Everton will now be part of 777
Hertha investor buys reeling Premier League club
September 15, 2023, 6:13 p.m
It is controversial among Berlin fans, and Hertha investor 777 Partners is now expanding its portfolio: The US investment company is buying into Premier League club FC Everton and taking over almost all of the club’s shares.
Hertha investor 777 Partners is taking over Premier League club Everton FC. The previous owner Farhad Moshiri is selling his entire stake, which accounts for 94.1 percent of the club’s shares, to the US investment company, the Liverpool club announced. The deal is expected to close in the fourth quarter of 2023 and is subject to approval from regulators, including the Premier League, the Football Association and the Financial Conduct Authority, the statement said.
The club did not provide any information about the purchase price. In addition to Hertha and the Paris suburb club Red Star Paris, the US investor’s portfolio also includes FC Sevilla (Spain), Standard Liège (Belgium), Vasco da Gama (Brazil), Melbourne Victory (Australia) and CFC Genoa (Italy). Everton played the worst Premier League round in its history last season and was only able to narrowly avoid their first relegation since the 1950s with a win on the final day of the match. After three defeats from four games this season, Liverpool FC’s city rivals are in the relegation zone with just one point.
“New wave of commercialization”
Since Thursday, Joshua Wander, the boss of 777 Partners, has also been on the board of the powerful European Club Association. Wander was elected to represent Belgian club Standard Liège.
He recently caused a stir with statements about the commercialization of football. “We firmly believe that a new wave of commercialization is coming to football,” Wander told the Financial Times. “The vision for this football group is that one day we won’t just be selling hot dogs and beer to our customers, but insurance or financial services or whatever,” he said. The fans’ intense ties to their clubs show that they want to be monetized.
777 Partners invested in clubs that “did a poor job of marketing the product.” The company has a stake in several football clubs, including, since the spring, the financially struggling second division football team Hertha BSC. The previous investor Lars Windhorst and his Tennor Holding sold their shares to the US investment company. To this end, 777 acquired additional shares in Hertha and invested 100 million euros. Next season they want to be profitable with their clubs, said Wander. Like Windhorst, the new investor is extremely controversial among the organized Berlin fan scene.