The ongoing Everton takeover saga has taken a new turn as American billionaire John Textor has entered the bidding process to acquire the club.
This development follows the collapse of a previous deal with the Friedkin Group last month.
Textor, 58, who currently holds a 45% stake in Crystal Palace, has officially joined the race to purchase Everton from Farhad Moshiri, as first reported by The Guardian. His interest in the club became public earlier this summer, following the failed bid by US firm 777 Partners.
Last month, Moshiri put Everton back on the market after the Friedkin Group, led by US billionaire and AS Roma owner Dan Friedkin, withdrew from negotiations during an exclusivity period.
The primary reason for the collapse was concerns about the club’s debt, particularly related to 777 Partners and A-CAP.
Both 777 Partners and A-CAP are currently embroiled in civil litigation in a New York court, facing allegations of fraudulent activity.
The lawsuit was filed by London-based Leadenhall Capital Partners, who raised questions about the collateral used for loans provided to the two firms.
To complete any takeover of Everton, Textor would be required to divest his interest in Crystal Palace, in accordance with Premier League rules.
This situation mirrors Moshiri’s actions in February 2016, when he sold his shareholding in Arsenal before purchasing Everton the following month.
Textor also holds controlling interests in French Ligue 1 club Olympique Lyonnais and Brazilian club Botafogo.
He has previously expressed his interest in acquiring Everton, stating in a June interview with The Athletic, “Everton represents the best of English football: the struggles, the glory, the want.”
Textor’s comments reflect his admiration for Everton, describing the club as one of the great English institutions.
He mentioned that despite his interest, he initially believed the Friedkin Group would secure the deal.
However, with the Friedkin deal falling through, the door has reopened for Textor to make another attempt at acquiring the club.
The Guardian reports that Textor is looking to profit from his investment in Crystal Palace. His co-owners, David Blitzer and Josh Harris, are reportedly unlikely to purchase his shares, though three other parties have expressed interest.
If Textor proceeds with his bid for Everton, another period of due diligence and exclusivity would be required.
He would also need to navigate the same financial issues that hindered the Friedkin Group, particularly the debts involving 777 Partners and A-CAP.
In the aftermath of the Friedkin deal’s collapse, sources close to the situation have indicated that Everton remains an investible club, though the decision to proceed will depend on the buyer’s appetite for risk concerning the 777/A-CAP situation.
