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What John Textor has just said about Liverpool amid Everton takeover latest
Everton takeover bidder John Textor is not one to mince his words and his cited Liverpool in his latest critique of where the power lies in football.
Textor is currently embroiled in an increasingly complicated attempt to buy Everton, with the American billionaire believed to be the preferred bidder of current owner Farhad Moshiri.
News that former Everton benefactor Alisher Usmanov is taking legal action against Moshiri in the Russian courts has added yet another layer of complexity to proceedings.
Once the takeover situation is finally resolved, Everton must immediately turn their attention to reducing their debt, ensuring a smooth transition to Bramley Moore Dock, and navigating their PSR issues.
PSR (Profit and Sustainability Rules) has been a constant concern in recent years for Everton, who received to separate sanctions last season for breaches in 2021-22 and 2022-23.
What’s more, Everton face a third PSR hearing later this year in relation to their capitalisation of interest payments for the construction of Bramley Moore Dock.
As co-owner of Crystal Palace, Textor knows all about the anchor that is PSR.
And the multi-club mogul has cited Everton’s cross-city rivals Liverpool in his latest attack on the system, which he believes is designed to insulate the super-rich from failure.
Liverpool benefiting unfairly from PSR, claims John Textor
Under the current PSR model, Premier League clubs are allowed to lose no more than £105m over a rolling three-year period.
After years of profligate spending under Moshiri, it is this threshold which an independent commission deemed that Everton broke in 2021-22 and 2022-23.
Textor is a staunch critic of PSR, which used to be called financial fair play, or ‘FFP’ for short.
As quoted by in his latest tirade against the system, Textor said: ”Let’s start with the definition of financial fair play.
“It seems obvious, everyone wants fair play. That’s not what the term means in Europe. If you go to my website, you’ll see that I talk about it.
“The term financial fair play is a fraud, because it’s not fair enough. It says that teams can only spend 75% of their revenue on player salaries.
“It’s a rule in Europe that was made to allow the big teams, with their big brands, like Liverpool, Manchester United, to spend more money.“
Liverpool, steered by Boston-based investment group FSG, have been one of the biggest revenue generators in Europe in recent years.
Their operating income and emphasis on long-term profitability has insulated them against the kind of PSR issued that the likes of Everton have face.
Everton’s status under imminent changes to the PSR system
Leicester City’s recent escape from PSR punishment has undermined the little faith that existed in the system.
However, Premier League clubs will have the chance to vote on a new model of spending restrictions at the league’s AGM next summer.
It is expected that clubs will give the nod to a new system that limits annual spend on wages, transfers and agent fees to 85 per cent of revenue.
This is similar to the model that UEFA, European football’s governing body, are currently phasing in.
Under the new Premier League model, Everton’s playing budget – based on their most recent set of accounts – would be £146.2m.