With the news confirmed that 777 Partners' proposed takeover of Everton has collapsed, a new candidate has reportedly emerged to offer the Toffees a much-needed lifeline.
Everton takeover news
Farhad Moshiri initially accepted an offer from 777 all the way back in September, but the Miami-based firm failed to receive Premier League approval in what was a battle that lasted all season long. Then running into problems across their portfolio of clubs, with Standard Liege even struggling to contact the company and their Brazilian club Vasca de Gama reportedly taken off their hands, it began to become clear just why the Premier League failed to give 777 the green light.
Now, confirming the collapse of the takeover, Everton released a statement, which reads: "The agreement between 777 Partners and Blue Heaven Holdings Limited for the sale and purchase of the majority shareholding in the Club expired today.
"The Club’s Board of Directors recognises the considerable level of financial support 777 Partners has provided the Club over recent months and would like to take this opportunity to thank them for this.
"The Club will continue to operate as usual, while it works with Blue Heaven Holdings to assess all options for the Club’s future ownership. The Board of Directors would like to thank everyone connected to Everton for their patience over recent months and reiterate its commitment to providing further updates when it is appropriate to do so through the Club’s official communication channels."
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The Toffees are wasting no time…
ByTom Cunningham
In need of a lifeline, reports have already indicated just who could take 777's place to purchase the club. According to TeamTalk, Crystal Palace minority shareholder John Textor is set to launch a formal bid to buy Everton in a deal that "could be done" for far below the £550m price tag 777 were aiming for.
The billionaire, worth a reported £3bn, could be about to hand the Toffees some much-needed positive news, with a formal offer expected within a matter of days and the report telling Everton fans to get excited.
Everton need to see an end to takeover saga
Whether it's been point deductions or the 777 saga, Everton were handed an instant mountain to climb throughout the season, but Sean Dyche and his side still somehow found a way to avoid Premier League relegation, which may result in the ultimate reward.
Without 777, the instant concern is just who will be left funding the club, who are on course to move into a new, modern stadium at a stage of chaos off the pitch. But Textor can ease those concerns.
The American currently owns a 45% stake in Crystal Palace through his company, Eagle Football Holdings, but is now looking to sell his stake in pursuit of a bigger say elsewhere. Having also purchased minority stakes in Lyon, Botafogo and RWD Molenbeek, Everton wouldn't exactly be Textor's first rodeo in the world of football ownership.
That's not to say it's going to be a simple job, however – quite the opposite. Textor, if he completes a takeover, will instantly be tasked with building an Everton side capable of finally moving towards mid-table comforts whilst avoiding any further FFP sanctions.