Austute ManAmerican businessman John Textor is preparing to take his sports and technology holding company, Eagle Football Holdings, public on the New York Stock Exchange with a valuation of over $2 billion. This move comes as Textor is in exclusive negotiations to acquire Everton Football Club, a Premier League team that has had a poor start to the season.
Textor has lined up bankers from Stifel and TD Cowen to work on the initial public offering (IPO), which is expected to raise around $500 million in new funding from investors. The company, which owns a 45% stake in Crystal Palace and controlling stakes in several other clubs, including Olympique Lyonnais, Botafogo, and FC Florida, is likely to use the funds to further expand its portfolio of football teams.
However, Textor’s plans to take Eagle Football public and acquire Everton are not without complications. Premier League rules require him to dispose of his stake in Crystal Palace before completing the takeover of Everton. Textor has received firm offers from two parties capable of executing a deal rapidly, but the identities of these parties have not been disclosed.
If the IPO proceeds as planned, Eagle Football’s stock is expected to begin trading in November. Textor has previously spoken about the benefits of public ownership of football teams, including greater transparency for fans and the potential for increased investment in the sport. However, some listed clubs have had difficult relationships with supporters due to dominant shareholders controlling voting rights.
The move to take Eagle Football public is also seen as a way to democratize ownership of football teams, giving fans a greater say in the running of their clubs. This issue is likely to be at the heart of a bill on football regulation when it is reintroduced to parliament by the new Labour government.
Textor, a successful former media executive, has a strong track record of investing in football teams and has spoken about his passion for the sport. His plans to take Eagle Football public and acquire Everton are seen as a significant development in the world of football finance.
Sport nation
