Everton takeover falls through as 777 Partners deal expires, but there is hope for troubled club

Everton has confirmed the failure of the takeover bid led by 777 Partners.

The purchase Agreement between the American investment group and the Premier League club has expired, leaving the Toffees looking for other buyers.

Everton owner Farhad Moshiri was tied to a period of exclusivity with the troubled 777 until May 31, preventing them from entering into talks with other interested parties.

But that deal ended on May 31, when the Merseyside club confirmed in a statement that they are now assessing “all options for the future ownership of the club.”

In the statement, Everton thanked 777 for their “considerable financial support” since they began talks to buy the club in September, having provided the Toffees with several loans totaling around £200m to help manage operating costs.

But there has been growing concern about 777 and its operations and doubts about his ability to provide long-term financing to Everton.

Moshiri gave the Miami-based firm a two-week extension to close a deal, but time has now run out.

“Everton Football Club would like to provide the following update to all interested parties, and in particular its supporters,” read a statement from Everton.

“The agreement between 777 Partners and Blue Heaven Holdings Limited for the purchase and sale of the majority stake in the club expired today.

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

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“The club will continue to operate as usual, whilst working with Blue Heaven Holdings to assess all options for the future ownership of the club.

“The board would like to thank everyone associated with Everton for their patience over the past few months and reiterate their commitment to providing further updates where appropriate through the club's official communication channels.”

However, there is hope for the historic club and its supporters, with Moshiri confirming to the Everton Fans' Advisory Council last week that he had received unsolicited proposals from interested parties.

American businessman John Textor is one of them and the tech entrepreneur will reportedly sell his 40 percent 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 components: different groups, different lenders, different shareholders.

“I asked them, 'Is there a way to resolve all this confusion and address everyone's problems?'

“I'm very open-minded, but I don't want to get into a situation where I'm not really welcome.

“I'm looking at it but 777 still has a contract. There are people close to the club who care a lot about him and who are also investing.

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“There's the guy who runs it and who still makes the decisions. We may be in a unique position to solve a lot of people's problems, but we're just looking at it right now because there are other people who already own parts of that club and who also They want to find out.

“I'm looking at that, but it's pretty confusing and some things need to be clarified.”

Textor bought Palace for £90m in 2021 and its Eagle Football multi-club network also includes French side Lyon, Botafogo in Brazil and RWD Molenbeek in Belgium.

However, the American said his situation at Palace, where he cannot secure a majority stake, meant it was no longer compatible with his long-term goals.

For this reason, he has given instructions to the Raine group, which worked with manchester united bring minority owner Sir Jim Ratcliffe – find a buyer for your share.

Textor told the Financial Times: “Crystal Palace is an independent club. An integrated sporting model, like ours at Eagle, simply does not fit perfectly.”