Everton confirm 777 Partners’ takeover has COLLAPSED leaving club on brink of going bust

EVERTON have confirmed that 777 Partners’ proposed takeover of the club has collapsed.

It leaves the Toffees in danger of going into administration if owner Farhad Moshiri cannot find another buyer.

AlamyEverton confirmed 777 Partners will not be buying the club[/caption]

777 Partners’ proposed takeover was worth £500m and they have already pumped millions in to keep the club afloat.

But Premier League chiefs refused to ratify their takeover agreement over worries the Miami-based company did not have the cash to meet its obligations after US insurance giant A-Cap cut ties with them.

And the company were then hit with legal actions in the US and Europe.

An Everton statement confirmed the takeover is dead, which read: “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.”

Everton’s financial problems saw them slapped with a points deduction last season – but they still managed to avoid relegation.

Every player is currently up for sell as the club in crisis desperately tries to raise funds.

Crystal Palace shareholder John Textor could enter the race to buy Everton.

He has expressed his interest in a takeover after declaring he is ready to sell his stake in the Eagles.

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