Everton’s sale has been announced. That sums up what a steal Newcastle United’s owners got.
Everton is finally going to be sold.
Farhad Moshiri has agreed to sell his 94.1% stake in 777 Partners (see below).
According to i news and other media, Moshiri is likely to bank £500 million.
Assuming the other shareholders agree, the overall sale price / valuation would be £530 million or more.
When you consider that the new Everton owners will also be responsible for developing and financing the new stadium…
It simply sums up what a fantastic deal the Newcastle United owners got when they bought from Mike Ashley.
Ashley had transformed NUFC into a shell of a football club after a decade and a half of refusing to allow appropriate investment, particularly in infrastructure, much alone in the playing squad.
However, the potential for Newcastle United to bounce back was always there, and even though Ashley refused to allow St James’ Park to be cleaned properly during his tenure as owner, the fact remained that he’d inherited a city center stadium that had undergone a massive redevelopment and upgrade only seven years earlier (2000).
So the new / present Newcastle United owners buying the club for £305 million in October 2021 is quite remarkable when contrasted to what Everton is selling for.
When it comes to the upcoming new owners, Everton fans may be less than thrilled with the prospect of evicting Moshiri, given the history of how 777 Partners has worked with their other teams…
Everton made a formal announcement on September 15, 2023:
‘Today, Mr Farhad Moshiri sent the following email to all Everton Shareholders.
Dear Investors,
I’m writing to inform you of my desire to sell my Everton ownership to 777 Partners.
As you may recall from my open letter in July of last year, I was emphatic about the need to attract new investment and complete the financing of our iconic new stadium at Bramley-Moore Dock, which I have primarily financed to date. The need for this has only grown more evident to me as the nature of ownership and finance of top football clubs continues to evolve at a rapid pace.
The last two transfer windows have demonstrated that the days of an owner/benefactor appear to be numbered, and the top clubs are now often controlled by well-resourced private equity groups, specialised sports investors, or state-backed enterprises and funds.
In my search for investment, I’ve spoken with a lot of people and explored various promising possibilities. However, after extensive negotiations with 777, I am convinced that they are the right partners to carry our wonderful Club forward, with all of 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. The agreement will see Everton become part of the 777 Football Group, which already includes Spain’s Sevilla, winners of the last UEFA Europa League, Genoa of Italy, Vasco de Gama of Brazil, and other storied clubs from across the world. Through that group, 777 is providing its clubs with access to world-class tools to support their football operations and global commercial opportunities. It is my belief that this expertise, combined with the collective strength of the clubs within the group, is what makes 777 the right fit for Everton.
I believe that knowing our Club’s future is a good thing. The last several years have been difficult for Evertonians, of which I am one. It’s been difficult to watch our problems on the field, but the groundwork for a brighter future has been set.
We have made amazing progress on the new stadium during the last two years. We are still on schedule and within budget. Everton will play in a stadium that will be the envy of the Premier League and beyond in the future. The location of a stadium will make it memorable during the game. A stadium that, most crucially, will provide Everton with a wonderful platform for growth while also transforming North Liverpool and the surrounding community. I shall be eternally grateful for what we have accomplished.
Finally, I’d want to thank the Chairman and those serving in interim positions at the Club for their dedication to bringing fresh investment and opportunity to the football club. They will continue to give support and guidance to the Club during the next step of this process, which will entail the transaction receiving regulatory approval from the Premier League, the Football Association, and the Financial Conduct Authority. I will keep you updated as the process progresses.
In due course, I will also write to shareholders more formally to request your support for the transaction’s completion through a shareholder vote. Of course, my objective is to vote in favor of this investment, which, as I have stated, is in the greatest interests of our Club and its future.
Thank you for continuing to support this fantastic football club.
Farhad Moshiri’s
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