The future ownership of Everton is being evaluated following the collapse of the proposed takeover by 777 Partners. The club’s owner, Farhad Moshiri, was committed to an exclusive period with the troubled American investment group, which prevented any alternate negotiations until May 31. However, the purchase agreement between Blue Heaven Holdings Limited and 777 Partners for the majority of shares in the club has now lapsed.
A statement from Everton detailed how the club is presently working with Blue Heaven Holdings to consider all potential ownership possibilities. The club directors acknowledged the significant financial backing from 777 Partners in recent months and expressed gratitude. Assurances were given that Everton will continue operating as usual.
Last week, Moshiri divulged to Everton’s fan advisory board that he had been approached by potential buyers. Among them, American entrepreneur John Textor, who is said to be relinquishing his 40% stake in Crystal Palace, possibly to acquire Everton. Textor confirmed he had been in discussions about a potential purchase, speaking with various groups, lenders, and equity holders.
Asserting his willingness to help resolve the present confusion, Textor maintained he wouldn’t want to step into a situation where he wasn’t welcomed. It is unclear at this time what the purchase of the Everton football club might entail, particularly considering the involvement of current shareholders who equally wish to understand the club’s future. For now, Textor remains observant, recognising the complexities of the scenario.
In 2021, Textor, a technology entrepreneur, committed £90 million to acquire a stake in Palace through his multi-club network, Eagle Football, which also encompasses Lyon in France, Brazil’s Botafogo, and RWD Molenbeek in Belgium. However, being unable to procure a leading shareholding at Palace, Textor, the American, acknowledged that this was not in line with his ambitious long-term plans. As a result, he engaged the Raine Group to discover a potential buyer for his share.
He disclosed to the Financial Times, “Crystal Palace operates as an autonomous body. The joined sports structure that we have at Eagle does not quite correspond.”