AliousJohn Textor’s attempt to take over Everton may face additional delays if a potential buyer for his Crystal Palace shares needs to pass the Premier League’s owners’ and directors’ test, according to sources speaking to Football Insider.
Textor, who was granted exclusivity on August 15 to purchase Farhad Moshiri’s 94.1% stake in Everton, faces complications due to his 45% ownership of Crystal Palace.
Premier League rules prohibit owning two clubs in the same division.
While The Guardian reported on August 21 that Textor had traveled to Liverpool for talks with Moshiri, with a deal expected that week, no official updates have been provided, raising questions about the progress made.
Sources indicate that any buyer of Textor’s Palace shares would need to undergo the Premier League’s owners’ and directors’ test due to the size of the stake, adding uncertainty to his Everton takeover bid.
The process might be faster if Textor could reach an agreement with existing Palace owners.
Josh Harris and David Blitzer, who each own 18% of Palace, reportedly had a £100 million offer rejected by Textor.
Financial expert Stefan Borson suggests Textor likely has an agreement with his fellow Palace shareholders for them to purchase or match any third-party offer.
Concerns remain about how long Everton can continue without a takeover due to their financial situation.
While Textor is reportedly confident that arranging financing for Everton’s new stadium could allow him to delay the takeover until January, former Everton CEO Keith Wyness believes Textor must provide immediate clarity on the takeover structure if there’s a potential delay.
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