Victor Chi
Updated on: October 10, 2024 9:25 am GMT
In a bold statement that echoes the weight of a heavy responsibility, prospective Everton owner John Textor likens taking over the club to becoming President of the United States. As the fifth bidder to enter into an exclusivity agreement to purchase Everton, Textor’s words reflect the emotional significance and potential challenges associated with leading a storied football club. The 58-year-old digital entrepreneur is aiming to finalize a deal with current majority shareholder Farhad Moshiri before a November 30 deadline.
The Bid for Everton
Who is John Textor?
John Textor is no stranger to the world of football ownership. He currently holds stakes in several clubs, including Ligue 1 side Lyon, Brazilian club Botafogo, and Belgian team Molenbeek, all under his company Eagle Football Holdings. His recent ambition is focused on Everton, a club he believes has potential despite recent financial downturns.
A Unique Challenge
Textor’s path to acquiring Everton is complicated by Premier League rules, which prevent individuals from owning stakes in more than one club. This means that before he can finalize the Everton deal, he must sell his 45 percent stake in Crystal Palace. In an exclusive interview with Sky Sports, Textor expressed confidence that closing the deal is imminent, stating, “I feel a deal is close to being reached.
Textor speaks to Sky Sports about his aspirations for Everton and the responsibilities that come with being an owner.
Textor’s Vision for Everton
Embracing the Legacy
In his interview, Textor emphasized the historical significance of the clubs he associates with. He views the role of a football club owner as that of a caretaker rather than simply a buyer. He said, “These clubs have been legendary long before we were alive…You see documentaries on the history of these clubs and people who have gone before you.”
He is keenly aware that the fans’ traditions and expectations come with being a custodian of such an iconic club. As he contemplates the possibility of ownership, he recognizes the enormous pressure that comes with it, stating, “Nobody wakes up and thinks, ‘I get to buy Everton.’ But if you decide football is what you want in your life…it’s like someone asking you if you want to be President of the United States. Of course, you do.”
Financial Health of the Club
Textor reassured fans that Everton is in a relatively good financial position and does not necessarily require immediate financial assistance. He noted, “Fans should know that Everton are pretty well off right now and have good cash to support themselves.” However, he acknowledged the pressing need to complete the club’s new stadium to ensure future success.
Future Plans: Engaging Fans
Offering Shares to Fans
Should Textor successfully take over Everton, there may be exciting opportunities ahead for the club’s devoted fanbase. Reports suggest that he has plans to give fans the chance to buy shares in the club, effectively allowing them a stake in its future. This is not a common practice within the Premier League but has been seen with other major clubs like Manchester United and Tottenham.
Stock Market Aspirations
Textor’s overarching strategy involves potentially floating Eagle Football Group on the New York Stock Exchange, which would include Everton as a key asset. Sources indicate that this move could attract additional investment and will likely make shares more appealing to prospective investors. The flotation is expected to generate approximately £400 million in funding, which would support both Everton and other clubs within Textor’s portfolio.
Addressing Challenges
Partnership Dynamics
The journey to acquiring Everton is not without its hurdles. Textor’s ongoing efforts to sell his stake in Crystal Palace have proven to be a complex matter, faced with a boardroom standoff among stakeholders. Everyone involved is keen for a resolution, but negotiations have yet to yield an agreement on selling his shares. Textor has claimed there are 14 groups interested in purchasing his shares, which presents both challenges and opportunities.
Looking Ahead
Despite the complexities, Textor remains focused on putting together a comprehensive plan for Everton’s future. He feels optimistic about completing the deal within the designated timeframe and is excited about the club’s potential. “It would be quite an honor,” he said, reflecting on the chance to lead a club with such rich history.
Recent Developments and Context
Over the past six months, Everton has struggled financially, with various takeover bids collapsing, leaving many fans uncertain about their club’s future. Previous bidders like the Kaminski Group and the Friedkin Group have stepped back. Textor’s distinct approach, which includes a plan to engage directly with fans, could offer a glimmer of hope. Football supporters are looking not only for financial stability but also for a leader who aligns with their ambitions.
Conclusion
John Textor is trying to take over Everton, and football fans are paying close attention. He understands how much owning a club means to the supporters, who want a better future for their team. Textor has exciting ideas, like getting fans involved in owning the club and making smart financial choices to help it succeed for a long time. His plans could wake Everton up from being a quiet team and turn it back into a strong competitor in football. The next few weeks are really important as he works on finishing the deal and starting this big adventure.
