Farhad Moshiri has agreed to sell his majority stake in Everton to 777 Partners
Having acquired a majority stake in Everton back in 2016, Farhad Moshiri’s tumultuous time as owner of the club is nearing its end.
The deal - where the finances involved in the acquisition have not been disclosed - now has to clear a number of hurdles before change is effected, with regulatory approval needed from the Premier League, the Football Association and the Financial Conduct Authority. Also a focus of the Josimar article was the 2003 conviction of Wander on drugs charges, to which he pleaded no contest, with his probationary period ending in 2018. The historic drug charges faced by Wander some 20 years ago are unlikely to be a barrier to acquiring the club, with the conviction now spent.
Moshiri’s controlling 94% stake in the club means that there is little minority shareholders can do to block any sale, but for creditors of the club they can raise objections should the terms of the takeover deal not agreeable.
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