Everton have apologised to fans who were incensed over the club's decision to launch a new modernised crest.
More than 16,000 fans signed an online petition in protest at the new crest, which removed their Latin 'Nil Satis Nisi Optimum' motto which translates as "nothing but the best is good enough".
A statement on the club's website, titled 'a regrettable Bank Holiday weekend' went on to reveal that major discussions had taken place since the announcement, and their decision to back-track started with a lengthy apology to supporters.
Although the changed crest will be in use on their kits in 2013-14, Everton will involve fans on a panel to decide on a further new design for following seasons.
Everton CEO Robert Elstone said: "Clearly the weekend's response has meant that we have reviewed how we went about the whole of the re-design process and whilst many objectives were achieved, we recognised we missed the key part out.
"Our chairman had demanded widespread consultation and we stopped short of that. We talked to our fans' forum, our commercial partners and our experienced staff around the club. That was not enough.
"We want to put this right. Whilst the time-constraints of kit suppliers in particular present challenges, which inevitably means the version released on Saturday will be in operation for the 2013/14 season, we are determined to give our fans a greater say in how we represent the club on our jerseys, at Goodison Park and across media around the world.
"In advance of the 2014/15 campaign, we are turning to you to help us shape and refine the badge we'll adopt in the future. Evertonians from all sections of the fan-base will be pulled together in a fully transparent way.
"This group will conduct an in-depth review of all aspects of past and present club crests. The panel will then develop ideas and put forward suggestions to you. Evertonians will make the final decision.
"We have worked hard over recent years to give our fans a greater sense of involvement in the club and dialogue flows openly and freely in many areas from the fans' forum, to supporters' clubs and of course, via Everton in the Community. We will ensure the same happens with the future development of your club crest."