John Textor moves to sell Palace stake for Everton takeover

John Textor, an American businessman, is on the verge of selling his 45 percent stake in Crystal Palace, which is a crucial step towards his ambition of acquiring Everton. He has reportedly reached an agreement with Everton's current majority owner, Farhad Moshiri, allowing him until November 30 to finalize the takeover deal. This timeline is essential as Premier League regulations prohibit ownership interests in multiple clubs simultaneously. Textor's previous attempt to buy Crystal Palace outright was unsuccessful, prompting him to focus on divesting his stake in the London club. He has indicated that there is significant interest in purchasing his shares, with 14 qualified groups expressing interest in Crystal Palace. Out of these, five have progressed to the next stage of negotiations. The potential sale of his stake is not just a financial maneuver; it is a strategic move to align with Premier League rules and facilitate his takeover of Everton. The urgency of the situation is underscored by the deadline set by Moshiri, which adds pressure to finalize the deal. If successful, this transition could mark a significant shift in ownership dynamics for both clubs, potentially impacting their future strategies and performances in the league. Textor's actions reflect a broader trend of American investment in English football, highlighting the increasing globalization of the sport.