Sport nationEverton Football Club has been plunged into further uncertainty after the collapse of the proposed takeover by US-based consortium 777 Partners. The deal, which was agreed upon in September 2023, failed to materialize after the deadline for completion passed without resolution.
As a result, Everton’s majority owner, Farhad Moshiri, is now on the hunt for a new buyer. Moshiri, who has faced intense criticism from supporters in recent years, is looking to sell his 94% stake in the club. US football investor John Textor, who owns stakes in five clubs, including a minority stake in Crystal Palace, has expressed interest in buying Everton. However, he fears that he may not be able to sell his Palace stake in time to complete a deal for Everton.
The collapse of the 777 Partners deal is a significant blow to Everton, who were hoping to stabilize their financial situation after posting losses of nearly £400m between 2019 and 2023. The club was docked eight points for two separate breaches of the Premier League’s Profit and Sustainability Rules (PSR) and is now facing an uncertain future.
The failed takeover is also a setback for 777 Partners, who had hoped to expand their football portfolio. The Miami-based investment firm has been involved in several high-profile deals in recent years, including the purchase of a minority stake in La Liga club Sevilla.
Everton’s situation is further complicated by the fact that the club is still reeling from the aftermath of their points deduction. The Toffees narrowly avoided relegation last season and are now facing a tough battle to stay in the Premier League. The uncertainty surrounding the club’s ownership is unlikely to help their cause, and fans are growing increasingly frustrated with the situation.
Moshiri’s decision to sell his stake in the club is seen as a positive move by many supporters, who have grown tired of his leadership. However, the failure of the 777 Partners deal has raised concerns about the club’s ability to attract new investment. With the transfer window set to open soon, Everton’s uncertainty could impact their ability to sign new players and strengthen their squad.
In a statement, Everton said that they would “assess all options for future ownership” and “continue to operate as usual” while they explore their options. The club’s hierarchy is understood to be in talks with several potential buyers, including Textor, who is keen to acquire a majority stake in a Premier League club.
The situation at Everton is a reminder of the challenges facing many football clubs in the modern era. With the financial demands of the sport increasing all the time, clubs are struggling to stay afloat. The collapse of the 777 Partners deal is a setback for Everton, but it also highlights the need for sustainable ownership models that prioritize the long-term health of the club over short-term gains.
As the football world watches the situation at Everton unfold, one thing is clear: the future of the club hangs in the balance. With the transfer window set to open soon, the Toffees need to find a new owner quickly if they are to have any hope of competing in the Premier League next season. The clock is ticking, and the fate of one of England’s most historic clubs hangs in the balance.
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