Everton takeover talks with Friedkin Group end without deal, Premier League club continue to look for new buyers
Published 19/07/2024 at 16:58 GMT+1
Everton owners Blue Heaven Holdings have failed to reach an agreement with Friedkin Group on the sale of the club, both parties announced in a joint statement on Friday. The group - which owns Serie A club Roma - had agreed a deal in principle to buy the Premier League outfit in June but will not proceed with the sale, just a month after 777 Partners' bid to reach a sale also fell through.
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Everton’s talks with Friedkin Group over a planned sale of a majority stake in the club have ended with no deal agreed between the two parties.
Friedkin Group had agreed a deal in principle to take over the club on June 20 but talks stalled and a joint statement on Friday confirmed that the sale will not progress.
The group was granted exclusivity after Everton’s proposed deal with Miami-based firm 777 Partners broke down in June.
Majority owner Blue Heaven Holdings – run by Farhad Moshiri – currently holds a 94% stake in the club but has been in a series of failed discussions with different parties to take over at Goodison Park.
The joint statement confirmed that the group will continue to be a lender to the Club.
It said: “Both Blue Heaven Holdings and The Friedkin Group entered discussions in good faith to explore whether a sale could be agreed. Those discussions have concluded.
"The parties agree it is in both their interests for Everton to explore alternative options.”
Chairman Dan Friedkin’s group owns Serie A club Roma and has lent £200 million to Everton. That loan has been significant in facilitating the construction of Everton’s new stadium at Bramley-Moore Dock, where the club will be based from the start of the 2025/26 season.
The statement added: “The Friedkin Group will remain a lender to the Club and is proud to have played a key role in enabling the new stadium to be built, which will help ensure a bright future for both Everton and the City of Liverpool.
“Blue Heaven Holdings maintains a positive relationship with The Friedkin Group and would like to thank them for the time and effort they have put into this process.”
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The Friedkin Group is the fourth separate party to be granted exclusivity but with talks ending without successfully reaching a deal.
The deal with 777 Partners fell through following delays as the group struggled to meet Premier League ownership rules and eventually failed to reach a deadline for a share purchase agreement.
Moshiri has faced criticism in recent years as the club has posted serious financial losses and breached the Premier League’s Profit and Sustainability Rules.
The club was docked eight points for breaching the rules – initially 10 but reduced to six on appeal – before another six points were docked in April.
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