Everton assessing ‘all options’ after proposed 777 takeover falls through

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

The club’s owner Farhad Moshiri was tied into a period of exclusivity with the troubled US investment group until 31 May and could not enter into alternative discussions. But 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. 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 the American businessman John Textor wanting to sell his 45% stake in Crystal Palace and potentially then buy the Toffees.

Asked if he had held talks about buying Everton, Textor told the Athletic: “Yes [he has discussed Everton]. 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.”

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Textor, a tech entrepreneur, bought into Palace for £90m 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.”

Source: theguardian.com

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