Everton suffer further takeover setback and face uncertain future as Dan Friedkin deal collapses

Everton’s hopes of being rescued by a takeover by Roma owner Dan Friedkin are at an end after the club confirmed the American billionaire has ended his interest in buying the club.

The club have been in a precarious financial position for some time with the club racking up very considerable and rising debts under Farhad Moshiri, which were covered in part by loans from previous interested party 777 Partners.

That takeover bid faltered after 777 ran into troubles of their own, with a deal agreed last September falling apart in May after the investment group missed Everton’s deadline to stump up the cash needed to get the deal done.

That left Everton in need of an alternative, and they have spent the past couple of months talking to Friedkin about the possibility of him buying the Premier League club. His company, The Friedkin Group, reportedly repaid a £150m loan the club had taken out on the construction of their new stadium as a statement of his intent to proceed with a purchase.

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However, a statement on the club website published on Friday morning confirmed: “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.”

Everton were last season hit with a pair of points deduction for two breaches of Premier League profit and sustainability rules, but nonetheless survived the drop to the Championship.

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