American investment firm acquires majority stake in English soccer club Everton FC

Everton's majority shareholder Farhad Moshiri agreed to sell his stake to 777 Partners, a U.S. private equity firm.
The deal is expected to be completed by the end of 2023, pending regulatory approval.
Partners owns stakes in several other soccer clubs around the world.
The deal aims to provide financing to complete Everton's new stadium.
Despite significant investments, Everton has struggled on the field in recent years.