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News
Investor who wants to take over Everton gets ‘exceptional’ £136m boost from France
One of the investors in the running to take over Everton has landed a £160m windfall thanks to developments in his business empire.
The Everton takeover saga has now been running for well over a year, with supporters🐬 now left in limbo as to who will run their club in 2024-25.
Farhad Mos🅘hiri i𝕴s now exploring alternative options after a period of excl𓂃usivity with Mia𒅌mi-based 777 Partners expired at the end of May.
Several candidat⭕es have emerged ✅from the world of finance, both in terms of groups and high-wealth individuals looking to secure a takeover.
One of those options is Crystal Palace co-owner John Textor, who is currently trying to sell his 40 per centꦬ stake in the club.
And the billionaire, who holds stakes in a number of clubs throughout𒅌 the world, has received some good news from one of those outposts 🍸in France.
John Textor secured £136m deal in Lyon
One 💛of the cluꦡbs Textor is involved with is Olympique Lyon.
🏅The 58-year-old launched a campaign to reorganise the club’s finances last year, with the aim to sell off the club’s non-core football assets.
One of those assets was the LDLC Arena, the 16,00ಌ0-capacity sports and music venue owned by the seven-time French champions.
As relayed by , the sale of the arena haꦓs now been confirmed.
The deal, which was struck with Lyon’s former owners Holn🅘est, who described the deal as “exceptional” in an official statement, is worth £136♎m in total.
Textor has promised to reinvest the funds in the football side of the business, giving𒆙 them a platform to build on their 6th place fini🌟sh in 2023-24.
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Everton takeover: How will this affect Textor’s campaign
It appears as though the two frontrunners for Everton are a group led by local financiers Andy Bell and Geoဣrge Downing as well as MSP Sports Capital.
The Premier League’s rules on dual ownership dictate that Textor would need to sell his stake♛ in Palace before going any further with an Everton deal.
He is believed to have suggested workarounds to the Premier League, such as establishing 🔜an independent body to oversee his Palace stake while he works on a deal for the Toffees.
However, the noise is that he has had no luck in 💃this area, which might mean he is forced to stal🦂l and re-evaluate his long-terms strategy.
One realistic alternative would be to hope MSP can get a deal over the line and that they can effectiꦜvely act as custodians of the club𒐪 while he sells his Palace stake.
While MSP do own stakes in a number of clubs, their strategy is typically to be a silent partner, so it would be unusual if thไe🐠y were choosing to go all in on Everton for the long term.
That bodes well for Textor’s chances.