Everton’s struggles under the ownership of Farhad Moshiri are set to come to an end with the club’s sale now said to be close.
Reports claim that US-based investment firm 777 Partners are on the verge of completing a deal to buy the Toffees.
Moshiri is on the brink of selling Everton
This news will delight fans from the blue half of Merseyside after experiencing years of disarray on and off the pitch at Goodison Park.
But why is Moshiri finally selling Everton and will it affect the club’s new stadium? talkSPORT.com takes a look…
Why is Farhad Moshiri selling Everton?
Moshiri is now selling Everton due to financial issues and multiple fan protests.
The Toffees fans have made their feelings towards their owner known over the years, protesting before games last season.
The supporters also called for the entire board to be sacked and a plane was even hired to fly over the stadium with a banner reading ‘League’s worst-run club’.
Since then, multiple senior member have left their positions on the board but Moshiri and chairman Bill Kenwright remain.
The businessman has never officially stated that the club is up for sale but told a fans advisory board that he was talking to ‘top investors’.
And BBC Sport claim that a source admitted Moshiri has been looking for investment in the club for a while.
Earlier this year, Everton posted financial losses for the fifth year in a row and they are soon required to go before an independent commission for an alleged breach of FFP rules.
This combined with the £700million plus construction of their club’s new stadium leaves Moshiri in huge financial trouble.
So with the issue mounting at the club, it seems he has now decided to sell with an agreement with 777 Partners close to completion.
Everton’s new stadium is under constructionGetty
What does the takeover mean for Everton’s new stadium?
The reported imminent takeover of Everton has led to questions about the future of the club’s new stadium which is currently under construction.
Moshiri had been seeking external funding for the stadium for some time and a deal was said to be agreed with MSP Sports.
However, that collapsed after MSP withdrew from talks over a minority stake purchase.
After that broke down, Everton are said to have re-entered talks with 777 Partners who are set to take over imminently.
And it is likely they will be paying for the club’s new stadium once the takeover is complete.
However, that news is not confirmed, with an update expected once the sale have been officially announced.