John Textor’s shares in Crystal Palace could be bought by fellow Selhurst stakeholders as he looks to complete a takeover of Everton, according to Alan Nixon.
The journalist posted on his Patreon page (21 August) to report that Josh Harris and David Blitzer are willing to purchase Textor’s 45 per cent stake, freeing him up to become majority shareholder at Goodison Park.
Textor selling to figures already in the building at Selhurst Park would be “less disruptive” as the American looks to close a deal with Farhad Moshiri, with his large Palace stake a major stumbling block.
Harris and Blitzer are prepared to make a deal with Textor which would suit all parties, increasing their respective 18 per cent stakes in Palace and allowing a seamless transition from Textor’s part-ownership.
John Textor and Everton get green light from Crystal Palace news
Since Textor came onto the scene as a potential investor at Goodison Park – before Dan Friedkin pulled out of an exclusivity agreement with Farhad Moshiri – his stake in Palace has always been a problem.
Premier League rules state that no shareholder can own more than 10 per cent of multiple clubs, and as such, shifting 45 per cent’s worth of ownership at Selhurst Park has not been easy for Textor.
Textor’s tenure at Palace, as well as more notably at the likes of Lyon and Botafogo, has been roundly praised when compared to the likes of previous ownership candidates 777 Partners.
There are still several boxes to tick before the American can even get close to completing a deal to take over from Moshiri, notably the question of refinancing the club’s new Bradley-Moore Dock stadium [Stefan Borson, 21 August].
But with Harris and Blitzer keen to buy out his 45 per cent stake in South London, Textor can turn his full attention towards Merseyside, and hopefully bring an end to the club’s long-standing takeover limbo.
