---
title: "Everton’s failed 777 takeover provides warning as club considers ownership future"
canonical: "https://readeverton.com/everton-777-takeover-josh-wander-ownership-warning/"
type: "post"
language: "en-GB"
author: "Gary Gowers"
section: "Everton News"
published: "2026-10-21T15:00:51Z"
modified: "2026-10-21T15:00:52Z"
---

# Everton’s failed 777 takeover provides warning as club considers ownership future

**Everton’s failed takeover by 777 Partners has returned to focus after co-founder Josh Wander pleaded guilty to fraud charges in the USs, with Paddy Boyland detailing how the episode provides a cautionary tale as the club considers its ownership future.**

Wander pleaded guilty to wire fraud and securities fraud in a Manhattan federal court on October 15 in connection with a scheme to defraud 777 Partners’ lenders and investors. US prosecutors said the scheme involved more than $500m, with Wander agreeing to forfeit at least that amount. He is due to be sentenced on March 1, 2027.

For [Everton](https://readeverton.com/), the case has particular resonance. Farhad Moshiri agreed in September 2023 to sell his 94.1 per cent shareholding to 777, beginning a takeover process that lasted until the following summer without ever being completed.

## Boyland details Everton’s 777 experience

[Writing for](https://www.nytimes.com/athletic/) *[The Athletic](https://www.nytimes.com/athletic/)*, Everton correspondent Paddy Boyland has revisited that period following Wander’s guilty plea and presented it as a warning over the risks involved in any football takeover processes.

Boyland reports that 777 would have needed to satisfy several conditions after receiving conditional approval from the Premier League in March 2024. They included repaying a £160m loan to MSP Sports Capital, providing proof of funds for Everton and supplying the final tranche of finance required for the club’s new stadium.

According to Boyland, a common belief among people with knowledge of the process was that the Premier League had set a higher bar than usual because of scepticism surrounding 777’s business model. The takeover eventually collapsed in June 2024 when 777’s purchase agreement with Moshiri expired. Boyland reports that the group had been unable to meet the conditions outlined by the Premier League, and Moshiri, thankfully, chose not to grant another extension.

Everton were subsequently bought by The Friedkin Group in December 2024.

## 777 funding helped Everton through financial crisis

Yet, this story is not quite as straightforward as Everton simply avoiding an unsuccessful takeover. Paddy also details the importance of the funding 777 provided while attempting to buy the club. Under its agreement with Moshiri, the company provided monthly funding to Everton, with its loans eventually amounting to around £200m.

The report says the accepted view at the time was that Everton would have struggled to meet their running costs without that money. It means 777 occupy an unusual place in the club’s recent history. The takeover never happened, but the funding supplied during the process came at a point when Everton were in serious financial difficulty.

Boyland also reports that some Everton staff had reservations about the proposed takeover and that some believed 777 never had the means to complete it. The prolonged approval process nevertheless left the club facing months of uncertainty.

## Everton ownership back under consideration

The episode has renewed relevance following TFG’s announcement on October 9 that it is exploring new investment options for Everton, including the potential sale of a controlling interest. The current owners have appointed Moelis & Company to advise on the process and said they will only entertain interest from parties they strongly believe would be suitable stewards for the club.

Everton’s circumstances are markedly different from those surrounding the 777 agreement. TFG says the financial uncertainty it inherited has been addressed, while the club’s new stadium has been completed.

There is no suggestion that the current process is comparable to the proposed 777 takeover, but Boyland’s fascinating account illustrates the complexity of Everton’s previous ownership saga and the importance of scrutiny when prospective investors seek control of football clubs.

Three years after Moshiri agreed to sell Everton to 777, Wander’s guilty plea has brought a remarkable chapter in the club’s recent history back into view just as questions about its longer-term ownership have resurfaced.

***For all the latest Everton ownership, transfer and team news, visit our** [**Everton news page**](https://readeverton.com/news/)**.***