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HomeSportsEverton takeover talks collapse, club seeks new investor

Everton takeover talks collapse, club seeks new investor

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Everton’s proposed takeover by 777 Partners fell through on Saturday as the American investment firm failed to meet the Premier League’s requirements and complete the purchase of Farhad Moshiri’s majority stake.

An agreement was reached in September 2023 for 777 Partners to acquire Moshiri’s 94.1% ownership.

However, the deal, initially expected to close by the end of last year, was delayed due to 777 Partners reportedly struggling to satisfy the Premier League’s conditions.

In a statement, Everton confirmed the expiration of the agreement and acknowledged the financial support provided by 777 Partners in recent months. The club is now free to explore new ownership options.

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Moshiri, a former Arsenal shareholder, acquired a 49.9% stake in Everton in 2016, later increasing it to 94.1% in 2022 with a significant capital injection.

Despite heavy investment in player transfers, Everton’s performance has declined, with the club battling relegation in recent seasons.

They finished 15th in the last Premier League campaign after facing point deductions for breaching financial regulations.

With the 777 Partners deal off the table, Everton can now pursue discussions with other potential investors. According to BBC reports, Crystal Palace co-owner John Textor, who is looking to sell his stake in the London club, might consider Everton as an opportunity.

Everton’s core operations will continue as usual while the club, along with Moshiri’s holding company, explores future ownership options.

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