Farhad Moshiri 's disastrous reign as Everton owner could be over in a matter of days, amid reports the Toffees are close to being sold.
American investment fund 777 Partners are set to complete a £600million takeover swoop - but only if Everton remain a Premier League club. Goodison Park chiefs hope to have the deal completed as soon as next week, although 777 would like to have survival guaranteed before signing off on it.
The Daily Mail report that a second bidder, MSP Sports Capital, remained in the chase on Wednesday night, despite them being clear second favourites. Other parties are interested but time is running out, with the unpopular Moshiri ready to hand over the keys to Goodison Park, and their new stadium, after seven calamity-filled years at the club.
In February 2016, the British-Iranian businessman purchased a 49.9 per ent stake in Everton after selling his shares at Arsenal. Having increased his stake to 94 percent last year, Moshiri has still failed to win over fans, whose continued protests and unwelcome receptions have left him and fellow board members unable to attend matches at Goodison Park over security fears.
Despite spending around £700m on new players since Moshiri arrived, the Toffees are once again fighting to escape relegation to the Championship, a fate which they avoided last season under former manager Frank Lampard with one game to spare. Sean Dyche' s side will do so again if they take all three points at Wolves on Saturday, and both Leeds and Leicester lose.
Survival is set to mark a new era on Merseyside, with 777 poised to take over and eventually lead Everton into their new stadium on Bramley-Moore Dock in 2024. The Miami-based firm boast a wide-ranging portfolio ranging from sports and entertainment to a variety of other industries such as insurance and aviation.
777 already have stakes in football clubs around the world, including Spanish side Sevilla, Italian outfit Genoa, Brazilian behemoths Vasco de Gama and Standard Liege in Belgium. The group claims that one of their "defining traits" is how they "excel at identifying potential where others do not."
The news of Everton's imminent sale comes after Moshiri, 68, denied opening up the club to buyers. He told the Toffees' Fan Advisory Board in January: "The club is not for sale but I have been talking to top investors, really quality, to bridge a gap on the stadium. I can do it myself and the reason I want to do it is to bring top sport investors to Everton.
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"We are close to having a deal done. It is not selling the club at all. It is bringing more expertise in terms of sponsorship, commercial development and a lot of specialist sport investors have this pool of knowledge. The stadium is the best-performing area of our operation at the moment: on time, on budget. Once we get through the current underperformance fans can start dreaming with me.
"The stadium was never a luxury for Everton. For us, it was a necessity. If you want to start it today, the cost would be well in excess of £1.1 billion. This stadium lasts well past my tenure, well past our lives. It should be part of that hope for our fans to get us through this."
