The Texas-based company had been in talks for several weeks regarding the potential acquisition of the Merseyside club in a move that had excited Everton fans.
The Toffees have been mired in financial problems for years and an earlier takeover attempt from controversial American group 777 Partners collapsed. 777, which also owns clubs in Brazil, Belgium, Germany, France and Italy and stands accused of fraud and other alleged dubious practices, is facing insolvency.
The emergence of Roma owner Friedkin was hailed as a blessing for Everton, but the group has now pulled out of the takeover talks following a review of Everton’s debts, according to The Athletic’s David Ornstein. Everton owe some £600 million, including £200m to 777, and have posted losses of £400m in recent years, leading to Friedkin deeming the operation too expensive and risky.
Branthwaite deal back on?
It is not yet clear how exactly this news will affect Everton’s summer business, but with the club now scrambling to find a new prospective buyer, they will seemingly be entirely reliant on sales this window as a means to raise funds.
Previously, it had been thought that the impending transfer of Amadou Onana to Aston Villa would put Everton in a secure and comfortable position, but this was based on the assumption that the Friedkin takeover would get over the line.