Follow usEverton announced they will “assess all options for future ownership” after the deadline for the sale of the club to 777 Partners passed without resolution.
The US-based consortium had agreed to buy majority owner Farhad Moshiri’s 94% stake in September 2023.
Club Statement: Update on agreement with 777 Partners. 🔵
— Everton (@Everton) June 1, 2024
777 Partners was given until 05:00 BST on Saturday to complete the share purchase agreement, but the deadline expired without the deal being finalized. As a result, Everton stated they will “continue to operate as usual” while exploring their ownership options.
Moshiri, who took a controlling stake in the club in 2016, has faced significant backlash from supporters due to poor performances both on and off the pitch. Everton posted losses of just under £400m over four years from 2019 to 2023, leading to the club being docked a total of eight points for two separate breaches of the Premier League’s Profit and Sustainability Rules (PSR).
Although an agreement with 777 Partners was struck last September, the Miami-based investment firm hoped to complete the takeover by the end of 2023. However, persistent delays occurred as 777 failed to meet the Premier League’s required conditions of ownership.
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