Everton is the most illustrious English soccer team to be acquired by American investors when 777 Partners, a private investment firm based in Miami, agreed to buy out majority stakeholder Farhad Moshiri.
“We are truly humbled by the opportunity to become part of the Everton family as custodians of the club and consider it a privilege to be able to build on its proud heritage and values,” Josh Wander, founder and managing partner of 777 Partners, said in a statement Friday.
Under American ownership, Manchester United, Liverpool, Arsenal, and Chelsea all enjoy varying levels of success. The 20-team division's Aston Villa, Crystal Palace, Fulham, Burnley, and Bournemouth are all included on the list.
Even Manchester City, which is funded by Abu Dhabi, has an American minority shareholder; Silverlake, a private equity group based in California, owns an 18% stake.
The sale of Chelsea last year, when Todd Boelhy and Clearlake Capital outbid several US-based rivals to acquire the two-time UEFA Champions League champion, served as a focal point for American interest in the Premier League.
Attempts to purchase the London club were made by Boston Celtics co-owner Steve Pagliuca, New York Jets co-owner Woody Johnson, and a group that includes current Washington Commanders co-owner, Josh Harris. The club was ultimately sold for 2.5 billion pounds (USD 3 billion).
After Man United's owners, the Glazer family put the team up for sale in November of last year, there hasn't been the same amount of interest, though. The only public offers for United have come from British businessman Jim Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al Thani; US interest in the 20-time English champion may have been dampened by the Glazers' rumored asking price of roughly USD 6 billion.
The Premier League is a lucrative investment opportunity for investors due to its massive global broadcasting revenue and sold-out stadiums.
The price that 777 Partners will pay Everton for its 94.1 percent ownership of the team is unknown, and any transaction will require league approval. According to 777 Partners, the deal is anticipated to close in the fourth quarter of this year.
After years of turmoil and disappointment, Everton supporters will be hoping that a change in ownership will result in a change in fortune.
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