English soccer club Everton to be bought by American investment firm 777 Partners

Premier League team Everton will be bought by American private investment firm 777 Partners. Majority shareholder Farhad Moshiri has agreed to sell his 94.1% stake in the Premier League club. He says the sale would secure financing to complete a state of the art stadium that is currently under construction. Moshiri says "Everton will play in a stadium that will be the envy of the Premier League and beyond.” Miami-based 777 Partners already has stakes in a number of soccer teams. The firm completed a majority stake takeover of Hertha Berlin in March and its other clubs include Sevilla, Genoa, Vasco de Gama, Standard Liege, Red Star FC and Melbourne Victory.