The owner of Crystal Palace wants to share his stake and buy Everton
Crystal Palace owner John Textor is looking to sell his stake in the club as he looks to buy Everton.
John Textor, American businessman and owner of Eagle Football Holdings, is exploring the sale of his 45% stake in Crystal Palace.
The move is part of Textor’s plan to retain majority control of his sports investment, a position he will not be able to achieve at Crystal Palace due to the lack of additional equity.
Textor initially bought a 40% stake in Crystal Palace in August 2021 and later increased it to 45%. However, his ambitions to acquire a larger stake have been hampered by the reluctance of the group’s current shareholders to sell more shares.
Textor wants to buy Everton
This limitation has led him to consider selling his existing stake, especially since he has expressed a desire not to remain a passive investor in the long term.
Instead, he has his eyes set on buying Everton, who are currently on sale. However, a move could be dependent on him selling his stake in Palace first.
According to the Daily Mail, it is unlikely that the Toffees will remain for sale when he has sold his share of Palace.
Textor told The Athletic that he had enlisted banking firm Raine to help him sell his Palace stake, saying the Eagles’ recent resurgence had gone unnoticed by potential buyers.
Meanwhile potential buyers of the Everton 777 are facing some legal issues that have delayed their takeover.
However, it is reported that the current owner Fahad Mishori has given them a decision to prove that they can buy the club.
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