John Textor agrees to pay Farhad Moshiri millions for his shares in Everton takeover
George Overhill
Wed 11 September 2024 7:10, UK
John Textor has agreed to pay Farhad Moshiri a fee that could rise to £50million to buy Everton, The Guardian reports.
According to the paper’s website on 10 September the American is prepared to give the Toffees owner an eight-figure payment for his shareholding, dependent on the club’s subsequent performance financially and on the pitch.
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Textor has also agreed to cover the £600million debt burden at Goodison Park if he completes a takeover of the club.
The Athletic reported on 11 June that Moshiri was “highly unlikely” to ever get back the £450million in shareholder loans he has put into the club when it eventually sells.
Crystal Palace part-owner wants to buy Everton
Moshiri has long been the one who has been predicted to take a major “haircut” on the value of his holding at Goodison Park [Simon Jordon on talkSPORT, 16 April, 10.25am], and that has seemingly been the case with each of the past three exclusive buyers.
The money that Textor has agreed to pay looks to be comparable to what previous prospective owner Dan Friedkin had committed to, with The Esk reporting on 7 July that the Roma owner was to hand over a “minimum figure” of £25m.
The ill-fated attempt by Moshiri to offload the club onto 777 Partners throughout last season was set to earn him £64m personally, but the Miami-based firm never proved their ability the cover the debts and were never given approval by the Premier League.
Before Textor can even reach that stage he needs to find a solution for his part-ownership of Crystal Palace, since he cannot own two top flight clubs at once.
Everton Dan Friedkin
Dan Friedkin previously advanced towards an Everton takeover (Credit: TIFF Originals – YouTube).
Sky News reported on 26 August that, as well as drumming up interest from investors to put £150m into Everton, he now has a pair of “firm” offers for his Palace shares.
But a deal in South London doesn’t appear to have been done yet, despite Textor seemingly working towards possible ownership on Merseyside.
In other Everton news, a manager has admitted he was “very, very close to signing for Everton”.
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