SAD NEWS: few minute ago the owner of everton decided to sell team as a result of…

Although it may have surprised some, Farhad Moshiri, a businessman headquartered in Monaco, has decided that selling his entire Everton shareholding—which he has owned since 2018—is in the best interests of the team and its future.

That wasn’t, however, his first plan; initially, he had looked to invest in the Premier League team.

With the arrangement with Miami-based investment broker 777 Partners, Moshiri will sever his connections with the team following seven turbulent years that first gave the club’s long-suffering supporters optimism for a new era, akin to what was seen at Manchester City and more recently at Newcastle United.

What transpired was anything but that, even if Moshiri invested several hundred million pounds.

Everton’s financial situation has spiraled out of control due to a confluence of bad management, rash choices, and scattergun recruiting. This has led to two near-miss relegation scenarios on the field.

Without a doubt, the conflict in Ukraine and the ensuing suspension of revenue from sponsorship agreements with Moshiri’s longtime friend and business partner, Alisher Usmanov, played a significant role in the situation becoming increasingly dire.