A proposed takeover of Everton football club by 777 Partners has fallen through after the expiration of the purchase agreement. The London-based investment firm Leadenhall had filed a civil suit against 777 Partners, describing it as a ‘house of cards’. The suit alleges fraudulent practices and insolvency issues. 777 Partners has called in restructuring experts. Everton confirmed that the agreement with 777 Partners for the sale and purchase of the majority shareholding in the club has expired. The club now faces several plausible scenarios, including the possibility of finding alternative buyers, administration, or the control being taken by main creditors.
