Alan Nixon reports that John Textor is requesting permission from the Premier League to acquire a majority ownership in Everton prior to relinquishing his interest in Crystal Palace.
The Premier League’s decision prevents Textor from acquiring Farhad Moshiri’s controlling ownership of the Toffees until he completes his planned sale of the American businessman’s 43 percent interest at Selhurst Park.
After the exclusivity date with 777 Partners passes, Moshiri can begin negotiations with other parties. The league has been preventing 777 Partners from purchasing the team for nearly the whole 2023–24 season due to financial disputes.
On June 2, Nixon posted the following on his Patreon page: “[Textor] has contacted the game’s executives to discuss his plans and ask for more time to sell his forty-three percent stake in Palace.
“Textor is currently the front-runner to keep Everton from losing. But at this point, regulations prohibit [possible owners] from simultaneously owning a stake in two clubs. He’s hoping for a grace period. Textor would have to say he has no interest in Palace matters, according to the Premier League.
For Everton, who must continue funding the team until they find a new owner, time is of the essence. If that continues too long, player sales will become inevitable.
John Textor and Everton in Premier League stand-off
Textor is willing to take a hit in order to expedite the sale of his Crystal Palace shares because he is eager to add Everton to an already illustrious empire that already includes Lyon and Botafogo.
In the upcoming weeks at Everton, the possibility of a grace period from the Premier League is crucial. If a settlement is not reached by the end of this month, players will be compelled to leave in order to avoid breaking PSR guidelines once more.
If the league were to award a grant, it would be the first time that two Premier League teams have had the same investor under the existing rules. The outcome might have a significant impact on the playing team’s performance as well as the building of the Bramley-Moore Dock Stadium site in time for the upcoming season.
The lengthy 777 agreement appears to be dead in the water; it looks like the Premier League will make the next move on the ever-expanding chess board of Everton’s takeover crisis. Moshiri wants to sell, Textor wants to buy.
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