Everton FC secures loan from potential new owner 777 Partners while Liverpool FC strikes new commercial deals, with both raising a reported combined figure of £55m. Tony McDonough reports
Both Everton FC and Liverpool FC have raised new funds totalling a reported £55m.
Everton have secured what is reported to be a £20m from 777 Partners, the US-based investors which last week agreed a deal to buy a majority share in the club. Liverpool FC have signed new commercial deals said to be worth around £35m.
On Friday last week Everton announced that Farhad Moshiri had agreed to sell his 94.1% stake in Everton FC to Miami-based investors 777 Partners.
In an open letter to supporters, Mr Moshiri, who first invested in Everton in 2016, said the construction of a new stadium at Bramley-Moore Dock meant fresh investment was needed.
He said: “I have been clear about the need to bring in new investment and complete the financing of our iconic new stadium at Bramley-Moore Dock, something that I have predominantly financed to date.
“…In seeking investment, 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 firmly believe they are the best partners to take our great club forward with all the benefits of their multi-club investment model.”
On Monday evening it was reported that 777 had agreed a loan to the club to provide short-term working capital, believed to be around £20m.
Closing of the sale of the majority stake to 777 is expected to occur in the fourth quarter of 2023. It remains subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.
On Tuesday, Liverpool FC said it had signed a multi-year sponsorship deal with global shipping giant UPS. The US company becomes the club’s first ever global logistics and shipping partner.
This partnership is expected to boost Liverpool’s retail and e-commerce operations, allowing fans to get their hands on merchandise “quicker and more efficiently”.
Liverpool has already confirmed new deals with Peloton and Google and it is believed the combined value of all three agreements is around £35m.
READ MORE: Avanti secures nine-year West Coast rail contract
Ben Latty, the club’s commercial director, said: “As one of the world’s largest companies, UPS are bringing a wealth of knowledge and expertise to our already successful retail operations.
“We are looking forward to seeing the impact this will have, and how it will improve fans’ experiences around the world.”