Everton takeover news as John Textor and 777 Partners update emerges
Crystal Palace co-owner John Textor is unlikely to face the same issues as 777 Partners in his quest to buy Everton, according to Forbes.
The media outlet reported on 29 May that given his experience in buying a stake in a Premier League club, the process of purchasing the Toffees will be more streamlined.
However, due to him already having shares in Palace, he’s unable to bid for the Merseyside outfit after 777’s period of exclusivity ends, despite making it public that he wants to purchase the club.
John Textor is not certain to be the new Everton owner
To proceed with his interest, the American billionaire needs to sell his stake in Crystal Palace to avoid violating multi-club ownership rules and this process could take time while the outcome remains uncertain.
Textor has indicated his intention to sell his share in Crystal Palace, a move necessary for him to be eligible to buy the Toffees.
He has made public his interest in buying the club, potentially signalling his seriousness about a purchase.
Textor’s group, Eagle Football Holdings, already owns stakes in other clubs, suggesting he has the financial capacity and experience to manage a club like the Toffees.
However, the situation is complicated by the fact that 777 Partners has a period of exclusivity for negotiations with Farhad Moshiri, which ends at the end of May.
Textor has acknowledged the ongoing discussions with 777 Partners but has not ruled out the possibility of a deal with the Toffees if the 777 Partners’ deal falls through which is very likely to happen.
In other Everton news, fans will be thrilled as a £3.4billion revelation has emerged surrounding the takeover.
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