Everton 777 takeover in tatters as Premier League membership prone to administration

On Jun 1, 2024

The Everton takeover saga has taken another twist as the club confirms that an American private investment company wont complete a deal.

The Premier League stalwarts have confirmed that 777 Partners’ attempts to complete a takeover are over, with majority shareholder Farhad Moshiri assessing all options on future ownership.

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

“The agreement between 777 Partners and Blue Heaven Holdings Limited (the company that Moshiri owns Everton through) 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.”

Everton announced on September 15 that 777 Partners had signed an agreement with majority shareholder Moshiri to acquire his entire 94.1% stake in the club and that closing of the transaction was expected to occur in the fourth quarter of 2023.

However, after eight-and-a-half months of trying, the Miami-based private investment firm, who have been dogged by payment issues at clubs they do own (Standard Liege in Belgium and Vasco da Gama in Brazil) and hit by legal challenges, were unable to meet the requirements to be given the green light on the purchase by the five members of the Premier League board, the ECHO reported.

The Mirror reports that Everton will now listen to offers for their top stars after their takeover agreement expired.

The Toffees comfortably secured their Premier League status but have top clubs circling around some of their biggest names, including Jarrad Branthwaite and Jordan Pickford. Dominic Calvert-Lewin and Amadou Onana could also be targets for other clubs.

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