Who exactly are Everton's new owners 777 Partners? | OneFootball

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Described by talkSPORT pundit Simon Jordan as a “car crash”, Farhad Moshiri’s tenure as owner of Everton Football Club has been a tumultuous, unnerving whirlwind for everyone associated with the historic club. Football has a punctilious habit of exposing the grossly inept in the most public way fathomable and separating those with more money than sense from the owners who combine business acumen with an immense faculty to delegate successfully. There is a harsh, often brutal reality to football club ownership, and those guided by ego and sentiment have frequently learned the hard way - usually via player mutinies and fan protests.

After consecutive seasons dancing with the devil at the foot of the Premier League table, Evertonians have been up in arms over the mismanagement of their cherished club, and the directionless overspending that has resulted in repeated run-ins with FFP regulators. Since Moshiri’s part-takeover in 2016, the Toffees have spent the best part of £800 million, burned through 10 managers, and staved off the threat of relegation twice. In what is supposed to be an exciting new dawn for the club, with the brand new Bramley-Moore Dock just a year away from completion, an ownership storm should be the last thing occupying the minds of the Goodison Park faithful.

With little to show for the eye-watering sums shelled out on misfiring transfers, the fruitless string of managers, and recurring FFP issues, the prospect of American company 777 Partners’ takeover of the Merseysiders will not only offer a much-needed reprieve from the perpetual negativity but hope to many Evertonians who have become severely alienated by the current regime. With Everton now confirming that 777 Partners have signed on the dotted line to assume Moshiri’s 94.1% stake, it begs the question; who exactly are the Toffees' new owners?

Who are 777 Partners?

Founded in 2015 in Miami, American firm 777 Partners are an investment company, specialising in several core industries including Sports, Media, Entertainment, Insurance, Fintech, Aviation, Litigation Finance, Private Credit and Sustainability. According to the 777 Partners website, the company “acts like owners” and “operates with high integrity in everything we do, seeking to have a positive and enduring impact on the people and communities we serve,".

“We are entrepreneurs who serve entrepreneurs. We seek growth and understanding and have the tenacity, ingenuity, and agility to entrepreneurially build businesses and are willing to get our hands dirty in the process.”

They go on to say, "We win together with care, consideration, and empathy for the wellbeing of our partners and people by building lasting relationships of trust. We align incentives and operate with shared goals with our investors, employees, and partners."

Football involvement

The Miami-based firm throughout its eight-year existence, have constructed a considerable portfolio of over 50 businesses. As a part of their stable of companies, 777 Partners have acquired shares in a whole host of football clubs in recent years. The business owns the likes of Genoa in Serie A, Standard Liege in Belgium’s Pro League, French third-tier side Red Star FC, as well as majority stakes in both Bundesliga 2 club, Hertha Berlin, and the Australian A-League side, Melbourne Victory.

As of last year, the company also took up a 15% part ownership in La Liga’s Sevilla, having originally taken a minority stake in 2018. Despite previous investments, Everton is by far and away 777 Partners' biggest acquisition in the sport to date in terms of value, as well as the size, stature, and significance of the football club which is currently operating in arguably, the world’s most well-renowned and richest league.

What is 777 Partners’ net worth?

As you can imagine, 777 Partners are by no means short on cash, and as a major player in one of the world’s most financially demanding sports, the fact the company have six other clubs in their portfolio is indicative of the riches at their disposal. The private investment firm’s net worth is reportedly valued at £9.63 billion ($12 billion), which would make Everton the fifth-richest club in the Premier League behind Arsenal, but ahead of the likes of bitter crosstown rivals, Liverpool in addition to Tottenham and Aston Villa. 777 Partners are £7 billion wealthier than current Everton owner, Farhad Moshiri.

What do we know about the company’s founders?

The company’s founders are listed as Steven Pasko and Josh Wander, two affluent businessmen with vast experience in investment and financial services. It was reported by The Guardian that the company was unlikely to pass the recently revamped, and increasingly watertight owners and directors test due to past allegations by a former employee, as well as investigations into fraudulent activity, an accusation the company has vehemently denied.

In 2003, founder Josh Wander was caught up in a drug scandal involving the distribution of 31 grams of cocaine. While at university, Wander was arrested for attempting to deliver a substantial quantity of cocaine through the mail. Charged with the offence, and then later found guilty, Wander had to serve a lengthy parole period which concluded in 2017.

During an interview with the Financial Times, Wander responded to the incident that unfolded almost 20 years ago, “It was a stupid college thing… All the success that I've had has been even though every time I've tried to do something, somebody brings that up and throws it in my face," he said.

"And when I got involved in investing in sports, it became a perfect opportunity for those people that are haters to try to destroy you with somewhat meaningless things.

What does the takeover mean for Everton, Bramley-Moore Dock, and the club’s future?

Of course, the imminent 777 Partners takeover may leave some fans questioning what it means for the construction of the club’s new home at Bramley Moore Dock. With the new ground forecast to cost around £760 million, with £400 million of the expense coming directly from Moshiri’s pocket, some concerns were raised over the future of the project. It has since been confirmed by Moshiri himself.

In a statement on the club’s website, Moshiri stated: “I have been open about the need to bring in new investment and complete the financing for our iconic new stadium at Bramley-Moore Dock, on the banks of the Mersey, which I have predominantly financed to date. I have spoken to several parties and considered some strong potential opportunities. However, it is through my lengthy discussions with 777 that I believe they are the best partners to take our great Club forward, with all the benefits of their multi-club investment model.”

The current owner added, "As a result of this agreement, we have an experienced and well-connected investor in football clubs who will help maximise the commercial opportunities, and we have secured the complete financing for our new stadium, which will be the critical element in the future success of Everton. Today is an important next step in the successful development of Everton and I look forward to closely following as our Club goes from strength to strength.”

With exciting new beginnings on the horizon for the blue half of Merseyside, supporters will be hoping that with the inception of their state-of-the-art stadium facilities and mega-rich owners lends itself to the rejuvenation of their football club after a forgettable spell in their history.

As far as 777 Partners' current stable of clubs is concerned, it has been a real mixed bag thus far. Sevilla are a case study into what can go well under the company, having won yet another Europa League last season, ensuring another season in the Champions League for the 2023-24 campaign. However, the picture at Belgian side, Standard Liege isn’t so rosy. In recent times, there has been much in the way of unrest among the fans of the Belgian Pro League club, who have taken an ardent dislike to the ownership, blaming them for the club’s failure to qualify for Europe last term after finishing sixth, and things haven’t started well for them this season either, with the club winless in their first six games of the new campaign.

What have 777 Partners said about the takeover and their ambitions for the club?

In a statement distributed via Everton’s website, Josh Wander said: “We are truly humbled by the opportunity to become part of the Everton family as custodians of the Club, and consider it a privilege to be able to build on its proud heritage and values.”

Wander added: “Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men’s and women’s teams that will deliver results for future generations of Everton supporters. As part of this, we are committed to partnering with the local community over the long term, working on important projects such as the development of Bramley-Moore Dock as a world-class stadium venue, allowing thousands more Evertonians to attend our home matches and contribute to the economic and cultural regeneration of Merseyside.”