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Takeover officially OFF! Everton confirm deadline to sell club to 777 Partners has passed amid uncertainty over points deductions

Everton
Premier League

Everton have announced the deadline for the sale of the club to US-based consortium 777 Partners has now passed.

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Article continues below

Article continues below

Article continues below

  • Proposed Everton takeover collapses
  • 777 Partners deadline expires
  • Toffees now "assessing options"

  • WHAT HAPPENED?

    An agreement for 777 Partners to buy owner Farhad Moshiri's 94% stake in Everton was reached all the way back in September 2023. The American investment firm had until 5am on Saturday to complete the takeover but the deadline has now passed, meaning the proposed sale of the club has collapsed.

  • Everton applauding fansGetty

    THE BIGGER PICTURE

    The news comes as little surprise as the takeover had been plunged into doubt due to concerns over finances and the suitability of the firm. It also follows on from a difficult season for the Toffees who managed to stay up despite being hit with a 10-point deduction that was reduced to six on appeal. However, the club could be hit with another points deduction over breaches of the Premier League profit and sustainability rules.

  • WHAT EVERTON SAID

    An official 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."

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  • Everton fans 2023-24Getty Images

    WHAT NEXT FOR EVERTON

    Everton will now look at other options which may include speaking to Crystal Palace co-owner John Textor who has expressed an interest in buying the club. However, Textor would first have to sell his 45% stake in Palace.

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