Everton have announced that talks with The Friedkin Group over a potential sale of a majority stake in the club have ended.
The club made the announcement via a statement shared on the club’s website which read:
“Following a period of exclusivity, discussions between Blue Heaven Holdings and The Friedkin Group over a potential sale of a majority stake in Everton have ended and The Friedkin Group will not be progressing with a purchase of the Club.”
Blue Heaven Holdings are the company that owns Everton and the statement put out by the Premier League club on their official website also revealed that both parties “entered discussions in good faith to explore whether a sale could be agreed.”
Both Parties Decide To Explore Alternative Options
In the statement, it was made known that two involved parties have decided that Everton should explore alternative options.
Moreover, Blue Heaven Holdings maintains a good relationship with the Friedkin Group and are thankful for the assistance that the latter has offered the former.
The Toffees also stated that “The Friedkin Group” will still contribute to the Merseyside-based club and they are proud to have played an important role in helping for the construction of a new stadium.
Additionally, this will help ensure a positive future for both Everton and the City of Liverpool where the club is located.
Sale of Everton: Why Friedkin Group Called Off Takeover Of English Premier League Club Everton?
Reports indicate that discussions between Friedkin Group and Blue Heaven Holdings broke down primarily due to a £200 million debt which Everton are owing 777 Partners/A Cap.
777 Partners were also previously in line to buy Everton, however, talks with the Premier League club broke down on June 1, 2024.
Talks broke down due to 777 missing a 5:00 AM deadline to provide funds to proceed with a sale and purchase agreement (SPA) for Farhad Moshiri’s 94.1 % stake, with the British-Iranian businessman deciding not to grant a deadline extension.
Several Everton fans are disgruntled over the latest news, as they were expecting positive feedback from negotiations between The Friedkin Group and Blue Heaven Holdings.
It is uncertain which group will also throw their hat in the ring to acquire Moshiri’s stake at the club, given the things they will also have to sort out.
When Did Majority Owner, Farhad Moshiri, Acquire A Stake In Everton?
Farhad Moshiri, a former Arsenal shareholder, first acquired a 49.9% stake in Everton in 2016.
However, on January 2022, Moshiri had increased his stake to 94.1 % with a £100 million capital injection.
It will be fascinating to see what unravels in the sale process of Everton and where it is headed.
Everton
The Toffees are tutored by Sean Dyche and they ended the 2023/24 season in 15th position, amassing 40 points, winning 13 matches, losing 16 and drawing 9.
Everton have made two major signings thus far this summer, acquiring Iliman Ndiaye from Olympique Marseille for a fee of €18 million and Tim Iroegbunam from Aston Villa for a fee of €10.7 million.
The Merseyside-based club commence the 2024/25 campaign facing Brighton and Hove Albion at Goodison Park on August 17, 2024.
