Exclusive: 777 Partners confirm they’re looking at ‘interesting assets’ amid Everton takeover rumours
777 Partners has confirmed it is “looking for interesting assets” amid reports that the US investment group is close to takeover of struggling Premier League club Everton.
Owner of the British Basketball League and its leading club London Lions, as well as European football clubs Hertha Berlin and Genoa, 777 has been on a buying spree of late and has been linked with an investment in cash-strapped Everton.
The Merseyside club, who have reported losses of more than £430m in their last five annual accounts, are facing further financial challenges if they fail to avoid relegation from the Premier League this season.
Everton for sale?
Asked about 777 Partners’ reported interest in Everton, a senior figure at the firm told City PM: “We’ve done a number of football deals: 777 acquired Hertha Berlin, we acquired a Melbourne club [Victory], and there are rumours we are looking at a Premier League team, so we are in an acquisition phase.
“We are looking for interesting assets. I am spending most of my time on basketball but we’re acquisitive, we’ve been incredibly acquisitive in the sports sector and I think that’s going to continue in the near to long term future. It’s a question of how many of these things can you own before you stop doing it.”
The group began its European acquisition spree with the London Lions in 2020, followed by a 45 per cent stake in BBL and a takeover of Serie B side Genoa in 2021.
777 Partners, who also has a 15 per cent stake in Sevilla, acquired a stake in Standard Liege last year and last month bought 65 per cent of Hertha Berlin.
Miami-based 777’s multi-club model also includes Red Star FC of France’s third tier, Brazilian club Vasco da Gama and Melbourne Victory.
777 interested?
Everton have fallen on hard times but remain one of English football’s most historically popular teams.
One of 12 clubs to play in the first ever Football League season in 1888-89, they have been a mainstay in the top division since 1954-55, becoming champions in 1963, 1970, 1985 and 1987.
“There’s a general investment thesis around being around storied franchises, being around places where we think there’s a lot of opportunity that either hasn’t been captured or we think we can bring value,” they added.
“For sure you can apply that investment thesis to a football club if you want to in the UK. That’s about all I can say about that.”
Everton are currently in the Premier League relegation places, 18th in the table, with six games left this season.
The club’s owner, British–Iranian businessman Farhad Moshiri, bought a 49.9 per cent stake in 2016 and increased his holding to 94 per cent in 2022.
They are saddled with the spiralling costs of building a new stadium in Liverpool’s Bramley Moore Dock arena and have lost significant sponsorship income from being forced to cut ties with companies owned by sanctioned Russian oligarch Alisher Usmanov.