Friedkin Group's proposed Everton takeover is off

The potential takeover of Everton by the Friedkin Group will not go ahead, the club have announced.

The group, led by the American billionaire Dan Friedkin who also owns a controlling stake in Italian side Roma, entered a period of exclusivity to negotiate a possible purchase on 21 June.

However, the club said on Friday that no deal had been struck between Friedkin and Everton majority owner Farhad Moshiri's company Blue Heaven Holdings.

"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," a statement from the Merseyside club read.

"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 would remain a lender to the club, who were twice docked points last season over breaches of Premier League financial rules.

"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 Everton statement added.