Everton takeover update as ‘disastrous’ administration outcome mooted amid John Textor interest
Everton could face the “disastrous” prospect of administration if Farhad Moshiri can’t continue to run the Toffees while they wait to be taken over, according to Jon Smith.
Moshiri remains in charge at Goodison Park after the deadline passed for 777 Partners to complete its acquisition, but Crystal Palace co-owner John Textor has publically expressed an interest in succeeding him.
Although sports agent Smith insists somebody will come forward to buy out Moshiri’s controlling stake on Merseyside, he admits that he is concerned the current chiefs won’t be able to keep the club afloat.
Writing for CaughtOffside on Tuesday (4 June) he said: “I think I said previously that if Everton went down, they would have to go into administration.
“If 777 pulled out, which has now happened, and there was nobody else, then the Russians would have to step up and keep the club alive during the process. At the moment, the only obvious potential buyer that I see is John Textor, but he has to get rid of his 45% share in Crystal Palace.
“Now, I know he’s talking to the Premier League about becoming a silent partner, so he’ll have no voice and won’t be a part of the decision-making process at Palace. His plea to the Premier League, therefore, will be on the basis that he could be allowed to have conversations with Everton.
“It makes no sense for the very wealthy Russians behind Moshiri to let this go because they’ll lose everything. They might as well keep it going and wait for a Textor or someone else – and there will be a someone else at some point.
“If the Russians can’t, for whatever reason – politically or otherwise – keep it together, then they will have to seek some sort of administrative support, which would be disastrous for Everton Football Club.”
Will Everton go into administration after 777 Partners’ takeover collapsed?
As Smith suggested, it doesn’t make any sense for Moshiri or his backers to let the football club go into administration, but that doesn’t mean that it still couldn’t happen in the near future.
Textor may want to purchase the Toffees, but that will not be possible while he still has a stake at Selhurst Park and as was demonstrated by 777’s takeover, it can take some time to shift ownership of clubs.
Administration may not be an immediate threat, especially after 777’s previous financial support, but that doesn’t mean it couldn’t still become a potential problem further down the line.
Ultimately, Moshiri has to do all that he can to try and find a new buyer as quickly as possible to ensure that this “disastrous” possibility doesn’t become the future. Hopefully, someone will acquire the club quickly and efficiently.
In other Everton news, Seamus Coleman has dropped a brand new hint over his future at Goodison Park after being offered a contract
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