John Textor confident of Everton takeover as he bids to sell Palace shares
The 58-year-old digital media and entertainment entrepreneur has a 45 per cent stake at Selhurst Park.
American businessman John Textor is confident of completing a takeover at Everton after outlining his desire to sell his interest in Crystal Palace.
Textor has a 45 per cent stake in Palace but has been in talks with current Everton owner Farshad Moshiri about taking over the Toffees.
The 58-year-old digital media and entertainment entrepreneur has to sell his Palace shares as he can not invest in two Premier League clubs at the same time.
“We can confirm that we are interested in selling our interest in Crystal Palace, largely so that we can pursue a relationship with the Everton club and community,” Textor said in a lengthy statement entitled ‘Regarding Premier League Ownership Intentions’.
“Several months ago, we hired Raine Group to begin the process of evaluating alternatives as we were considering two very different alternatives at that time, either a purchase of a majority interest in Palace or an outright sale.
“Since the beginning of our investment in 2021, and our initial 40 per cent purchase, it had always been my intent to purchase a majority interest in the club.
“I was invited to buy a majority interest at that time and I have often regretted not doing so previously.
“Though we have been able to increase our percentage ownership of the club, and we remain the largest shareholder of the club, we still have yet to acquire a majority interest.
“The club remains governed in the same fashion today as it was in 2021. We are one of four principal partners of the club and we all have equal rights of management, control and governance.”
Textor is the third party to be granted a period of exclusivity about taking over Everton after the club’s previous talks with 777 Partners and the Friedkin Group fell through.
Confirming his interest in Everton, Textor – who also owns clubs in Belgium, Brazil and France – said: “Yes, we have been evaluating alternative relationships in football to complete our family, to include a strong and collaborative UK community – but before we decided to leave one family to join another, we did try to do everything possible to stay connected with the club and community of Crystal Palace.
“It is true that we made an offer to buy the remaining shares of Crystal Palace, at a valuation that far exceeds levels of prior investment. We did so with a strong belief that Palace has become a much more valuable club since 2021 and we respected our partners enough to offer fair value, regardless of circumstances.
“It is also true that our offer did not induce a response, and we believe that our Palace partners have the same desire to remain in ownership as we once did… so our Raine Group efforts to sell our interests resumed.
“We have no expectation of immediate acceptance as we show up in a new town, with Palace gear stored in our trunks and memories that we will cherish forever.
“Trust is not earned quickly with supporters but I do believe that we are uniquely qualified to serve and deliver results, and I do believe that it is more likely than not that I will be referring to a new club and community as ‘my club’ sometime soon. Only time will tell.”
