AliousEverton Football Club is currently in the midst of a potential ownership change, with US billionaire John Textor emerging as the frontrunner to acquire the club. This development comes after previous failed attempts to sell the club, including a collapsed deal with 777 Partners and the withdrawal of interest from Dan Friedkin’s group due to concerns over existing debt.
Textor, who already holds significant stakes in several football clubs including Crystal Palace, Botafogo, Olympique Lyonnais, and Molenbeek, has expressed strong interest in purchasing Everton. In a recent interview, he likened the opportunity to own Everton to being offered the presidency of the United States, emphasizing the club’s prestige and his lifelong passion for English football.
However, Everton has distanced itself from Textor’s public comments, acknowledging ongoing negotiations but emphasizing that there is still work to be done to complete any transaction. The club’s interim CEO, Colin Chong, stated that Textor’s remarks represent his personal views and not the official stance of the club.
A major hurdle in the potential takeover is Textor’s current 45% shareholding in Crystal Palace, as Premier League rules prohibit significant ownership in multiple clubs within the same division. To proceed with the Everton purchase, Textor would need to divest his Crystal Palace shares. Discussions are reportedly underway for other Palace shareholders, Josh Harris and David Blitzer, to acquire Textor’s stake, which could expedite the Everton takeover process.
The complexity of acquiring a controlling stake in a Premier League club involves rigorous checks by various regulatory bodies. However, Textor’s previous experience with such processes could potentially streamline his approval for the Everton takeover, provided he secures the necessary funds and resolves his Crystal Palace interests.
Sports law experts note that the speed and complexity of football club acquisitions vary significantly depending on whether it’s a full takeover or a minority stake purchase. A complete takeover requires more extensive due diligence and negotiation, whereas acquiring or divesting a minority shareholding is typically a simpler process.
Overall, while Textor appears to be in a strong position to become Everton’s new owner, several steps remain before any deal can be finalized, including regulatory approvals and resolving his current football club investments.
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