Things have not gone properly for Everton in the recent past, which is why a move was required to correct their immediate future.
Earlier today, the club issued a press release informing of a front office change for the Toffees, which will see chairman Farhad Moshiri selling his shares to the 777 Football Group. This move is expected to benefit the club on the long run, as this group has been involved in some major changes featuring top European clubs.
Chairman Moshiri shared more reasons to make this move now in the document published by the team.
"The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton over seven years ago. The days of an owner/benefactor are seemingly out of reach for most, and the biggest clubs are now typically owned by well-resourced PE firms, specialist sports investors or state-backed companies and funds," Moshiri stated.
Later in the letter, Moshiri admitted that after discussions with different groups, the best option for Everton came with the offer made by the 777 Football Group.
"I have spoken to a number of parties and considered some strong potential opportunities. However, it is through my lengthy discussions with 777 that I believe they are the best partners to take our great Club forward, with all the benefits of their multi-club investment model," the exec added.
The managing partner of the 777 Football Group, Josh Wander, shared the entity's plans to get everyone involved in what could become a successful era not only for the team, but also for the Merseyside region.
"Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men's and women's teams that will deliver results for future generations of Everton supporters," Wander stated.
"As part of this, we are committed to partnering with the local community over the long-term, working on important projects such as the development of Bramley-Moore Dock as a world class stadium venue, allowing thousands more Evertonians to attend our home matches and contribute to the economic and cultural regeneration of Merseyside," the partner of the new owners added.
Everton's new ownership group is involved with quite a few of the most relevant teams in Europe and the world, including Vasco Da Gama, Sevilla, Standard de Liege, Hertha BSC, Genoa, and Melbourne Victory, among others.