Everton say proposed new owners miss takeover deadline - What happens now?

Everton have released a statement saying that the agreement with 777 partners to buy the club has expired and they will now 'assess all options' when it comes to new ownership.

The agreement with 777 partners has been in place since September 2023 but has not been finalized and has now expired.

Everton kept their place in the Premier League during the 2023-24 season, finishing in 15th place despite two separate sanctions from the Premier League which resulted in the club being deducted a total of eight points.

Current owner Farhad Moshiri has been trying to sell Everton for some time but now this deal with 777 partners has collapsed, there is plenty of uncertainty once again.

What now for Everton?

There are already several reports stating that other investment groups are interested in buying Everton, which is obviously great news for the Toffees, but there is still one heck of a mess to sort out.

One of the reported interested parties, according to Forbes, is American investor John Textor, who already owns 45% of Crystal Palace and he wants to sell his shares in Palace first before he can entertain buying Everton.

As Everton say in their statement, 777 partners have provided a "considerable level of financial support" for the club — it is believed 777 have given Everton a loan of over $250 million to cover costs — and whoever takes charge of the club will have to take charge of a tricky financial situation and oversee plenty of restructuring. It has also been reported that Everton need to repay a loan of $201 million to MSP Sports Capital.

Everton are set to move into their stunning new 52,000 capacity stadium at Bramley Moore Dock in the summer of 2025, so this will be their final season at Goodison Park, and they should be looking ahead with hope.

But with so much uncertainty still lurking around their ownership situation, even if Everton find new owners in the coming weeks it will still be a matter of months before everything is signed off and they can start to look ahead to that brighter future.

Everton statement in full

"Everton Football Club would like to provide the following update to all stakeholders, and particularly its supporters. The agreement between 777 Partners and Blue Heaven Holdings Limited for the sale and purchase of the majority shareholding in the Club expired today. The Club’s Board of Directors recognises the considerable level of financial support 777 Partners has provided the Club over recent months and would like to take this opportunity to thank them for this.

"The Club will continue to operate as usual, while it works with Blue Heaven Holdings to assess all options for the Club’s future ownership. The Board of Directors would like to thank everyone connected to Everton for their patience over recent months and reiterate its commitment to providing further updates when it is appropriate to do so through the Club’s official communication channels."