It could be simple to overlook that a buyout is still in progress amid all of the turmoil that has surrounded Everton in recent days.
In September, it was decided that 777 Partners would buy out Farhad Moshiri’s entire 94.1% ownership position in the team, taking over as the majority owner. The Miami-based company, which owns multiple clubs including massive sides like Sevilla, Standard Liege, and Melbourne Victory, would add another gem to its collection.
But the Toffees would vault to the top of that billing right away.
Despite recently been fined for breaking their profit and sustainability policies, they continue to benefit financially from the ridiculous competition as a Premier League team.
Even though Josh Wander and his friends’ validity has been questioned by many, their enormous wealth is undeniable.
However, as a party unfazed by the recent developments, a report written by journalists Paul Brown and Philippe Auclair for Josimar has described how they intend to buy Everton, using loans to obtain the majority ownership.
“Now, we can reveal that another insurance company called Haymarket has already provided 777 with 350 million euros for the purchase of Everton – and that this figure could rise to 500 million euros (£436 million) if necessary,” the authors wrote.
How much are 777 Partners worth?
considering their affluence, it’s a shocking turn of events to witness 777 Partners embezzle money, but there should be some explanation for this considering how they amassed such enormous riches.
Ultimately, before to starting to acquire football clubs as collectibles, the company faced accusations of engaging in “predatory financial practices,” as reported by the Washington Post.
They became pioneers in the purchase of Structured Settlement Annuities, a tactic that allowed them to take advantage of the weak and make enormous profits while preying on the vulnerable.
That being said, not many can contest its wealth, which is estimated to be $12 billion (£9.63 billion).
If their agreement to buy Everton is approved, the Merseyside team will move up to fifth place among the richest Premier League owners.