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 reportedly worth more than £550 million ($685m).
Everton manager Sean Dyche addressed the takeover in his news conference on Friday.
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 takeover is subject to approval from the Premier League and FA.
"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.
The firm 777 Partners has a number of clubs in its portfolio, including Italian side Genoa and Belgian team Standard Liege, while they also have stakes in LaLiga club Sevilla and Australian A-League side Melbourne Victory.
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