The takeover of US investor 777 Partners at English Premier League club Everton FC is off the table, at least for the time being. The deadline to settle a loan expired on Saturday night
The problems of private equity company 777 Partners in recent months are well documented. While everything had remained calm at German second division club Hertha BSC, in which the US investor has held 78.8% of the limited partnership shares since March 2023, major problems had already emerged at other locations at the beginning of May this year. For example, missing salary payments and unpaid invoices at Belgian first division club Standard Liège caused a stir, while the takeover of Everton FC finally came to a standstill.
As of Saturday night, the takeover of the financially troubled English club is now off the table for the time being. As the club announced in a press release on Saturday morning, the “Share Purchase Agreement” between 777 Partners and Blue Heaven Holdings Limited, through which club owner Farhad Moshiri holds 94.1% of Everton FC’s shares, “expired today.”
Search for new buyer can begin
The main point of the agreement between Moshiri and 777 Partners was originally that the US investor must repay a loan to MSP Sports Capital of 158 million pounds, which was made as part of the expansion of Everton’s Goodison Park – also to meet the requirements set for the takeover. At the same time, according to the English Guardian, Moshiri was bound by an exclusivity period with the US investor and was unable to hold talks with other potential buyers.
Now that the agreement with investor 777 Partners, which according to the Guardian had lent the club a total of around 200 million pounds, has expired, the search for a new buyer can begin. The club stated in its press release: “The club will continue to operate as normal while it works with Blue Heaven Holdings to explore all options for the future ownership of the club. “
