Everton dodge bullet as £36.5m off-pitch investment collapses, deal now officially dead

Everton have dodged a potential financial disaster by parting ways with what was once a key ally in the commercial department.

The Toffees are in a financially precarious situation at present, with owner Farhad Moshiri having failed to sell the club to 777 Partners amid doubts about their ability to finance the club going forward.

The British-Iranian billionaire is now considering alternative options, among them Crystal Palace co-owner John Textor and the investment group MSP Sports Capital.

MSP already have an option to take a controlling stake in the club as a condition of a previous financing arrangement with Moshiri.

That £160m agreement came at a time when Everton were desperate for funds for their new stadium at Bramley Moore Dock.

Their financial situation was damaged prior to that when the benefactor Alisher Usmanov was forced to cancel all of his sponsorship deals with the club because of his links to the Russian state.

It was shortly after this that Everton exercised their option to cancel their deal with online car retailer Cazoo, who had been their front-of-shirt sponsor since 2020.