Everton takeover: Big update today as John Textor jets in for talks – sources
John Textor could potentially gift his Crystal Palace shares to members of his family to allow him to complete a takeover at Everton, sources have told Football Insider.
It emerged last week Textor has entered a period of exclusivity to buy owner Farhad Moshiri’s 94.1-per-cent stake at Goodison Park.
The Guardian reported on 21 August the American billionaire is now in Liverpool to hold further talks with Moshiri and a deal is expected to be agreed by the end of this week.
But one complication is the 58-year-old’s 45-per-cent stake in Palace, with Premier League rules forbidding ownership of two clubs in the same division.
Sources have told Football Insider Textor will not be permitted to put them into a trust because he would still be the beneficiary of those shares.
But he could potentially gift them to family members as long as he provides the necessary assurances to the Premier League about his lack of control, influence and beneficial ownership of the shares.
Everton takeover could be delayed by John Textor’s Crystal Palace shares
Palace are one of four teams Textor’s company Eagle Football Holdings owns shares in, with majority stakes in French side Lyon, Brazilian first division outfit Botafogo and Belgian side RWD Molenbeek.
Josh Harris and David Blitzer, who own 18-per-cent stakes in the south London club, are believed to have seen an offer of around £100million turned down by their compatriot.
Palace chairman and co-owner Steve Parish revealed on 15 August he is “very happy” for Textor to move on and fulfil his ambitions elsewhere, and that the club are helping him with that process.
But finance expert Stefan Borson revealed to Football Insider the American will likely need to bring in third-party financing to buy Everton if he manages to resolve his situation at Selhurst Park.
The American previously registered an interest in the Merseyside giants before The Friedkin Group was handed exclusivity in June after agreeing a deal in principle with Moshiri.
But Everton are now back on the market after the Texas-based firm pulled out of the deal last month due to risks associated to the £200million loan provided to the club by former prospective owner 777 Partners.
In other news, Everton ready striker offer as deadline approaches.
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