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777 Partners LLC, a US investment firm, has reached an agreement to acquire 94.1% of Everton FC, an English Premier League club.
The deal comes after months of negotiations between Everton’s owner, Farhad Moshiri, and potential buyers.
Everton has been facing financial difficulties and poor performances on the field, as well as undertaking a costly stadium project.
The acquisition gives 777 Partners a foothold in the Premier League, joining other American owners of top teams.
Everton, one of the founding members of the English Football League, has never been relegated from the Premier League but has narrowly avoided relegation in recent seasons.
The takeover is subject to approval from the Premier League.
This article was updated 3 months ago