The recent launching of a supporters’ bond to help fund Genoa’s new training ground also did not go down well. Hertha Berlin were relegated from the Bundesliga last season and face having to repay a £34m loan at high interest.
Klopp jokes he 'doesn't like Maddison' after failing to block Kompany winner
Jurgen Klopp has joked he doesn't like James Maddison after the midfielder's failure to block Vincent Kompany's long-range winner in the 2018-19 season.
With the title race that campaign nearing its conclusion, Manchester City and Liverpool were going toe-to-toe at the Premier League summit.
City faced Leicester City in their penultimate game, and with the contest 0-0 with 20 minutes left, the ball sat up for Kompany to shoot from range with Maddison in the vicinity.
Maddison failed to block the effort, and Kompany's drive flew into the top corner before City ultimately went on to claim the title.
Klopp has joked that he now feels differently about Maddison following that incident, telling The Redmen TV: "The moment when Vinny Kompany fires the ball, I'm really happy I didn't get a stroke because that's how it must feel.
"I was watching thinking, 'Maddison, block him, close him down!'
"And since then, I don't like Maddison! I was also angry with Brendan [Rodgers, then Leicester manager] that day, because he should have taken him off, he was tired.
"It's a personal thing. Of course, I have no problem."
Leeds United 4-0 Norwich City (4-0 agg): Whites book Wembley spot in emphatic fashion
Leeds United thumped Norwich City 4-0 in the second leg of their Championship play-off semi-final to seal their place at Wembley.
After a goalless draw in the first leg left it all to play for at Elland Road on Thursday, Leeds turned on the style in front of a raucous home crowd to cruise into the final on May 26.
Ilia Gruev settled the majority of Elland Road's nerves with just seven minutes played as he caught out Angus Gunn with a long-range free-kick, curling into the space vacated by the Norwich goalkeeper's expectation of a cross.
Joel Piroe then doubled the hosts' advantage 13 minutes later, again capitalising on poor goalkeeping to beat Gunn to Wilfried Gnonto's cross and nod home.
The tie was effectively over five minutes from half-time, Georginio Rutter getting on the end of Crysencio Summerville's squared pass to rifle off the underside of the crossbar and in.
And after Gunn spilled Gnonto's low shot in the second half, Rutter cut the ball back for Summerville to poke home and secure Leeds' place in next Sunday's final, where they will meet either Southampton or West Brom.
Data debrief
Leeds may have looked pretty blunt in attack at Carrow Road, but that was far from the case on home soil as they put the Canaries to the sword in brutal fashion while keeping a 21st Championship clean sheet this season, more than any other side.
Daniel Farke's men produced 2.45 xG (expected goals) to Norwich's 0.51, while Summerville made it 20 league goals for the season, more than any other Leeds player.
Sanderson predicting Chelsea to win 'down-to-the-wire' WSL title race
Lianne Sanderson believes Chelsea will get over the line in the Women's Super League (WSL) title race this weekend.
Chelsea manager Emma Hayes previously declared the WSL title race as "done" following her side's 4-3 defeat to Liverpool in early May, but two wins since and a loss for title rivals Manchester CIty against Arsenal mean her team head into the final game top and with a superior goal difference.
Chelsea's goal difference of +47 to City's +45 could prove crucial as Hayes' side take on Manchester United this weekend looking to clinch the title.
City, meanwhile, travel to take on Aston Villa looking to overturn the goal difference deficit, but Sanderson feels Chelsea will get the job done.
"Obviously it's great for the neutral. For the fans, it's fantastic," Sanderson told Stats Perform.
"I think Emma Hayes obviously kind of somewhat accepted defeat a couple of weeks ago, which was surprising. Sometimes your emotions get the better of you. Emma Hayes is one of the best coaches in the world.
"Manchester City have had the best year I think they've had since Gareth Taylor has been there, taking over from Nick Cushing.
"It's going to go down to the wire. Personally, I still think Chelsea might do it."
With Sanderson predicting City to miss out on the WSL title, Sanderson feels Taylor's job should have come under more threat than it has.
"I've said many times that Gareth Taylor, I think hasn't come under as much pressure as he probably should have," Sanderson said.
"I think if he was in the men's game it would have been interesting because they've not qualified for the Champions League, they've been knocked out of preliminary rounds and those types of things."
However, Sanderson also gave Taylor credit for his persistence in what has occasionally been a challenging tenure.
"It's been interesting, but fair play to Gareth Taylor because he's persevered," Sanderson added.
"They've had loads of players over the years, you know Carli Lloyd, Rose Lavelle, the list could go on and it just hasn't really worked out, not due to those players, but sometimes you must find the right balance. I think finally, they found the right balance."
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