American businessman John Textor has admitted that he has had talks with regard to investing in Everton as he moves to sell his stake in Crystal Palace.
Textor’s Eagle Football Holdings own 45% of the South London club’s shares and have unsuccessfully tried to increase that to a majority holding in recent years to go with their controlling interest in Brazilian club Botafogo, Lyon in France and RDW Molenbeek in Belgium. He was also contemplating a bid for Portuguese giants, Benfica.
777 Partners have had an agreement to buy out Farhad Moshiri’s 94.1% stake in Everton since mid-September and appear no closer to satisfying the Premier League’s pre-requisites for approving their takeover of the Club.
Moshiri has extended to the end of the month the deadline by which the Florida-based investment firm need to find around £220m to cover the repayment of MSP Sports Capital’s loan to Everton last year and the League’s demand that £60m be placed in an escrow account to fund ongoing operations.
In the interim, the Anglo-Iranian told the Everton Fan Advisory Board in a virtual meeting earlier this week that he has fielded ‘unsolicited approaches’ from other potential investors, one of whom may well be Textor.
“Yes [I’ve had conversations around buying Everton],” Textor told The Athletic. “With the existing constituents – different groups, different lenders, different equity holders.
“I’ve asked them ‘is there a way to solve all this confusion and address everyone’s problems?’ I’m very open-minded to it but I don’t want to come into a situation where I’m not really welcome.
“I’m watching it but 777 still has a contract. There are people that are close to the club who care a lot about it who are also investing.”
Textor also admits that the timing may not work out given Everton’s immediate need for investment and the imminent expiry of 777’s Share Purchase Agreement with Moshiri.
The Premier League’s ownership rules would prevent Eagle Football from taking a position in another club while they were waiting for their stake in Palace to sell. Textor has reportedly engaged investment bankers, Raine Group — coincidentally, they explored taking a stake in Everton last year — to seek a buyer.
“We’re also looking at other opportunities and we don’t need to jump right out of Palace right into something. That’d be a mistake,” he expained.
“I suspect that the problem with Everton is it won’t be available by the time we would be ready for it. You can’t own two clubs in one league and we’re not going to rush the situation at Palace, no matter how good another opportunity looks.”
However, he spoke glowingly of the attractive proposition that the Toffees present.
“Everton represents the best of English football: the struggles, the glory, the want. I love that it’s out of London. Everybody should want to buy Everton right now,” he said.
“That kind of club is what I’m referring to, where the risk and the reward of your relationship and community is so great and you could come in, make promises and keep them. How great would it be to take one of these great English clubs back to sort of glory?”