Everton, one of English football's most storied teams, will be bought by American private investment firm 777 Partners, the club announced on Friday.
Majority shareholder Farhad Moshiri has agreed to sell his 94.1% stake in the Premier League club, which he said would secure financing to complete a state-of-the-art stadium that is currently under construction.
“Going forward, Everton will play in a stadium that will be the envy of the Premier League and beyond,” Moshiri said.
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