John Textor seeking Premier League approval in Everton and Crystal Palace takeover twist

John Textor is seeking approval from the Premier League to purchase a majority share in Everton before selling his stake in Crystal Palace, according to Alan Nixon.

The American businessman currently holds a 43-per-cent stake at Selhurst Park which he is looking to move on, but until that is complete, Premier League ruling prohibits Textor from purchasing Farhad Moshiri's majority ownership of the Toffees.

Moshiri can open talks with alternative parties following the passing of the exclusivity deadline with 777 Partners, whose attempts to buy the club have been blocked by the league for almost the entire 2023-24 season amid financial controversy.

Nixon reported via his Patreon account [2 June]: "[Textor] has made contact with the game's chiefs to outline his plans and request an extension of time to sell his 43% of Palace.

"Textor is now the leading candidate to save Everton. However, current rules prevent [potential owners] having an interest in two clubs at the same time. He hopes to be granted a grace period. The Premier League would demand that Textor takes no interest in Palace affairs.

"Time is vital for Everton who have to keep financing the club until they find a new owner. Player sales will be unavoidable if that goes on too long."

John Textor and Everton in Premier League stand-off

With Textor keen to add Everton to an already decorated empire which includes the likes of Lyon and Botafogo, work must be done to ensure he can sell his shares in Crystal Palace - on which he is willing to take a hit to accelerate the process.

The potential of a grace period from the Premier League is critical for the coming weeks at Everton, with players forced towards the exit door by the end of this month should a deal not be struck in order not to fall foul of PSR rulings once again.

Any grant from the league would make it the first time under the current guidelines that two Premier League clubs have shared the same investor, and the fortunes of both the playing squad and the development of the Bramley-Moore Dock Stadium site in time for next year could hinge on the decision.

Moshiri wants to sell, Textor wants to buy, and the protracted 777 deal looks to be dead in the water - now it appears to be over to the Premier League for the next move on the ever-widening chess board of Everton's takeover saga.

In other Everton news, Amadou Onana's agent's stance has been shared amid transfer speculation.

For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.