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British-Iranian businessman sells stake in Everton FC

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.

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