Soccer

Everton ‘assessing all options’ for ownership after 777 Partners’ takeover falls through

US investment group were tied into period of exclusivity with current owner until May 31 but purchase agreement has now expired

Everton's proposed take over by 777 Partners has fallen through. Photograph: Alex Livesey/Getty Images
Everton's proposed take over by 777 Partners has fallen through. Photograph: Alex Livesey/Getty Images
Sat Jun 01 2024 - 16:07

Everton are assessing “all options for the club’s future ownership” after 777 Partners’ proposed takeover fell through.

Toffees owner Farhad Moshiri was tied into a period of exclusivity with the troubled US investment group until May 31 and could not enter into alternative discussions.

But the 777 Partners’ purchase agreement with Blue Heaven Holdings Limited for the sale and purchase of the majority shareholding in the club has now expired.

A club statement read: “Everton Football Club would like to provide the following update to all stakeholders, and particularly its supporters.

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“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 club’s 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.”

Moshiri confirmed last week to Everton’s fan advisory board that he had received unsolicited approaches from interested parties, with American businessman John Textor reportedly selling his 40 per cent stake in Crystal Palace with a view to buying the Toffees.

Asked if he had held talks about buying Everton, Textor told The Athletic: “Yes. With the existing constituents – different groups, different lenders, different equity holders.

“I’ve asked them, ‘Is there a way to solve all this confusion and address everyone’s problems’?

“I’m very open-minded to it but I don’t want to come into a situation where I’m not really welcome.

“I’m watching it but 777 still has a contract. There are people that are close to the club who care a lot about it who are also investing.

“There’s the guy running it who’s still calling the shots. Maybe we’re uniquely positioned to solve a lot of problems for people but we’re just watching it right now because there are other people who already own pieces of that club who also want to figure it out.

“I’m looking at that but it’s quite confusing and some things have to clean up.”

Textor, a tech entrepreneur, bought into Palace for £90million in 2021 and his multi-club network Eagle Football also includes French side Lyon, Botafogo in Brazil and RWD Molenbeek in Belgium.

However, the American said his situation at Palace, where he is unable to secure a majority shareholding, meant it was no longer compatible with their longer-term goals and had therefore instructed Raine Group to find a buyer for his stake.

In a statement to the Financial Times, he said: “Crystal Palace is an independent club. An integrated sporting model, such as ours at Eagle, is simply not a perfect fit.”