777 Partners are a Miami-based private investment firm who were founded in 2015 by Steven Pasko and Josh Wander, and 777 Partners is now a name that English football fans will surely be hearing a lot more of following the news that the company had struck a deal, subject to ratification from the Premier League and other relevant authorities, to take over as the new majority shareholders of Everton Football Club.
The incumbent majority shareholder since 2018 is British-Iranian businessman Farhad Moshiri, whose current stake amounts to 94.1% of the club’s shares. If all goes well and the deal is ratified, then his shares would pass into the hands of Pasko and Wander’s company, and see the Toffees become the eighth club in 777’s multi-club ownership model.
With teams across three different continents already under their belt, the Merseyside club would arguably become the most high-profile club under the firm’s control, and considering the currently perilous financial state at Everton, they would also surely gain access to the vast amounts of money at 777’s disposal were a deal to go through.
The company are said to be managing more than $6 billion in assets, with the total net worth of the firm at a reported $12 billion. So, with a brand new stadium under construction and a desperate need to improve their current playing squad after spending the last few years flirting with relegation from the Premier League, is this takeover good news for the club?
Now private equity firms have long been held in contempt by football fans when it comes to club ownership – to the fans, these companies are vulture-like, with only nefarious intentions in mind for their beloved club. In the mind of the fans (and in pretty much most cases), the number one goal of these companies when investing in football is to ultimately make a serious return on their investment no matter what – the actual needs of the clubs and their fans are almost always at the bottom of the list of priorities.
So, are 777 Partners any different? Who exactly are they, and what might they be like as owners of a Premier League football club?