Monday, June 17, 2024

Everton to ´assess all options´ as 777 Partners takeover falls through

SoccerNews in General Soccer News 1 Jun 2024


Everton will “assess all options” regarding the club’s ownership after a proposed takeover by 777 Partners fell through on Saturday.

Majority shareholder Farhad Moshiri agreed to sell his 94 per cent stake in the club to the US-based consortium last September, but the Premier League refused to sign off on the takeover.

The deal was repeatedly delayed as 777 failed to meet the Premier League’s required conditions of ownership, though the consortium provided financial support to the club for several months.

Everton lost eight points to two deductions in 2023-24 for breaching the Premier League’s profit and sustainability rules, but still finished 14 points clear of the relegation zone.

Moshiri is now looking for alternative buyers to come forward, with Crystal Palace co-owner John Textor having expressed an interest in investing last month.

The club said in a statement: “The agreement between 777 Partners and Blue Heaven Holdings Limited for the sale and purchase of the majority shareholding in the club expired today.

“The board of directors recognises the considerable level of financial support 777 Partners has provided the club over recent months and would like to take this opportunity to thank them for this.

“The club will continue to operate as usual while it works with Blue Heaven Holdings to assess all options for the club’s future ownership.

“The board of directors would like to thank everyone connected to Everton for their patience over recent months and reiterate its commitment to providing further updates when it is appropriate to do so through the club’s official communication channels.”


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