John Textor to Sell Crystal Palace Stake for Everton Takeover

LONDON – American businessman John Textor has announced his intention to sell his 45% stake in Crystal Palace to facilitate a takeover of Premier League rival Everton. Textor, a 58-year-old digital media entrepreneur, has been in discussions with Everton owner Farhad Moshiri, as Premier League regulations prohibit ownership stakes in two clubs simultaneously. Textor expressed regret over his unsuccessful bid for majority control at Palace and is now focusing on acquiring Everton, stating he has received strong interest from potential buyers for his Palace shares. In a detailed statement, Textor emphasized his commitment to the Crystal Palace community, noting that efforts were made to maintain connections before pursuing Everton. He acknowledged that his initial goal upon investing in Palace in 2021 was to secure a majority interest, a target he has yet to achieve despite being the largest shareholder. Textor's Eagle Football company is now the third party granted exclusivity in negotiations for Everton, following failed talks with other potential investors. Textor's investment in Crystal Palace has reportedly approached £150 million, coinciding with a significant increase in the club's valuation, which Forbes estimated at £624 million in May. However, the complexity of his ownership structure, where he holds only one of four board seats, complicates his exit strategy. While he aims to recoup his investment, Textor may consider accepting a lower price to expedite the transition to Everton. Crystal Palace chairman Steve Parish has indicated he will not obstruct Textor's departure, acknowledging his desire for a club where he can exert greater control. As negotiations progress, Textor remains optimistic about his future in the Premier League.