John Textor’s £600m Bid for Everton: Public Flotation and Fan Ownership Ahead? | OneFootball

John Textor’s Everton Takeover: A New Dawn or Uncertainty Ahead?

The Everton takeover saga continues to take centre stage, as American businessman John Textor seeks to gain control from current majority owner Farhad Moshiri. Textor’s £600m bid is significant, not only for Everton but for the broader football world, as the deal could open the door for fans to buy shares in the club if his acquisition is successful. According to a report from The Guardian, Textor is positioning his holding company, Eagle Football Group, to float on the New York Stock Exchange, adding Everton to his portfolio that already includes Lyon, Botafogo, and RWD Molenbeek.

Textor’s Confidence in Sealing the Deal

The report from The Guardian suggests that John Textor is optimistic that his negotiations with Farhad Moshiri will lead to a formal agreement within the next four weeks. Having been granted exclusive negotiating rights, Textor seems to be in a strong position. However, despite his confidence, there remain key hurdles that need to be addressed. Textor still holds a 45% stake in Crystal Palace, and securing Premier League approval to divest that stake could be a protracted process. As the article points out, “approval from the Premier League could take far longer to secure,” making the timeline for the deal somewhat uncertain.

Photo: IMAGO

Flotation on the Stock Market: The Future of Everton?

One of the more intriguing aspects of Textor’s bid is his plan to take Everton public. Although rare for Premier League clubs, Manchester United and Tottenham have already successfully listed on the New York Stock Exchange. Arsenal’s shares are also available on the ISDX market. Could Everton follow suit? If Textor is successful, it might pave the way for the club to join the ranks of publically traded football giants, opening up opportunities for fans to own a part of the club. This, however, would require approval from Everton’s board, which might not be a straightforward process.

Photo: IMAGO

Textor’s initial public offering (IPO) for Eagle Football Group is due this month, seeking around £400m in funding. “Lyon have debts of £325m, which Textor refinanced last year,” illustrating the financial complexities involved in his multi-club ownership model.

A Challenging Path Ahead

Textor’s acquisition plans are further complicated by internal issues at Crystal Palace, where he has struggled to offload his shares. As The Guardian highlights, “negotiations with his fellow shareholders Josh Harris and David Blitzer have yet to produce an agreement,” adding another layer of complexity to an already delicate situation.

Furthermore, Textor is the fifth party to enter into negotiations with Moshiri. Previous bids from groups such as MSP Capital, 777 Partners, and the Kaminski Group have all fallen through. Textor’s bid, however, appears to have some weight behind it, as he has agreed to cover Everton’s significant debts, “which could reach £50m over the next five years, depending on the club’s football and financial performance.”

Our View – EPL Index: Expectant

Everton fans are undoubtedly watching these developments with a mixture of excitement and apprehension. The potential for fan ownership is undoubtedly a tantalising prospect, allowing the club’s most passionate supporters to have a stake in its future. However, Textor’s track record at Lyon and his current entanglements with Crystal Palace raise important questions. Is he spreading himself too thin across multiple clubs? Will his financial commitments provide long-term stability for Everton, or will they merely add to the club’s mounting debts?

The prospect of Everton being listed on the stock exchange is also a double-edged sword. On the one hand, it could generate much-needed capital, but on the other, it opens up the club to the volatility of financial markets, which may not always align with the club’s on-pitch ambitions.

As of now, there’s a cautious optimism that this takeover might be the fresh start Everton needs. Still, given the complexities involved, fans will be holding their breath to see if Textor can finally bring the stability that has eluded the club in recent years.