Everton Seeks New Ownership After 777 Partners Deal Collapses

Everton is currently seeking new financial support to ensure the club’s stability following the breakdown of a potential acquisition agreement with U.S. private equity firm 777 Partners.

Everton’s majority owner, Farhad Moshiri, had reached a deal with 777 Partners last September to sell his 94.1% stake in the club.

However, despite extensive discussions with both the club and the Premier League to demonstrate its financial capacity to acquire the shares from Moshiri’s Blue Heaven Holdings Limited, 777 has now failed to meet the deadline to conclude the transaction.

Since the bid for 777 has fallen through, Everton will now look to find a new buyer or financial partner promptly.

“Everton Football Club would like to provide the following update to all stakeholders, and particularly its supporters,” the club said in a statement on Saturday. “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 recognizes 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 club stated.

“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.”

Despite facing two separate points deductions from the Premier League for breaching profit and sustainability rules, Everton managed to avoid relegation to the EFL Championship this season.