Everton takeover latest: 'New groups enter bidding' as Farhad Moshiri set to ponder decision
Everton takeover latest: Everton are caught in a whirlwind once again as the proposed takeover from 777 Partners falls through.
Everton are currently ‘assessing’ all of their options following the breakdown of 777 Partners takeover attempt.
It’s another blow for the Toffees after they waited over six months for a conclusion to their proposed takeover. It was September 2023 which saw the Miami-based investment agree to purchase Farhad Moshiri’s 94% stake in the club but months of financial issues have plagued their attempt.
Deemed as unsuitable owners, the talk is now about who can be the saviour of Everton and with all the talk of the current situation, we’ve decided to cover the major talking points and update you on the latest news.
Who could take over?
The past few days has seen John Textor, an American businessman who is the Crystal Palace co-owner linked with saving Everton but the issue is that he would have to sell his stake in the London club in order to move forward. However, the latest report from the Athletic states that ‘Everton are on the verge of announcing that a new group has entered into exclusive negotiations with Moshiri over takeover of the Premier League’ as new life is set to be breathed into the ongoing takeover process.
Details are being closely hidden but existing creditors Andy Bell and George Downing have been trying to pull a deal together with the support of a British financial service group. It’s also said that there is ‘advanced interest’ from a global consortium of wealthy investors.
What happens next?
Moshiri confirmed last week to Everton’s Fan Advisory Board that he had received unsolicited approaches from interested parties and there is no option which the Everton owner is said to favour at the current time but an announcement is believed to be imminent.
Any move would be subject to regulatory approval but it is positive news following the fallout of the failure from 777 Partners to complete their takeover. It fell through last week and now the Everton owner, who still olds a 94.1% stake in the club, is free to speak to other interested parties about selling his majority stake again.