Potential takeover of Everton by Friedkin Group will not go ahead; group, led by American billionaire Dan Friedkin who owns Roma, had entered a period of exclusivity last month; a statement said: "The parties agree it is in both their interests for Everton to explore alternative options"
Friday 19 July 2024 16:33, UK
The potential takeover of Everton by the Friedkin Group will not go ahead, the club have announced.
Everton owner Farhad Moshiri last month entered exclusive negotiations with the Friedkin Group over a possible purchase of the Merseyside club, but those talks have now collapsed.
It is understood the takeover collapse will have no bearing on Everton's transfer activity this window and the club is well funded in the short term as the search for a long-term solution recommences.
The Friedkin Group, which also owns Italian side Roma, had been granted exclusivity to buy a 94.1 per cent stake in the club held by Moshiri's Blue Heaven Holdings.
But the Friedkin Group, spearheaded by Texan billionaire Dan Friedkin, has failed to reach an agreement in yet another blow for Everton.
A club statement 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.
"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.
"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.
"When there is further news to share, it will be provided via the club's official communication channels."
Toffees fans have endured months of uncertainty after Moshiri first agreed to sell his stake in the club to American investment firm 777 Partners in September.
That deal eventually collapsed when an exclusivity period with 777 expired on May 31 with no formal agreement reached.
Everton finished 15th in the Premier League last season despite being docked eight points for breaches of profit and sustainability rules.
The club are due to move to their new ground at Bramley-Moore Dock for the 2025-26 season with work scheduled to finish on the stadium in December.
The 2024 summer transfer window officially closes on August 30 at 11pm UK time in the Premier League and 11.30pm in Scotland.
The Premier League has brought forward Deadline Day to link up with the other major leagues in Europe. The closing dates were set following discussions with the leagues in England, Germany, Italy, Spain and France.
