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John Textor is ready to sell Palace shares to buy Everton

John Textor is ready to sell Palace shares to buy Everton

American businessman John Textor is hoping to take over Everton after declaring his intention to sell his shares in Crystal Palace.

The 58-year-old digital media and entertainment entrepreneur owns a 45 percent stake in Palace, but cannot invest in two Premier League clubs at the same time.

Earlier this month, Everton owner Farhad Moshiri reportedly granted Textor an exclusivity period to explore a possible takeover.

In a statement on his own website, Textor revealed that he had sought to increase his stake in Palace to a majority shareholding before turning his attention to Everton’s search for a buyer.

“We can confirm that we are interested in selling our shares in Crystal Palace, primarily to build a relationship with the Everton club and the community,” said Textor.

His Eagle Football Holdings already owns shares in numerous other clubs, including French club Lyon, Brazilian club Botafogo and Belgian club Molenbeek.

“The trust of fans is not something that comes quickly, but I believe we are uniquely qualified to serve and deliver results,” added Textor. “I believe it is more likely that I will call a new club and a new community ‘my club’ in the near future. Only time will tell.”

Two takeover attempts by US investors for Everton failed last year.

British-Iranian businessman Moshiri invested heavily in the Everton team and also pushed forward work on a new stadium after initially acquiring a stake in the club in 2016.

However, Everton suffered heavy losses during his tenure and their sporting results were also poor.

The nine-time English champions have fought against relegation for the past three years and had to deduct two points last season for breaching financial regulations.

Everton started the new Premier League season last weekend with a 3-0 home defeat to Brighton.

This will be the last season at Goodison Park, the club’s home since 1892, before moving to a new 53,000-seat stadium at Bramley-Moore Dock in Liverpool.

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© Agence France-Presse

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