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 Roma, were in exclusive talks to buy a stake after a previous takeover agreement between Everton and 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% stake in the club in a deal reported to worth more than £550 million ($710m).
