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15 The Everton Shareholders’ Association have urged the club to end negotiations with Genoa owners 777 Partners as swiftly as possible, with the organisation adding that they have been left ‘dismayed by the lack of respect’ shown to the Merseyside club since talks began back in September.
For well over six months now, 777 partners have been in negotiations to take over the 94.1% controlling state currently owned by Farhad Moshiri.
The Miami-based private investment firm, who have stakes in Hertha Berlin, Standard Liege, Red Star and Vasco da Gama, have also reportedly been funding Everton with loans of up to €200m in order to continue works on their new stadium at Bramley Moore Dock.
Everton Shareholders’ Association comments
“We are the oldest Shareholders’ Association in the world and are dismayed by the lack of respect being shown to our football club by the largest shareholder Farhad Moshiri and the Premier League during what seems a never-ending change of ownership process,” the ESA wrote in a statement.
“We have observed with concern and frustration as it became increasingly clear that a fit-for-purpose process cannot possibly take his long as the Premier League continues to demonstrate their inability to regulate.
“In the absence of the Premier League making a timely decision, we insist that the Everton board, and Farhad Moshiri in particular, stop this damaging process now and recognise that 777 Partners are not at this time fit-and-proper prospective owners of Everton Football Club.
“The powers-that-be are being disrespectful to our fellow shareholders, our fantastic worldwide fanbase and football as a whole by continuing to allow this face to continue. We demand and decision and we demand it now.”
Statement re Change of Ownership Process 
pic.twitter.com/csXNirQVzk
— EFCSA (@EFCSA) May 7, 2024
777 Partners background
777 Partners’ ownership of Genoa has not been a major cause for concern, as they were promoted back to Serie A in 2022-23 and have just secured their spot in the top flight for 2024-25 as well.
However, there have been concerns in other areas of 777 Partners’ portfolio.
Less than a week ago, the New York Times reported that the firm had a lawsuit brought against them in a United States federal court. The suit claims that 777 Partners had double-pledged assets, or used assets that didn’t actually exist, to secure loans in the region of $600m.
Everton Shareholders' Association urge Moshiri to end "farce" of takeover and recognised 777 Partners are not fit owners of Everton now: https://t.co/brnZ9AmP8x
— Richard Jolly 
(@RichJolly) May 7, 2024
