John Textor's Everton takeover bid: More work needed, says club
American businessman John Textor is advancing in his bid to buy Premier League club Everton. However, the club has stated that there are still details to be finalized before the transaction can be completed. The BBC had previously reported that Textor was given an exclusivity period for the purchase of majority stakeholder Farhad Moshiri's shares in Everton. Here we present the key details.
Textor must sell Palace stake to buy Everton
The report adds that a potential deal hinges on Textor selling his 45% stake in fellow Premier League club Crystal Palace, as the league's rules prohibit individuals from owning stakes in multiple clubs. In a recent interview with Sky Sports, Textor likened owning Everton to becoming the US President. He also revealed that he has received two substantial offers for his stake in Palace and has an agreement with Moshiri to finalize the Everton deal by November 30.
Everton CEO acknowledges progress in takeover talks
Everton's interim CEO, Colin Chong, confirmed that discussions with Textor about a potential club purchase are ongoing. He confirmed that while positive conversations are continuing, there is still more work to be done to finalize the transaction. Chong emphasized that Textor's comments represent his personal perspective on club matters and assured that everyone at Everton remains committed to supporting manager Sean Dyche and his team ahead of their upcoming match.
Textor's previous football investments and Everton aspirations
Textor, through Eagle Football Holdings, has previously invested in several football clubs, including Lyon FC in France, Botafogo in Brazil, and Molenbeek in Belgium. He expressed his enthusiasm about the prospect of owning Everton. "Nobody wakes up and thinks, 'I get to buy Everton,'" he said. "But if you decide football is what you want in your life... it's like someone asking you if you want to be President of the United States."
Everton's current and past season performance in the Premier League
Currently, Everton are placed 20th in the Premier League, losing all three matches this season. They have scored two goals in addition to conceding a total of 10. The 2023-24 season saw Everton win 13, lose 16 and draw nine of their 38 Premier League matches. They claimed 40 points. They finished 15th, after an 8-point deduction in total, following two separate breaches of the Profitability and Sustainability Rules (PSRs) of the PL.
