The Friedkin Group has decided to walk away from purchasing a majority stake in Everton Football Club, ending a period of exclusivity granted to them just last month. This decision comes after talks between Blue Heaven Holdings and The Friedkin Group over the potential sale of the club fell through. The Friedkin Group, who already own the Italian Serie A club Roma, were in discussions to acquire a stake in Everton following the collapse of a previous takeover deal with prospective owner 777 Partners.
Everton confirmed that both parties entered the discussions in good faith, with hopes of reaching an agreement on the sale of a majority stake in the club. However, after the period of exclusivity, it was mutually decided that The Friedkin Group would not be moving forward with the purchase. The club expressed gratitude towards The Friedkin Group for their contributions to the new stadium construction and stated that they will continue to maintain a positive relationship with the group.
Last year, 777 Partners had signed an agreement with majority owner Farhad Moshiri to acquire his 94.1% stake in Everton for a reported sum of over £550 million. Moshiri, who initially purchased a 49.9% stake in the club in 2016, had increased his ownership over the years. The takeover by 777 Partners, which was expected to be completed by the end of 2023, faced delays due to issues meeting the Premier League’s requirements, ultimately leading to the expiration of the agreement.
The news of the failed takeover comes at a critical time for Everton, who narrowly avoided relegation last season after being docked points for breaching the Premier League’s financial rules. Despite a challenging season, the club managed to secure their position in the top-flight by winning five of their last eight games. The uncertainty surrounding the ownership situation adds to the challenges faced by the club as they look to stabilize and progress in the upcoming season.
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