Everton ‘evaluating options’ after 777 Partners acquisition fails | football news

Everton are assessing “all options for future ownership of the club” after a proposed takeover by 777 Partners failed.

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

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

A statement from the club said: “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.

“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.”

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Josh Wander, 777 Partner Executive

Moshiri confirmed to the Everton Fan Advisory Council last week that he had received unsolicited proposals from interested parties, and that American businessman John Textor had sold his 40 per cent stake in Crystal Palace with a view to buying the Toffees.

When asked if he had held talks about buying Everton, Textor said 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.

“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.”

FILE - John Textor, an American digital entrepreneur, attends a press conference to announce Textor's acquisition of the club, in Decines, near Lyon, central France, Tuesday, June 21, 2022. Brazilian club Palmeiras filed a complaint against John Textor in the country's most important sporting arena on Tuesday, April 2, 2024 after the American executive made allegations of match-fixing.  (AP Photo/Laurent Cipriani, File)
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American businessman John Textor

Textor, a tech entrepreneur, bought Palace for £90m in 2021 and his multi-club Eagle Football 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 and he had therefore ordered 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, like ours at Eagle, simply does not fit perfectly.”

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