Does 777’s performance match Josh Wander’s claims?

In recent days, both Farhad Moshiri and Josh Wander have promoted the relative merits of the proposed 777 partners takeover of Everton. I have written and podcasted extensively on the concerns I have regarding the resources and expertise that 777 could possibly bring to Everton and whether the flat multi-club model is appropriate for Everton’s needs.

As part of his justification for 777 partners being the appropiate new owners of Everton, Josh Wander, co-founder of 777 partners speaking to Alan Myers of Sky Sports in a report published on 16th October 2023 said the following:

 “We’re humble enough to acknowledge that we don’t always get everything right the first time and we have learned a lot over the past few years. At the same time, I would challenge anyone to say we have not improved the sporting and financial performance of every club we’ve invested in, and done so in a fairly short period of time.”

The current 777 partners portfolio, their shareholding and acquisition date :

Club Country Acquired Shareholding (%)
Seville Spain – La Liga




Italy – Serie A



Standard Liege

Belgium – Pro League



Vasco de Gama Brazil – Serie A



Hertha Berlin Germany – Bundesliga 2



Melbourne Victory Australia – A League



Red Star Paris

France – National League




Using information published by 777 partners and Tifosy Capital and Advisory  in a potential fund raising pitch to institutional investors published in September 2023, it’s interesting to see if their figures stand up to the claim. 

Financial Performance Actual (A) and Estimated (E) plus League position for each of their holdings. Figures in € millions

2019A 2020A 2021A 2022A 2023E
Hertha Berlin EBITDA -20.9 -36 54.1 -65.3 -58
EBITDA &player trading -2.8 -34.8 -44.9 -44.0 -47.9
League position 11 10 14 16 18
Genoa EBITDA -23.1 -4 -56.5 -64.9 -24.6
EBITDA &player trading 40.7 47.7 -67.6 -50.6 -2.6
League position 17 17 11 19 2*
Vasco de Gama EBITDA -7.8 -3.8 -4.6 -8.9 -12.2
EBITDA &player trading -3.2 8.2 5.7 -0.9 -7.8
League position 12 17 10 4
Standard Liege EBITDA -6.8 -16.4 -14.8 -16.9 -17.3
EBITDA &player trading 3.8 21.6 -4.5 -4.7 -7.1
League position 3 5 6 14 6
Red Star FC EBITDA -1.1 -2.2 -1 -3.4 -7.4
EBITDA &player trading -0.9 -1.1 -0.9 -3.4 -7.4
League position 20 5* 7* 11* 3*
Melbourne Victory FC EBITDA -1.2 -2 -1.5 -4 -4.1
EBITDA &player trading -0.8 -1.6 -1.5 -4 -4.1
League position 3 10 11 2 12
Sevilla EBITDA -2.6 -1.4 9.8 -7.4
EBITDA & player trading 48.6 66.5 28.3 38
League position 6 3 4 4 11


Source: 777 Partners & Tifosy Capital & Advisory

The evidence above contradicts Josh Wander’s claim.

At best, the performance is patchy. There is definitely no evidence to support the notion that every club has improved its financial and footballing performance. That, and the concerns regarding business practices across the wider group, financing, sufficient management resources and the flat multi-club operating model do nothing to suggest 777 are the appropriate partners.

In an attempt to justify his choice of 777 as best option available to Everton, Moshiri claims:

The more time that I have spent with the 777 team, the more my confidence increases that we have found the right people to take the club forward in the modern era.

As I have discussed before, this has all the hallmarks of another colossal Moshiri misjudgement. The finances, timing and position our club finds itself in make it difficult to see viable options immidiately, but with so many institutional and high net worth investors seeking exposure to football generally and the Premier League specifically, the question as to why 777 partners are Moshiri’s choice remains unanswered as do the solutions to the critical condition we find ourselves in.

Ultimately, the progress of this deal will depend upon regulatory approval and 777’s ability to fund the acquisition and future capex requirements – both of which are still very much subject to doubt.

In the meantime, the claims supporting the proposed transaction, made by both leading parties, do not stand up to any form of scrutiny.




Categories: Uncategorized

4 replies »

  1. Thanks for the additional facts and figures, Paul. Scrutiny of 777 is vital. I wonder what the Premier League and FCA will make of this?

    So far there seem to be more red flags around 777 than at Anfield on a European night.

    With all these loss-makers in the 777 Group, one would hope there are significant profits from elsewhere to keep the whole thing afloat. Are there any signs of other strong income streams or other sources of revenue?

  2. Thanks for the work put into producing this detailed analysis. Is it asking too much to add Everton’s performance stats tagged on the bottom of the schedule.

  3. Thank you for your work, it’s important we are not blind to this as its implications can have devastating consequences for our beloved football club and I genuinely fear for our club.

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