Talks between John Textor and Everton owner Farhad Moshiri over a potential takeover have now broken down.
The outlet reported on its website on Monday (10 June) that the Crystal Palace co-owner is no longer in the running to acquire the controlling stake at Goodison Park, despite a belief he had met the terms for a deal.
Moshiri declined to sign an initial term sheet when Textor made an offer, which sparked the breakdown in negotiations between the two parties, with the American concluding he had been left “chasing his tail”.
Everyone involved in the talks is now in agreement that the Palace co-owner will not be taking control at Goodison and it will be available for purchase for other interested buyers.
Will John Textor to sell Crystal Palace and complete an Everton takeover?
While Textor was never the leading favourite to acquire control from Moshiri at Goodison Park, he did seem like one of the more qualified options available to Moshiri, especially after 777 Partners’ farce of a takeover failed.
But for whatever reason, this deal has almost fallen south as quickly as it begun and unless anything changes, it doesn’t seem as though Textor will be the man sitting in the owner’s seat when next season rolls around.
Whether or not that will be a good or bad thing for the Toffees is almost impossible to say without knowing what is coming next. If a cash-rich owner takes control instead, few will regret missing out on Textor’s investment.
However, if this saga now drags on for even longer, questions will be asked about why Moshiri felt it was right to leave talks with the Palace co-owner.
