Ailing Toffees valued at £600m, but Moshiri may only make £150m from sale
Farhad Moshiri, the owner of Everton Football Club, is currently in negotiations to sell the struggling team to American investment fund 777 Partners. However, sources reveal that Moshiri could face a staggering loss of £450m. Despite valuing the club at £600m, it is understood that he would only recoup around £150m if the sale were to go through. This news comes as Moshiri continues to grapple with significant financial pressures surrounding Everton.
Financial challenges mount for Moshiri-owned club
It has been revealed that Moshiri still needs a minimum of £250m to cover the cost of Everton's proposed Bramley-Moore Dock stadium, which is estimated to be around £505m. Additionally, the club reportedly owes creditors £200m. These financial burdens have driven Moshiri to seek an exit strategy for the club, particularly after his business partner and Russian oligarch Alisher Usmanov faced sanctions related to his ties with Vladimir Putin 17 months ago.
Potential sale to American investment fund raises concerns
Miami-based 777 Partners, with a valuation of nearly £10bn, has emerged as a potential buyer for Everton. However, there are concerns about the company's involvement in ongoing legal disputes in the United States. The British government is reportedly taking these concerns seriously. Furthermore, doubts have arisen due to the questionable background of managing partner Josh Wander, who pleaded no contest for drug offenses in 2003. Sister company Sutton Park has also faced allegations of fraud and illegal loan offerings. Despite this, 777 Partners currently holds stakes in seven other clubs, including Genoa, Hertha Berlin, Sevilla, and Standard Liege.
Moshiri's significant investment and recent financial struggles
Moshiri, a British-Iranian businessman, acquired a 94% ownership stake in Everton in 2016 and has injected over £750m into the club since then, including significant loans amounting to approximately £250m. However, the club has suffered losses of £430m over the past four years, putting it under scrutiny by Financial Fair Play regulations and potentially facing a points deduction. These financial difficulties have coincided with Everton's on-pitch struggles, with manager Sean Dyche currently battling to keep the team from relegation.
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Everton fans express concerns over lack of investment
Amidst Everton's financial woes, disgruntled fans have voiced their frustrations with the club's lack of ambition and financial backing. Supporters of Standard Liege, one of 777 Partners' other clubs, protested inside the stadium with a banner reading: "No money, no ambition."
The future of Everton
With a potential sale to 777 Partners on the horizon, Everton's future remains uncertain. The outcome of the negotiations and the financial stability of the club will greatly impact the team's trajectory, both on and off the field.
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