Everton are currently involved in the process of being sold to Miami-based investment group, 777 Partners.
That sale is close to being finalized, as Toffees majority owner Farhad Moshiri is in discussion with the US Investment firm.
777 partners want to get the acquisition done in a quick time, as they are eager to include Everton in their business portfolio.
They have invested in several clubs, including Vasco da Gama of Brazil, Standard Liege and Italian club Genoa.
The Miami-based investment firm also has assets in aviation with low-budget airlines across Canada and Australia.
Moreover, their investment in Hollywood film studio STX Entertainment cannot be underestimated, and they had received flack for their efforts.
They were involved in the production of The Irishman, a movie that was nominated for the Oscars, and they are also preparing another blockbuster movie.
The Ferrari movie, which intends to describe the life of Enzo Fernandez is on the way, and many can’t wait for it to be released. The release date for the movies has been set for November 30, 2023.
Anyway, let’s describe what the investment firm, 777 Partners are all about, their investments, owners, and more.
History
The investment firm was established in 2015 by two business entrepreneurs; Steven Pasko and Josh Wander.
Their primary focus was on seven main industries: Insurance, Aviation, Sports, Media and entertainment, Fintech, Litigation Finance, Private Credit, and Sustainability.
777 partners have over 50 portfolio companies across the world, and they operate in over 20 countries globally.
However, seeing the financial benefits of sports, they wasted no time in venturing into the industry.
777 Sports involvement
In 2018, They found a golden opportunity to invest in La Liga, and they acquired a minority stake at Sevilla.
After making their presence felt in the Spanish top-flight football division, they raised their share to 7.5%, and many could see that it was the beginning of more such investments.
The US investment firm acquired 99.9% of Serie A club Genoa, Italy’s oldest club, having been existing since 1893.
They spent about £130 million in acquiring Genoa, and they continued in that stead by acquiring a 70% stake in Vasco da Gama, one of the biggest clubs in Brazil.
They bought Vasco da Gama for about £113 million, and that amount was the biggest takeover amount in Brazilian football history.
The club was valued at about £275 million, although the club aren’t in the best of form at the moment, as they sit 18th in the Brazilian Serie A table.
777 partners are in complete ownership of Belgian club Standard Liege, and they also own Germany’s Hertha Berlin.
In Australia, they have a minority stake in Melbourne Victory, and they have also spread their tentacles to France.
There was pushback when they acquired France’s third-division club Red Star due to the history of the club.
Concerns over what the club would become following the acquisition came to the fore, but over time those agitations were reduced.
777 partners also have investments in basketball in the United Kingdom, precisely London, as they have also acquired London Lions.
London Lions are the only men’s professional basketball team based in London.
The US investment have also pumped in £7 million for the British Basketball League, which equates to about 45% in ownership of the league.
777 partners and Aviation
Their niche is the low-budget airlines investment, and some of their assets include; Flair Airlines, a Canadian company that operates with a fleet of Boeing 737s.
Bonza, an Australian airline company, is also backed by 777, and they are also another low-budget airline company.
They specialize in travels within Australia, and there is a possibility that one of these airlines could become a shirt sponsor of Everton when the takeover is completed.
777 investment in Hollywood
They also have investments in Hollywood, having put their money into a Hollywood film studio called STX Entertainment.
Their investments have yielded immense dividends, including producing movies that have been nominated for the Oscars.
In January 2020, the Irishman was nominated for an Oscar, and the movie starred several big names including; Al Pacino and Robert De Niro.
They could also be on for more success in 2023, with a movie titled Ferrari, which is still in the works.
The movie received a seven-minute-standing ovation from an audience at the Venice Film Festival in Italy.
777-affiliated companies involved in illicit activities?
There was a damning article from Josimar Football, which claimed that companies affiliated with the investment group were involved in activities like kidnapping, predatory lending, and fraud.
However, 777 partners have squashed those reports stating that they are “inaccurate and defamatory.”
777 partners and Everton?
Everton have been battling financial issues over the years, and they need a new ownership that will nurse them back to a healthy financial state.
Meanwhile, Everton’s owner Farhad Moshiri faces the possibility of losing about £450 million, even if he succeeds in selling the club for about £600 million.
Moshiri values the club for about £600 million, and futballnews understands that he would only be claiming about £150 million, if and when he sells the club.
This is due to several costs that include the cost of building a new stadium, amounts owed to creditors, and other overhead cost.
The 777 partners are valued at about £10 billion, and they would also need to pass the Premier League owners and directors integrity test.
