Everton finances to be hamstrung by 777 as multi-million news emerges from Italy amid advanced talks
Everton could be financially hamstrung by prospective new owners 777 Partners, who are seeking to raise nearly £4.3million for Serie B outfit Genoa.
Taking to X (12 September), the official Genoa account, which 777 owns among other clubs, posted a presentation urging investors to fund the development of a training facility, seeking £4.3million, with the post stating: “Capital not guaranteed”.
The Liverpool Echo reported (13 September) that Farhad Moshiri and 777 are in “advanced talks” over acquiring Everton, but such crowdfunding from prospective owners may make fans think twice before wanting the sale.
The negotiations between the pair could result in a “full buyout” of Everton, a significant change from the proposed 25% sale that MSP Sports Capital wanted earlier this year.
That deal fell apart due to existing club lenders opposing the deal, seemingly fast-tracking Moshiri’s talks with the Miami-based 777.
777 own, or have stakes in, a wide range of clubs across the world, including Genoa, Standard Liege and Herta Berlin – clubs that found themselves struggling either financially or on the pitch. They have now targeted Everton, who are struggling in both metrics.
But, if 777 is resorting to crowd-funding for £4.3million for a training facility, a relatively low amount in the world of football, then should Everton fans put their hopes in their ability to change the fortunes of the club?
Josh Wander, co-founder of 777, says all the right things. He waxed lyrical about Genoa, citing its “great traditions” and calling it “the most historic” Italian club. It could be easy to see why Everton fans could be convinced by the prospect of 777, especially off the back of a turbulent Moshiri stint on Merseyside.
Everton, per the Liverpool Echo, is valued between £350million to £400million, plus the price of their in-development Bramley-Moore Dock Stadium, so 777 has plenty of money to cough up if they want to add the Toffees to their growing club portfolio.
Of course, any prospective owners will have to pass the Premier League’s Owners and Directors test and prove they have the funds to facilitate the deal and keep the club running, so theoretically Everton should be safe from 777 if they prove untrustworthy.
However, while this remains a developing story, Toffees fans should maintain caution and not necessarily jump at the chance to see the back of Moshiri.
In other Everton news, Gary Lineker has reacted to 777’s potential takeover of the Toffees.