777 Partners LLC is weighing an investment in Everton FC, a person with knowledge of the matter said, as more American buyers circle England’s top football clubs.
(Bloomberg) — 777 Partners LLC is weighing an investment in Everton FC, a person with knowledge of the matter said, as more American buyers circle England’s top football clubs.
Miami-based 777, led by managing parters Steven Pasko and Josh Wander, is interested in potentially acquiring a minority stake in Everton, the person said, asking not to be identified discussing confidential information.
Based in the northwest of England, Everton is one of just a handful of clubs that have never been relegated from the Premier League—Europe’s richest football league. But that record is under threat after a string of poor performances this season has left the club battling to preserve its top flight status.
Everton’s owner Farhad Moshiri has separately held preliminary discussions about selling a stake to MSP Sports Capital, another US investment firm, Bloomberg reported last month. Any new money injected into the club may be used to help Everton with the construction of a new state-of-the art stadium.
MSP is also reportedly interested in making a bid for Premier League team Tottenham Hotspur FC, which would reduce the chances of it investing in Everton and create an opening for 777.
Deliberations are ongoing and there’s no certainty that 777 will decide to proceed with an offer, according to the person. Representatives for 777 and Everton declined to comment.
As a so-called multiclub owner, 777 has been steadily building a stable of football investments that includes clubs from Belgium to Brazil. Late last year, it agreed to buy a majority stake in German Bundesliga team Hertha BSC.
Proponents of this model point to cost synergies and the potential to strike more lucrative sponsorship deals. Americans, in particular, are drawn by the growth potential and lower valuations in European football compared with sports franchises back home. Multiclub’s critics say it stifles competition and creates feeder teams with no real prospect of success.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.