American billionaire John Textor has made a bid to become majority owner of Everton, which could end the saga surrounding the sale of the club.
The terms are the same as the previous round of bidding, when Textor made an offer on June 1. If the offer is accepted, Textor will be the third party to enter into an exclusivity period last year with Blue Heaven Holdings, the company that owns Everton. The Friedkin Group had agreed a deal to buy Farhad Moshiri’s 94.1% stake but withdrew after careful consideration. The American investors were concerned about the legal uncertainties surrounding the £200 million in loans given to the club by 777 Partners, the first company to agree to a deal.
A complication with Textor’s offer is that he owns 45% of Crystal Palace and would have to sell those shares to buy Everton, although he is convinced his stake in the London club is highly sought after. He was keen on Everton before the Friedkin Group was granted exclusivity and has backed out after the Friedkin Group failed to revive their interest.
Textor, who paid £87.5m for a 40 per cent stake in Palace in 2021 before increasing his stake to around 45 per cent when he bought Lyon a year later, is understood to have held talks with another Premier League club and one in the Championship over a possible takeover in recent weeks and is believed to be looking to make a profit on his Palace investment.
According to the Guardian, that could exclude fellow countrymen Josh Harris and David Blitzer, who own 18% of Palace but are believed to have offered Textor the amount he paid for his shares. Textor is said to have been surprised by their low offer after a successful period on and off the pitch, which saw Palace reach their highest-ever Premier League finish of 10th last season, and after work began on the new £150m main stand. That is likely to be funded in part by the sale of Michael Olise to Bayern Munich, and Marc Guéhi is also expected to leave as talks with Newcastle continue.
Three other investors are also said to have expressed interest in buying Textor’s shares, including one from the Middle East and another, reportedly a group backed by sports stars in the US. Textor is apparently confident that by funding Everton’s new stadium at Bramley-Moore Dock, he can delay a potential takeover until January.
His Eagle Football has invested in clubs all over the world, including Brazilian Premier League side Botafogo and Belgian club RWD Molenbeek, as well as Lyon. Textor has been considering selling his stake in Palace to become majority owner of another English club for some time, and has recently looked at QPR and Watford.
Everton’s financial situation has looked dire over the past two years and although the outlook has improved in recent months, a takeover is necessary to provide greater security to the club as it enters its final season at Goodison Park.
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Everton were deducted eight points last season after breaching profitability and sustainability rules. This summer, the sales of Amadou Onana, Ben Godfrey and academy graduate Lewis Dobbin have ensured they do not risk further penalties this season. They have also been able to spend money, signing Irish centre-back Jake O’Brien from Lyon last week. Iliman Ndiaye and Tim Iroegbunam have joined via permanent transfers, while wingers Jack Harrison and Jesper Lindstrøm have been loaned.
