Everton considering new investments after 777 Partners takeover collapse

Everton considering new investments after 777 Partners takeover collapse

Everton are reportedly exploring all potential options for future ownership of the club after the deadline for a takeover by US investment firm 777 Partners expires.

Owner Farhad Moshiri had agreed a deal in September to sell his 94% stake in Everton to 777 Partners. However, the American group, which also has stakes in Genoa, Hertha Berlin and Standard Liège, failed to meet the Premier League’s financial demands for the takeover.

Negotiations between Moshiri and 777 Partners officially expired on May 31.

“The agreement between 777 Partners and Blue Heaven Holdings Limited for the sale and purchase of the majority stake in the club expired today,” Everton said.

“The club’s board recognizes the considerable financial support provided by 777 Partners over recent months and would like to thank them for it. »

Everton added that the club will continue to operate as usual while working with Blue Heaven Holdings to evaluate all future ownership options.

Reports in the British press suggest Everton may have to sell some of their best players this summer to avoid administration due to mounting debts.

British-Iranian businessman Moshiri has invested more than £500 million ($620 million) in new signings since becoming the majority shareholder in 2016, with little success on the pitch.

Additionally, the cost of completing the new 53,000 capacity stadium at Bramley-Moore Dock, scheduled to open in 2025, is around £700 million.

Everton extended their stay in England’s top flight to 70 years this season, despite receiving a total of eight points for breaching Premier League financial rules. The club recorded losses of almost £400 million between 2019 and 2023.

Everton, one of England’s most historic clubs, has won nine top-flight titles, surpassed only by Manchester United, Liverpool, Arsenal and Manchester City.

However, their last Premier League title was in the 1986/1987 season and they have not won a major trophy since 1995.