There’s another American ownership group looking to grab a piece of the Premier League pie.
Everton owner Farhad Moshiri is reportedly in advanced discussions with American investment firm 777 Partners regarding a potential majority purchase of the struggling Premier League club.
777 Partners, which already owns several European clubs including Serie A side Genoa, Belgian giants Standard Liège, and German Bundesliga side Hertha Berlin, previously held talks with Moshiri over acquiring a 25 percent stake in Everton earlier this summer. However, those negotiations fell through, leading 777 Partners to return to the negotiating table for a potential full takeover of the club.
The firm has expressed its desire to invest in a Premier League side since its initial investment in Spanish club Sevilla in 2015.
Despite Everton’s poor start to the season and an upcoming independent commission for an alleged breach of financial fair play rules, 777 Partners remains confident in its ability to acquire the club.
Everton has been seeking outside investment to complete its new stadium, and Moshiri has previously explored funding options for the project. Any potential takeover would be subject to the Premier League’s owners and directors test. There are concerns regarding whether 777 Partners would pass.
The test was strengthened in March and allows the league to reject individuals from becoming directors if they are under investigation for conduct that could lead to a disqualifying event if proven. 777 Partners has faced accusations of fraud and breach of contract in a civil case brought by Timothy O’Neil-Dunne, a former employee of the firm. O’Neil-Dunne worked at 777 Partners from 2018 to 2021 and previously served as the chief commercial officer at Flair Airlines. 777 Partners has vehemently denied these allegations in a statement.
Furthermore, Joshua Wander, one of the owners of 777 Partners, has a past legal issue. In 2003, he was arrested after receiving a package containing 31 grams of cocaine at his address. Wander later admitted that the drugs were intended for him and a friend. He was sentenced in 2004 and served a long period of parole, which ended in 2018. 777 Partners has referred to this incident as a “single misdemeanour charge from 20 years ago” and considers it to be ancient history, according to a statement given to the Brazilian newspaper O Globo.
Presently there are no American majority owners involved in the Canadian Premier League or Diana Matheson’s Project 8 Canadian women’s pro league plan, but it’s hard not to wonder if American soccer money may look north for a more affordable, and arguably rewarding, investment close to home.