Everton are set to “assess all options” after 777 Partners missed the deadline to complete their proposed takeover of the club.
The US-based consortium have been trying to buy a majority stake in the club for the best part of eight months and replace Farhad Moshiri, who has 94% ownership of Goodison Park.
777 Partners were given until Saturday morning to complete the transaction, but the deadline has been and gone with no resolution.
They were expected to complete a deal in 2023 but delays incurred due to their failure to meet the required standards of the Premier League.
And after being granted multiple extensions it seems the operation is now at an impasse.
The Toffees released a statement on the situation that is keeping fans on edge in Liverpool.
Club Statement: Update on agreement with 777 Partners. 🔵
— Everton (@Everton) June 1, 2024
It said: “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.”
Everton will likely assess interest from other parties while they wait for 777 Partners’ next move.
After posting losses of around £400million between 2019-2023 and being on the receiving end of a points deduction last season, it is clear a solution is needed quickly.
