Business With Blain: Textor Talks
The sound bites were plenty, but will John Textor get the deal done?
When Everton majority shareholder Farhad Moshiri entered into an Exclusivity Agreement with 777 Partners in late 2023, and then The Friedkin Group in June 2024, it was flagged by Everton in a public statement on their website.
Everton have not yet issued such a statement regarding John Textor, but in an interview with Sky Sports News, published on September 11th, the American businessman referenced a contract he is drafting with Moshiri and used the magic word ‘exclusivity’; he also talked about a timeframe for his exclusivity, and indicated that this would run until the end of November.
What, then, can we read into this latest instalment of the Everton ownership saga?
WHO IS JOHN TEXTOR?
Textor is the largest individual shareholder in Premier League side Crystal Palace, and as such is not allowed by Premier League rules to have a significant shareholding in another club.
He owns 45% of the London club, and thus will not be allowed to acquire control over Everton without first selling his shareholding in Palace, or diluting his perceived influence to a level that the league is comfortable with.
Textor’s other football interests in Belgium, Brazil and France are held in his holding company Eagle Football, which he plans to float on the stock market in the US with a valuation of more than $2bn.
"You know the opportunity to step into these situations, you know you are only a caretaker. You see documentaries on the history of these clubs and people who have gone before you... you know you're never going to rise to their level in the eyes of the community of these clubs.
"Nobody wakes up and thinks, 'I get to buy Everton'. But if you decide football is what you want in your life, and then somebody comes along and asks you if you want to become the owner of Everton, it's like someone asking you if you want to be President of the United States. Of course you do.
"When I travelled to the UK for business, I would try to watch games — usually at very small clubs, like Leyton Orient or Stockport County. But Everton? I never thought about it as it was like looking at the White House and thinking I'm going to live there some day.
"When it becomes available, obviously I'm not just interested but hopefully we can get it done. It would be quite an honour."
SO, HOW IS HE TRYING TO BUY EVERTON?
However, he made it clear, in both his interview with Sky Sports and also during a press conference at Lyon, discussing their finances, that his acquisition of Everton will be a personal one — he won’t be buying through Eagle Holdings but via a new holding company called Everton Football Group. It is contemplated he will be the majority shareholder alongside two partners with “terrific resources”, who will support the acquisition.
He made it clear that the purchase would be done “with no debt, with 100% equity, it’s just a straight equity purchase”.
Furthermore, and despite the separation that may assist him in passing the Premier League’s Owners’ Test, he also said in his interview that multiple parties are interested in acquiring his shares in Palace, and that agreement on the sale of those could be concluded before the end of September. Speedy work.
HOW LIKELY IS IT TEXTOR WILL BUY EVERTON?
Speaking with confidence about matters under his control, Textor feels “there’s a greater than 90% probability” that he will become the next owner of Everton. He was, though, also candid and frank when he said: “I’m not the owner of Everton Football Club and he [Moshiri] still has plenty of options”.
Throughout his Sky Sports interview, he said things about Everton that would endear him to the wider fanbase; he talked with passion about the privilege of owning such a great historical club and returning it to its former glory.
His interview was rich in the kind of sound bites befitting of a man who has confidently grown businesses, lives and breathes football and clearly believes through Everton he can do it again.
Time will tell if his confidence is justified, but at least the Everton fans know what the timeline is: Textor needs to sell his shares in Palace and conclude an agreement with Moshiri before the end of November and then gain Premier League approval.
If he does that, he may very well get his wish to get his feet under the table in time to plan for the January transfer window — something that Everton fans would relish.
His hands-on approach may make him marmite, but first impressions, in this writer’s view, are good — he appears decisive and engaging, something the club has lost the ability to consistently be during the Moshiri years.
WHAT HAVE EVERTON SAID?
On Thursday, shortly before Sean Dyche’s pre-match press conference ahead of Saturday’s trip to Aston Villa, Everton released a statement on their website.
"While positive conversations and progress continues to be made with Mr Textor to formalise any deal with him, there remains some work to be done to complete the transaction.
"Accordingly, the comments made by Mr Textor merely represent his personal view on club matters.
"Everyone at the club is staying focused on providing the best support possible to [manager] Sean and the squad as we head into the weekend's fixture."
By JohnB
WHAT COULD THIS MEAN FOR SEAN DYCHE?
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