American billionaire John Textor has submitted a bid to become the majority owner of Everton, potentially resolving the ongoing saga surrounding the club’s sale.
Textor’s bid mirrors the terms of his previous offer made on June 1 during an earlier round of bidding. If accepted, this would make Textor the third party in the past year to enter a period of exclusivity with Blue Heaven Holdings, the company that owns Everton. Previously, The Friedkin Group had agreed to purchase Farhad Moshiri’s 94.1% stake but withdrew after due diligence revealed concerns, particularly regarding the legal uncertainties of the £200 million in loans provided by 777 Partners, the first group to secure an agreement.
A complicating factor in Textor’s bid is his 45% ownership of Crystal Palace, which he would need to sell to acquire Everton. However, Textor is confident that his stake in Palace is highly desirable. He initially expressed interest in Everton before The Friedkin Group was granted exclusivity, and with that deal now off the table, Textor has re-entered the scene.
Textor, who invested £87.5 million for a 40% stake in Crystal Palace in 2021 and later increased it to about 45% after purchasing Lyon a year later, has reportedly held discussions with another Premier League club and a Championship team regarding potential takeovers. He is believed to be looking to profit from his investment in Palace.
According to The Guardian, this could eliminate interest from fellow investors Josh Harris and David Blitzer, who each own 18% of Palace but have only offered Textor the original amount he paid for his shares. Textor was reportedly surprised by their low offer, especially after Palace’s recent successes, including matching their highest-ever Premier League finish of 10th last season, and the ongoing construction of a new £150 million main stand. This project is likely to be partly funded by the sale of Michael Olise to Bayern Munich, with Marc Guéhi also expected to leave as negotiations with Newcastle continue.
Additionally, three other potential buyers are reportedly interested in Textor’s Palace shares, including one from the Middle East and another group backed by US sports celebrities. Textor is confident that securing financing for Everton’s new stadium at Bramley-Moore Dock could allow him to delay a possible takeover until as late as January.
Textor’s Eagle Football has invested in clubs worldwide, including Brazil’s Botafogo, Belgium’s RWD Molenbeek, and Lyon. He has been seeking to sell his stake in Palace to enable him to become the majority shareholder of another English club, with recent interest in QPR and Watford.
Everton’s financial situation has been precarious over the past two years, though it has improved recently. A takeover is still seen as essential for securing the club’s future as they prepare for their final season at Goodison Park. Last season, Everton was docked eight points for breaching profitability and sustainability rules. However, the sales of players like Amadou Onana, Ben Godfrey, and academy graduate Lewis Dobbin have ensured they are not at risk of further penalties this season. The club has also been able to make signings, including Irish center-back Jake O’Brien from Lyon, along with Iliman Ndiaye and Tim Iroegbunam on permanent deals, and wingers Jack Harrison and Jesper Lindstrøm on loan.
