Everton have released a statement after the deadline for 777 Partners to buy the club expired today.
"The agreement between 777 Partners and Blue Heaven Holdings Limited for the sale and purchase of the majority shareholding in the Club expired today," a statement read on Everton's website.
"The Club’s Board of Directors recognises the considerable level of financial support 777 Partners has provided the Club over recent months and would like to take this opportunity to thank them for this.
"The Club will continue to operate as usual, while it works with Blue Heaven Holdings to assess all options."