If Everton is taken over by 777 Partners as expected, they will become part of a ‘timeshare’ project.
That’s according to Corriere dello Sport, who covered the anticipated takeover at Goodison Park today after Farhad Moshiri announced his intention to sell to the firm yesterday.
Moshiri has been looking for further investment at Everton for several months, as the cost of building the stadium at Bramley Moore dock and keeping the Toffees afloat continues to rise.
He appears to have decided to cut ties and stated yesterday that he has struck an agreement to sell his shares to 777 Partners.
The American Fund is part of an increasing trend of football investment firms that control many clubs around the world, including clubs in Italy, Belgium, Spain, Germany, and Brazil.
The Italian side is Genoa, prompting CDS to cover the deal today, stating that 777 Partners’ recent acquisition is “an important step towards the construction of a multi-ownership structure.”
After Moshiri’s failed reign, they believe it will be up to them to’relaunch ambitions’ at Goodison Park, but that will be a ‘demanding challenge’ and not their primary goal.
They’re more interested in establishing a ‘timeshare in football’ by owning multiple clubs and reaping the benefits that come with it.
The publication says those advantages including ‘an expanded player pool’, satellite clubs which can ‘serve as a nursery’ and even the development of a ‘internal market’ administered by the holding company that can ‘raise the worth of footballers’.
There is also ‘centralisation of sponsor management’ across all of the clubs, while the owners promote ‘financial diversification’.
The latter is viewed as more advantageous for owners who, like an investor, build a diverse investment portfolio that can compensate for unanticipated reductions in the value of one security with the appreciation of others. Everton, with their Premier League cash, would seem to be one such asset for smaller clubs like Hertha Berlin and Standard Liege.
Finally, CDS asks, ‘What can Genoa expect?’ However, the answer is ‘not much immediately’. They feel a ‘timeshare’ such as this might be desirable as it strengthens the shareholder and hence boosts ‘operation potential’.
The feeling is that the transaction is more about strengthening the buyer than the team being bought, which is a concerning thought for a club as plainly poor as Everton at the present.
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