Everton's proposed investment deal with 777 Partners is 'not expected' to happen at the moment, according to journalist Paul Brown.
What's the latest news surrounding potential investment in Everton?
Everton find themselves in a tricky situation both on and off the field and fans have been out in force to protest against the Goodison Park hierarchy at many of their home matches this season.
As per Sky Sports, Everton majority owner Farhad Moshiri is said to be seeking investment into the club to help fund the development of the new Everton Stadium currently being built.
The Liverpool Echo report that Miami-based American investment fund 777 Partners and New York-based sports investors MSP Sports Capital are both keen on supplying Everton with financial support.
Forbes detail that Everton have also recently been referred to an independent commission by the Premier League due to breaching the league's profit and sustainability rules during 2021/22, meaning that news of fresh investment will likely be a relief to supporters.
Away from matters at boardroom level, The Toffees also have a fight on their hands to retain their Premier League status and face a real danger of being relegated to the Sky Bet Championship.
Speaking to GIVEMESPORT, journalist Brown has said that rumours of a deal between 777 Partners and Everton were 'massively overstated' by some reports.
Brown said: "There were reports in Italy that 777 were interested or close to a takeover of the club. I think that's massively overstated. I know Everton have spoken to this group several times. I don't believe a full takeover was ever on the table with them.
"They are not significant investors in sport in the way that you would expect from people who want to take over and run a club completely in the Premier League.
"I understand they value the club far below what Moshiri does and that the chances of them investing in Everton are quite slim at the moment.
"It's not expected from within Everton that a deal is going to be done there at the moment."
What now for Everton?
Regardless of matters elsewhere, Everton boss Sean Dyche will be fully concerned with trying to keep Everton in the Premier League.
The Toffees have endured another difficult season in 2022/23 and have so far failed to learn the lessons of their near scrape with relegation last season under Frank Lampard.
Following a damaging 4-1 defeat to Newcastle United at Goodison Park in midweek, Everton have it all to do, starting with a relegation six-pointer away to Leicester City at the King Power Stadium next Monday evening.
Nevertheless, Dyche and his players can only influence the challenges that lie ahead and will be keen to ensure that they do enough to survive come the close of play.