Friedkin Group pulls out of talks to buy majority stake in Everton

:The Friedkin Group has abandoned its plans to buy a majority stake in Everton after being granted a period of exclusivity last month, the Premier League club said on Friday.

The Friedkin Group, who are also majority owners of Italian Serie A club AS Roma, were in exclusive talks to buy a stake after a takeover agreement with prospective owner 777 Partners fell through.

"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," Everton said.

"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."

Everton said the Friedkin Group will remain a lender to the Merseyside club having played a role in the new stadium being built.

"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 club added.

Last year, Miami-based investment fund 777 Partners said it had signed an agreement with British-Iranian billionaire Farhad Moshiri to acquire his 94.1 per cent stake in the club in a deal reported to worth more than 550 million pounds ($710 million).

Moshiri, a former Arsenal shareholder, first bought a 49.9 per cent stake in Everton in 2016. By January 2022, he had increased his stake to 94.1 per cent with a 100-million-pound capital injection.

The takeover was initially expected to be closed by the end of 2023.

However, it was delayed as 777 Partners