John Textor, a prominent U.S. businessman, is pushing forward with his ambitious plan to acquire Everton, signaling a pivotal moment as he aims to expedite the sale of his stake in Crystal Palace.
Selling Crystal Palace Stake
Textor, who currently holds a 45 percent share in Crystal Palace, has enlisted the Raine Group, a renowned merchant bank, to facilitate the sale of his shares.
This move is part of his broader strategy to streamline the purchase of Everton.
Sources close to the situation have revealed to Mail Sport that Textor is eager to accelerate the sale of his Palace stake, which was initially set to attract written offers by late September.
However, his desire to buy out Everton’s current owner, Farhad Moshiri, has sped up the entire process, including the bidding phase.
Progress and Interest
So far, around 14 parties have expressed initial interest through Raine, with a few moving quickly to explore the deal further.
There is optimism that the selection of a preferred bidder is nearing completion, with some serious contenders demonstrating their capability to make a swift purchase.
This urgency aligns with Textor’s goal, as a rapid sale of his Palace shares would facilitate his acquisition of Everton.
Despite this, insiders caution against dismissing potential buyers who have shown tentative interest.
Support from Aliya Capital Partners
Recent developments include investment management firm Aliya Capital Partners backing Textor’s bid for Moshiri’s 94.1 percent stake in Everton.
A statement from Everton last week acknowledged “positive conversations” with Textor but noted that further work is needed to finalize the deal.
What’s Next?
As the process unfolds, all eyes will be on how quickly Textor can offload his Palace shares and finalize the acquisition of Everton.