Everton in major takeover development ahead of Arsenal clash

Arsenal’s next opponents Everton have announced that they have agreed a deal with 777 Partners for them to acquire Farhad Moshiri’s full stake in the club. The transaction is expected to be finalised in the final quarter of 2023.

The Toffees have been under their current regime since 2016 and their ownership has been the subject of criticism over recent times. As covered by BBC Sport, they are now ‘set’ to have new owners subject to Premier League, Football Association and Financial Conduct Authority approval.

Arsenal head to Goodison Park on Sunday as they look to continue their unbeaten start to the new campaign. Their next opponents are yet to win this term under Sean Dyche.

777 Partners are an American investment firm and it the takeover goes through then half of the teams in the top flight would be American-owned. The group also own Sevilla, Genoa, Hertha Berlin and Standard Liege.

Moshiri has issued the following statement to shareholders: “Dear Shareholders, I am writing regarding my intention to sell my shareholding in Everton to 777 Partners.

“As you are aware from my open letter in July last year, I have been clear about the need to bring in new investment and complete the financing of our iconic new stadium at Bramley-Moore Dock, something that I have predominantly financed to date. The requirement for this has only become more apparent to me as we continue to see rapid changes in the nature of ownership and financing of top football clubs.

“The last two transfer windows have shown that the days of an owner/benefactor are seemingly out of reach for most and the biggest clubs are now typically owned by well-resourced PE firms, specialist sports investors or state backed companies and funds.

“In seeking investment, I have spoken to a number of parties and considered some strong potential opportunities.

“However, it is through my lengthy discussions with 777 that I firmly believe they are the best partners to take our great Club forward with all the benefits of their multi-club investment model.”