Everton shareholders group calls on end of 777 Partners takeover
Public shareholders of Everton called upon the club’s majority owner, Farhad Moshiri, to stop the sale of the club to 777 Partners. The group called the ‘never-ending’ transaction of the club disrespectful as the future of the club remains unclear. In a letter to Moshiri and the rest of the Everton ownership group, the shareholders’ group said 777 Partners are not a capable steward of the club based on their inability to earn approval for this ownership change.
“We are the oldest Shareholders’ Association in the world and are dismayed by the lack of respect being shown to our football club by the largest shareholder Farhad Moshiri, and the Premier League during what seems a never-ending change of ownership process,” the Everton Shareholders’ Association said.
“In the absence of the Premier League making a timely decision we insist that the Everton board, and Farhad Moshiri in particular, stop this damaging process now and recognize that 777 Partners are not at this time fit-and-proper prospective owners of Everton Football Club. “
The message from supporters also targeted the Premier League. Everton has been the subject of controversy within the English top flight. Some of that comes in response to the points deductions Everton has picked up this season. Yet, in this most recent message, the group said the Premier League is not fit to regulate ownership change.
“We have observed with concern and frustration as it became increasingly clear that a fit-for-purpose process cannot possibly take this long as the Premier League continues to demonstrate their inability to regulate,” it said.
Everton shareholders lament the process that goes back to September with 777 Partners
The frustration among Everton supporters is evident. While this message is an attack on the Premier League, it slams 777 Partners and Farhad Moshiri. Moshiri, once called the worst owner in the league by Everton supporters, has not changed his mind. It is still at the forefront of Moshiri’s mind to sell the club and get out of Merseyside. Currently, Moshiri owns 94.1% of the club, having acquired much of that stake in 2022.
At times, the deal looked near completion. 777 Partners has secured more loans to help Everton’s finances. Also, one report said the Premier League was nearing approval of the supposed takeover. However, that all came on the back of a litany of legal and financial troubles surrounding 777. Some of those issues included several lawsuits against the American investment firm. The group also had issues with some of its other clubs, including a transfer ban on Vasco da Gama in Brazil. Finally, 777 Partners failed to disclose a $600 million loss to financial regulators, adding more woes to the ownership group’s openness.
All of this news has happened since the first report of a sale back in September. At the time, Moshiri said 777 Partners would secure the future success of Everton FC. However, all the group has done is add more criticism and issues to the club. Everton will be back on the market in search of a new prospective owner. Even if the shareholders’ group wants Moshiri to back out of the 777 Partners sale, it adamantly wants new ownership soon.
“The powers-that-be are being disrespectful to our fellow shareholders, our fantastic worldwide fan base and football as a whole by continuing to allow this farce to continue. We demand a decision, and we demand it now.”
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