Everton has awarded John Textor a period of exclusivity to engage in talks to take over the club. This is the third time the club has awarded a period of exclusivity after deals with 777 Partners and The Friedkin Group have fallen through. Each of these parties was looking to take over current owner Farhad Moshiri’s 94.1% stake.
Who Is John Textor: Another Period of Exclusivity at Everton
Who Is Textor?
Textor is an American businessman who made his fortune through multiple entrepreneurial start-up companies. His main area of expertise was the early internet in which he created and sold businesses in the late 1990’s and early 2000’s.
In August 2021, Textor invested in his first football club, acquiring a 40% stake for £86 million in Crystal Palace. He still holds this stake today, as he looks to sell his share to help fund the purchase of The Toffees.
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Textor’s ‘Eagle Football Holding Limited’ did not stop there. The group went on to purchase major stakes in Rio De Janeiro-based club Botafogo and Belgian club RWD Molenbeek within a week of each other in January 2022.
In June 2022, Eagles Football Holdings purchased a shareholding in Olympique Lyon, further expanding Textor’s multi-club ownership group. In December 2022, the group gained majority shareholder status in the French club.
How Has Textor Performed as an Owner
Textor’s longest ownership is his minority stake in Crystal Palace, making it hard to account for how his influence has impacted the club.
His ownership of Olympique Lyon was heavily criticised at the start of last season. The club had its worst-ever league start before miraculously recovering to finish 6th and qualify for Europe. Failing to win in their first 11 matches saw fans turn on the owner despite it being his first full season as a majority shareholder. With Lyon now settled and back towards the top end of the table it seems that Textor has regained the support of the supporters.
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Botafogo currently sit at the top of the Brazilian Serie A, as they look to win their first championship since 1995. Textor has turned the club around, having just been promoted from Serie B in 2021 just before the takeover.
Will Everton Benefit From Textor
It is hard to say how effective Textor will be in turning the club around. Financial instability in the wake of a new stadium opening has caused many on the blue side of Stanley Park to worry about the future of the club.
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Textor has shown an ability to invest in the clubs where he is a major shareholder. Moreover, it will be a change to someone who seems passionate about the clubs that he has purchased, going as far as going down to the pitch to celebrate with the players as Lyon qualified for Europe.
This is a major shift from Moshiri who has been all but absent from Goodison Park as his tenure has aged. Textor will find it hard to be worse than Moshiri, but will at least be more fun.
