Everton is evaluating “all options for the club’s future ownership” following the collapse of 777 Partners’ purchase bid.
Owner of Toffees Farhad Moshiri was unable to engage in other talks because he was bound by an exclusivity agreement with the problematic US investment group until May 31.
However, the purchase agreement between Blue Heaven Holdings Limited and 777 Partners for the sale and acquisition of the club’s majority interest has now expired.
“Everton Football Club would like to provide the following update to all stakeholders, and particularly its supporters,” the team said in a statement.
“Today marked the expiration of the agreement between 777 Partners and Blue Heaven Holdings Limited for the sale and purchase of the club’s majority interest.
“777 Partners has given the club a significant amount of financial support in recent months, and the club’s board of directors would like to take this opportunity to thank them for this.”
“The club will carry on as usual as it evaluates all of its alternatives for future ownership while collaborating with Blue Heaven Holdings.
“The board of directors would like to express its gratitude to all Everton supporters for their understanding over the past few months and to remind everyone that they will continue to receive updates via the club’s official channels when necessary.”
American investor John Textor is rumored to have sold his 40% ownership in Crystal Palace with the intention of purchasing the Toffees. Moshiri revealed this information to Everton’s Fan Advisory Board last week.
When asked if he had discussed purchasing Everton, Textor said, “Yes,” to The Athletic. with the current participants, which include various groups, lenders, and equity holders.
“I’ve asked them: Is there a way to handle everyone’s problems and sort through all of this confusion?
Although I’m quite receptive to it, I don’t want to enter an environment where I’m not truly welcome.
777 still has a contract, but I’m still watching it. Some close friends and supporters of the club are also investors and show a great deal of concern for it.
The person in charge is still making all of the decisions. We may be in a unique position to help people with a lot of issues, but for the time being we’re simply observers because there are other people who already hold parts of that club and are eager to solve the puzzle.
“I’m taking a look at that, but some things need to be cleaned up and it’s pretty confusing.”
In 2021, internet billionaire Textor paid £90 million for Palace. Through his multi-club network Eagle Football, he also owns French team Lyon, Brazilian team Botafogo, and Belgian team RWD Molenbeek.
But the American claimed that because of his circumstances at Palace—he cannot obtain a majority shareholding—it was no longer in line with their long-term objectives. As a result, he gave Raine Group instructions to locate a bidder for his investment.
“Crystal Palace is an independent club,” he stated in a statement provided to the Financial Times. Simply put, an integrated sporting model like the one we use at Eagle is not the best fit.
