LIVERPOOL, England (AP) -- Miami-based private investment firm 777 Partners has failed to conclude a deal for the purchase of Everton, the Premier League club said Saturday.
In September, 777 reached a deal to buy out Everton's majority shareholder, Farhad Moshiri, who has a 94.1% stake in the club.
However, the club said in a statement on Saturday that the buyout was now off because it had not been completed before the deadline.
"The agreement between 777 Partners and Blue Heaven Holdings Limited for the sale and purchase of the majority shareholding in the club expired today," Everton said. "The club will continue to operate as usual, while it works with Blue Heaven Holdings to assess all options for the club's future ownership.
"The board of directors would like to thank everyone connected to Everton for their patience over recent months and reiterate its commitment to providing further updates when it is appropriate to do so through the club's official communication channels."
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