777 Partners aim to raise €5 million through fan scheme amid Everton takeover bid

The prospective new owners of Everton are aiming to raise several million euros for one of their current clubs they’re at the helm of.

The company 777 Partners are in talks about completing a takeover of the Toffees from majority shareholder Farhad Moshiri. The Miami-based firm restarted talks with Moshiri after MSP Sports Capital walked about from an investment deal when their exclusivity period ended.

777 Partners already own several football clubs that include Genoa, Standard Liege, Hertha Berlin, Red Star and Vasco de Gama as well as stakes in Sevilla and Melbourne Victory.

At Genoa, a scheme called the ‘Genoa Bond’ has been launched for fans to invest in the club. Josh Wander, co-founder of 777, fronts the video discussing the scheme, which is being headed by London-based investment company Tifosy. It is said that funds are being raised to build ‘state-of-the-art facilities for the club’s academy and administrative facilities for the women’s team’. It will include dormitories, a cafeteria, communal areas, study rooms, offices and an 11-a-side football pitch.

Genoa have set an initial funding target of €5 million and say it is ‘designed to offer an attractive return on investment, whilst supporting the club’s vision and long-term strategy’. The minimum people can invest is €1,000 with 9% interest per annum that is fixed for five years ‘after which the investors will be repaid their initially invested capital and any accrued interest’.

Genoa CEO Andreas Blazquez said: “We believe, in order to be successful with Genoa, we need to be deeply involved with our fan base in the city and with the city.

“For this reason, we decided to issue the bond so that local ‘tifosi’ can participate in the success and they feel an integral part of the process. Beyond local stakeholders, we also want to expand this offering to the wider investor group. We believe the training ground will become the foundation for the sustainability and future of Genoa.”