American businessman John Textor is currently on Merseyside to negotiate takeover talks with Everton owner Farhad Moshiri. The current Toffees owner has been attempting to offload the club for at least a year. Although Moshiri thought he previously had a deal with 777 Partners, the firm could not complete the deal.
The Friedkin Group then entered a period of exclusivity with Moshiri regarding an agreement. Nevertheless, the Americans eventually walked away from negotiations over the massive debt piling up at the club. Despite these concerns, Textor is willing to take on these outstanding payments and become Everton’s majority owner.
Textor and Moshiri have been discussing a deal for the Toffees in recent days. Now, according to The Guardian, an official agreement is expected to be finalized by the end of the week. Textor’s previous offer, which was made before the Friedkin Group entered exclusive talks with Moshiri remains on the table.
The American is also apparently confident of securing finances to take on Everton’s new arena at Bramley-Moore dock. The stadium is expected to cost in the neighborhood of $750 million.
Textor still fielding offers for Crystal Palace shares
While an agreement is close, the complicated new stadium plans could very well push back the completion of the takeover. Along with the Bramley-Moore dock situation, Textor also has extra hurdles to climb before officially buying Everton. The main obstacle for the American is that he has to first offload his shares of Crystal Palace. Investors cannot own two different Premier League clubs.
Textor currently owns 45% of the Eagles after increasing his shares in recent years. Fellow Palace owners Josh Harris and David Blitzer have offered to pay Textor about $155 million for the shares. Textor, however, rejected the proposal and is looking for significantly more money.
Harris and Blitzer could very well increase their offer in the coming days. Nevertheless,…
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Author : Chris Moore
Publish date : 2024-08-21 21:02:31
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