Premier League Everton football club is set to have a new boss after Farhad Moshiri agreed to sell his 94 percent stake in the club to the American investment fund 777 Partners.
The takeover would bring to an end the tumultuous tenure of British-Iranian Moshiri, who first invested in 2016.
According to Farhad Moshiri, the sale is expected to be completed by the end of 2023, subject to Premier League, Football Association, and Financial Conduct Authority approval.
“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, “Josh Wander the American Investment Fund 777 founder said.
He added that, they are looking forward to working together with supporters to develop the sporting and infrastructure.
“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,” he said.
The takeover would mean half of the 20 top-flight clubs are American-owned.
Currently, Everton lie 18th in the Premier League after picking up just one point from their opening four games this season.