Advertisement
Advertisement
Advertisement
More
Advertisement
Advertisement
Advertisement

How Everton could be saved by John Textor's potential takeover

Everton have started the season with three losses
Everton have started the season with three lossesLee Smith / Action Images via Reuters
John Textor appears to be slowly edging towards his aim of buying Everton after being granted a period of exclusivity to purchase the club by current majority owner Farhad Moshiri.

Moshiri has a 94.1% stake in the Merseysiders which he is happy to offload to Textor, which Everton fans hope will bring an end to the financial insecurity that has seemed to surround Goodison Park for an eternity. 

Yet any deal is dependent on Textor selling his 45% stake in Crystal Palace due to Premier League rules, which forbid any owner from having any kind of ownership interest in more than one club. 

Textor is open about his ambitions, and that he wants to own a club that wins championships. 

This is something that Everton have failed to do since 1987 in their Howard Kendall-inspired heydays of the eighties, spearheaded by the likes of Kevin Ratcliffe, Peter Reid and Graham Sharp. 

The American who was born in Missouri is the founder and chairman of Eagle Football, his team boasts many prominent figures including board member Jamie Dinan who is the founder of Manhattan-based hedge fund York Capital Management.

According to Forbes, Dinan has a current net worth of $2.1 billion (£1.6 billion). 

John Textor owns stakes in Botafogo, Crystal Palace and Lyon
John Textor owns stakes in Botafogo, Crystal Palace and LyonJhony Pinho / AGIF via AFP

Textor is also globally recognised as a pioneering figure in the development of disruptive technologies, creative content, and digital distribution business models for media, entertainment and the Internet. 

He is the retired executive chairman of Fubo TV, a sports streaming service that featured NFL, MLB, NBA, NHL, MLS and international football. 

Over the past three years, he has ventured into football club ownership, beginning with the Palace investment. 

In 2022 he became a shareholder in the Belgian second-tier team RWD Molenbeek, a stake in Rio-based Botafogo soon followed, before acquiring a controlling interest in Lyon buying a 77.49% stake in the club. 

The Eagle Football website boasts that Botafogo have been promoted to the top tier, alongside that there have been significant revenue increases such as a £5.4 million rise in sponsorship. 

Yet Botafogo were overtaken by Palmeiras for the Brazilian title after a huge lead was surrendered, and Textor was recently found facing a six-year ban from Brazilian football after making claims that match-fixing was the reason why his club had lost the title.

As for Lyon, Eagle Football has again asserted that the club has made financial gains with a 26% revenue increase. 

Although Textor’s time as the Lyon owner has been turbulent - last season’s manager was fired within the first four months of the campaign and at one point they were bottom of Ligue 1, which they won seven times in a row up to 2008.

However, after the appointment of Pierre Sage as head coach last season, Lyon recovered to finish in sixth and qualify for the Europa League. 

Bloomberg has previously said that Textor’s football operations were worth around £780 million and his technology background would point to Textor having considerable funds to make Everton great again. 

Everton have made a surplus on transfers during the summer, with the sales of Amadou Onana to Aston Villa for £50 million and Ben Godfrey joining Atalanta for £10 million. 

Loan deals have been what manager Sean Dyche has mostly had to work with, and his most expensive signing has been just the £17 million outlay on Jake O’Brien from Lyon. 

It’s a situation that has contributed to a disastrous start to the season, with the capitulation against Bournemouth conceding three goals inside the final ten minutes at home in front of their own fans, leaving Everton at the foot of the Premier League table. 

Everton are rock-bottom of the league after three rounds
Everton are rock-bottom of the league after three roundsFlashscore

Rob Wilson, a Professor of Applied Sport Finance at the University Campus of Football Business, said that a Textor takeover would be: “A potential new dawn after the issues surrounding the Moshiri ownership and the poor financial planning seen, leading to breaches in PSR.”

He told Tribal Football: “The US billionaire appears to be a shrewd football investor, with stakes at several other clubs, including Crystal Palace, that will need to be sold, so he knows his way around the football landscape.

“The issue with his stake in Palace will need to be resolved until any takeover is ratified by the EPL.

“This too will take some untangling, with many reports suggesting that another US group have had a £100m bid for said stake turned down.

“Overall though expect better cost control, and ultimately an improvement in general sporting performance.

“He is certainly the best option that we publicly know about, and the sale price must meet his expectations.”

Another lingering issue over the protracted takeover is the £200 million loan from US investors the Friedkin Group, who also are the owners of Roma

The group were interested in taking over the club, but eventually, negotiations broke down, and on July 19th, Everton released a formal statement to confirm that buyout talks had not progressed, in what was another exclusivity period of discussions. 

The £200 million was used to pay off a £158 million loan to MSP Sports Capital, and debts to two local businessmen, the statement said that the Friedkin Group “will remain a lender to the club.”

It’s a situation and a significant amount of money that is sure to be an issue for any prospective buyer of the club. 

Professor Wilson continued: “It will need to be settled as part of the takeover. Given the link to the new stadium, it makes the takeover more complicated and it will take several months to untangle.”

“I would expect a resolution, though these negotiations are never easy.”

The new stadium on the Bramley Moore Dock, situated in what is a picturesque setting on the banks of the River Mersey that is set to open in the 2025/26 season dangles a significant carrot to any potential owner. 

There will be several new revenue streams created which will be commercial upgrades compared to what is offered at Goodison Park. 

Already the seasonal memberships on offer for the stadium’s bars, restaurants and general stadium experiences have sold out. 

Yet recent accounts from the club released in April revealed that the project has yet to receive full funding. 

“The club is also continuing negotiations to secure the next stage of funding for the Bramley-Moore Dock development for the new stadium. 

“Various options are being explored, however, the club has yet to secure legally binding facilities as of the date of approval of the financial statements and this facility is not yet guaranteed,” stated Wilson.

What's more, the accounts for the Everton Stadium Development Limited, a subsidiary company owned by the club, up to June last year revealed that its current net liabilities had increased to just under £454.1 million from £228.5 million in the 12 months up to June 2022, highlighting how the costs for the development are rising. 

Professor Wilson is still optimistic about the effect the new stadium has on attracting investors: “It makes the takeover more attractive. Everton have long needed a new stadium and the development will accelerate the club's ability to compete, financially at least, with some of the league's powerhouses. 

“Their support is paralleled with the likes of neighbours Liverpool and North West rivals Manchester United. 

“A full house, on a regular basis will provide the club with a significant uplift in match day revenues, and present a host of new commercial opportunities.” 

On and off the pitch Evertonians will be hoping for a brighter future.

France gouvernement

Les jeux d’argent et de hasard peuvent être dangereux : pertes d’argent, conflits familiaux, addiction…

Retrouvez nos conseils sur joueurs-info-service.fr (09-74-75-13-13, appel non surtaxé)