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Everton takeover talks called off
Business and Economy

Everton takeover talks called off

by  AFP 2 min read
A potential takeover of Everton has fallen through
A potential takeover of Everton has fallen through. Photo: PETER POWELL / AFP
Source: AFP

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Everton's potential sale to the Friedkin Group will not go ahead after the Premier League club failed to reach an agreement with the American investors.

Led by US billionaire Dan Friedkin, the group entered a period of exclusivity to negotiate a possible purchase on June 21.

However, the Goodison Park outfit said on Friday that no deal had been struck between Friedkin and the club's majority owner Farhad Moshiri.

It is the second time this year that Everton have been unable to push through a sale after a deal with Miami-based firm 777 partners also broke down.

"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," a statement from the Merseyside club read.

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"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."

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Everton said the Friedkin Group would remain a lender to the club, who were twice docked points last season over breaches of Premier League financial rules.

The Friedkin Group also owns a controlling stake in Italian side Roma.

Moshiri, who bought a 49.9 percent share in Everton in 2016, is the Toffees' majority owner with a 94 percent stake.

"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," the Everton statement added.

Source: AFP

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