Everton confirm 777 Partners’ takeover has COLLAPSED leaving club on brink of going bust
EVERTON have confirmed that 777 Partners’ proposed takeover of the club has collapsed.It leaves the Toffees in danger of going into administration if owner Farhad Moshiri cannot find another buyer.Everton confirmed 777 Partners will not be buying the clubCredit: AlamyOwner Farhad Moshiri needs to find a new buyer or the club could go into administrationCredit: GettyManager Sean Dyche will see several of his best players sold as they desperately attempt to raise cashCredit: Getty777 Partners’ proposed takeover was worth £500m and they have already pumped in £200m to keep the club afloat.But Premier League chiefs refused to ratify their takeover agreement over worries the Miami-based company did not have the cash to meet its obligations after US insurance giant A-Cap cut ties with them.And the company were then hit with legal actions in the US and Europe.An Everton statement confirmed the takeover is dead, saying: “The agreement between 777 Partners and Blue Heaven Holdings Limited for the sale and purchase of the majority shareholding in the Club expired today. READ MORE IN FOOTBALL”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.”Everton’s financial problems saw them slapped with a points deduction last campaign – but they still managed to avoid relegation.Most read in FootballBEST FREE BET SIGN UP OFFERS FOR UK BOOKMAKERSEVERTON’S BEST PLAYERS SET TO LEAVEBy Jack Rosser
ESTIMATED fees for Everton’s biggest stars:
Jarrad Branthwaite £75m
Amadou Onana £45m
Vitaliy Mykolenko £35m
Jordan Pickford £20m
Dominic Calvert-Lewin £20m
James Garner £18m
Dwight McNeil £18m
Beto £18m
James Tarkowski £12m
Going into administration will see the club automatically docked nine points next season.The club’s total current debt is at a reported £583m amid the building of their new £760m Bramley Moore Dock stadium.The mess Everton are in explainedAround £200m is also needed to complete the ground.Every Everton player is currently up for sell as the club in crisis desperately tries to raise funds.The end of the club’s financial year is June 30, giving Moshiri only 16 days to sell players to start balancing the books.The likes of Jordan Pickford, Jarrad Branthwaite, Amadou Onana, and Dominic Calvert-Lewin are all attracting interest.England centre-back Branthwaite is wanted by Manchester United and striker Calvert-Lewin is into the final year of his deal at Goodison Park and could be signed in a cut-price deal by Newcastle.Meanwhile, Crystal Palace shareholder and American billionaire John Textor could enter the race to buy Everton.He has expressed his interest in a takeover after declaring he is ready to sell his 45 per cent stake in the Eagles.Building work continues at the Bramley-Moore Dock StadiumCredit: GettyEverton are set to move in for the 2025/26 seasonCredit: EPAJarrad Branthwaite could be signed by Man Utd in a cut-price dealCredit: GettyJordan Pickford could also be offloadedCredit: Getty More