Skip to content Skip to Search
Skip navigation

British-Iranian businessman sells stake in Everton FC

By Gavin Gibbon
Moshiri Everton Everton FC
Former accountant Farhad Moshiri has sold his majority stake in Everton FC to Miami investment group 777 Partners
  • Sold to US investment fund 777 Partners
  • Moshiri had owned 94% stake
  • Club lost $203m between 2020 and 2022

British-Iranian businessman Farhad Moshiri has sold his stake in English Premier League club Everton to Miami investment fund 777 Partners.

It has signed a deal to acquire the former accountant’s 94 percent of the club’s shares.

Monaco-based Moshiri invested in Everton in 2016 before taking a majority stake two years later.

However, his time in charge has been troubled and he has been searching for a buyer for the club for months.

Everton are subject of an investigation by Premier League authorities over alleged breaches of financial regulations. 

The club made a net loss of £44 million ($55 million) in the year ending June 2022, following a net loss of £120 million in 2020-21.

In a statement Moshiri rued the challenge of competing with rival investors. Among them include Saudi Arabia’s Public Investment Fund, which bought Newcastle United in 2021, and Abu Dhabi-backed Premier League champions Manchester City.

“The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton seven years ago,” Moshiri said.

“The days of an owner/benefactor are seemingly out of reach for most.

“The biggest clubs are now typically owned by well-resourced private equity firms, specialist sports investors or state-backed companies and funds.”

The 777 group already has a number of football clubs in its portfolio, including Sevilla, Genoa, Hertha Berlin and Standard Liege.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]