Sport nationThe ongoing saga of Everton’s potential takeover has taken a significant turn, with one of the investors vying for control receiving a substantial boost to their finances. John Textor, the billionaire co-owner of Crystal Palace, has secured a £136m windfall from the sale of Olympique Lyon’s LDLC Arena.
Textor, who holds stakes in various clubs worldwide, has been attempting to reorganize Lyon’s finances since last year. The sale of the 16,000-capacity arena, owned by the seven-time French champions, is a significant step forward in this endeavor. The deal, described as “exceptional” by Lyon’s former owners Holnest, will see Textor reinvest the funds into the football side of the business.
This development has significant implications for Everton, as Textor is one of the frontrunners in the race to take over the club. The Premier League’s rules on dual ownership dictate that Textor must sell his stake in Palace before pursuing an Everton deal. However, Textor has suggested workarounds to the Premier League, such as establishing an independent body to oversee his Palace stake while he works on a deal for the Toffees.
Despite these efforts, Textor has reportedly had no luck in this area, leading him to re-evaluate his strategy. One possible alternative is to hope that MSP Sports Capital, another frontrunner in the takeover race, can secure a deal and act as custodians of the club while Textor sells his Palace stake.
Textor’s relationship with fellow Palace co-owner David Blitzer, who has a partnership with MSP, could prove useful in this scenario. MSP’s strategy is typically to be a silent partner, making it unlikely that they would be interested in taking over Everton long-term. This bodes well for Textor’s chances of eventually securing a deal.
The Everton takeover saga has been ongoing for over a year, leaving supporters in limbo as to who will run their club in 2024-25. Farhad Moshiri, the current owner, is exploring alternative options after a period of exclusivity with Miami-based 777 Partners expired at the end of May.
Several candidates have emerged from the world of finance, including groups and high-wealth individuals looking to secure a takeover. The situation remains fluid, with Textor’s financial boost adding a new layer of complexity to the negotiations.
As the saga continues to unfold, Everton fans can only watch and wait, hoping that a resolution will be reached soon. The club’s future hangs in the balance, and the outcome of the takeover battle will have far-reaching consequences for the Toffees.
In the meantime, Textor’s financial boost has given him a significant advantage in the takeover race. Whether he can capitalize on this and secure a deal remains to be seen, but one thing is certain – the next few weeks will be crucial in determining the future of Everton Football Club.
Austute Man
Sport nation
