11/3/2023 0 Comments Everton andy king“Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men’s and women’s teams that will deliver results for future generations of Everton supporters. Today is an important next step in the successful development of Everton and I look forward to closely following as our club goes from strength to strength.”ħ77 Partners’ portfolio 777 Partners’ portfolio “As a result of this agreement, we have an experienced and well-connected investor in football clubs who will help maximise the commercial opportunities, and we have secured the complete financing for our new stadium, which will be the critical element in the future success of Everton. However, it is through my lengthy discussions with 777 that I believe they are the best partners to take our great club forward, with all the benefits of their multi-club investment model. I have spoken to a number of parties and considered some strong potential opportunities. “I have been open about the need to bring in new investment and complete the financing for our iconic new stadium at Bramley-Moore Dock, on the banks of the Mersey, which I have predominantly financed to date. 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. The club have also racked up debts of more than £417m in the past five years and will appear before an independent commission in October over an alleged breach of financial fair play rules.Įverton’s owner, who will write to the club’s minority shareholders asking for their support in the coming days, confirmed: “The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton over seven years ago. Everton have narrowly escaped two successive relegation battles and are without a win in the new Premier League season after another troubled transfer window. Moshiri has invested more than £750m in Everton since becoming a shareholder in 2016 and majority shareholder in 2018 but the club have gone backwards under his ownership. MSP and another Everton creditor, Rights and Media Funding, could object to the 777 deal or insist on having loans worth a combined £300m repaid. Takeover talks between the British-Iranian billionaire and the Miami-based company had advanced after the collapse of a proposed equity deal with another American investment firm, MSP Sports Capital, which has loaned £100m towards the construction of Everton’s new stadium at Bramley-Moore Dock. Premier League owners Premier League owners
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