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| Reuters |
Everton have been sold to 777 Partners, the struggling Premier League club said on Friday, with the U.S. private equity firm taking over from Farhad Moshiri in a deal reports said was worth more than 550 million pounds ($685 million).
The Miami-based investment fund said it had signed an agreement with British-Iranian billionaire Moshiri to acquire his 94.1% stake in the club. The deal is expected to be closed by the end of the year, a club statement said.
"We are truly humbled by the opportunity to become part of the Everton family as custodians of the club, and consider it a privilege to be able to build on its proud heritage and values," said Josh Wander, founder and managing partner of 777 Partners.
