September 18, 2023: English soccer club Everton to be bought by American investment firm 777 Partners.

The Miami-based asset fund stated that it had observed an agreement with British-Iranian billionaire Moshiri to receive his 94.1% stake in the club.

“We are humbled by the opportunity to become part of the Everton family as club custodians, and consider it a right to build on its proud heritage and values,” said Josh Wander, architect and managing partner of 777 Partners.

The firm 777 Partners has several clubs in its portfolio, including Italian side Genoa and Belgian team Standard Liege, while they also have stakes in LaLiga club Sevilla and Australian A-League side Melbourne Victory.

Moshiri, a former Arsenal shareholder, first bought a 49.9% stake in Everton in 2016.

By January 2022, he had increased his stake to 94.1% with a 100 million pound capital injection.

But despite investing nearly 750 million euros in transfers to build the squad since Moshiri’s arrival, Everton carry dropped out of the top half of the table to fight relegation matches in recent seasons.

Everton narrowly avoided relegation from the top flight in the last two seasons and are currently 18th in the standings without a win in four games this season.