Yesterday, struggling Everton club in the English Premier League announced that owner Farhad Moshiri had reached an agreement to sell the club to the American investment company 777 Partners for $685 million, according to confirmations from British media. The club added in a statement that 777 Partners, based in Miami, has reached an agreement to acquire the full stake of British billionaire Moshiri, amounting to 94.1% of the club’s shares, and the transaction procedures are expected to be completed by the end of the year. Everton has been on the verge of relegation to the second division in the past two seasons, and is currently in 18th place without any victory in the first four matches of the season. The American company acquires several clubs, such as Genoa, Italy, and Standard Liege, Belgium. It also owns shares in Sevilla, Spain, and Melbourne Factory, Australia. The previous owner spent approximately $800 million to build a strong team without success, as the club continued to reap negative results and record financial losses every year.
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