Crystal Palace co-owner John Textor makes new bid to buy Everton

The American billionaire John Textor has made a bid to become the majority owner of Everton, which could end the saga around the sale of the club.

The terms are the same as when Textor made an offer on 1 June in the previous round of bidding. If the offer is accepted, Textor will be the third party to enter a period of exclusivity with Blue Heaven Holdings, the company that owns Everton, in the past year. The Friedkin Group had agreed a deal to buy Farhad Moshiri’s 94.1% stake but withdrew after carrying out due diligence. The American investors were concerned about the legal uncertainties surrounding the £200m in loans that 777 Partners, the first to agree a deal, gave the club.

One complication regarding Textor’s offer is that he owns 45% of Crystal Palace and would be required to sell those shares to buy Everton, although he is confident his stake in the London club is much sought after. He was keen on Everton before the Friedkin Group was given exclusivity and has returned, with the Friedkin Group having not resurrected its interest.

Textor, who paid £87.5m for a 40% stake in Palace in 2021 before extending it to about 45% when he bought Lyon a year later, is understood to have held talks with another Premier League club and one in the Championship over a potential takeover in recent weeks. He is thought to be keen to make a profit on his Palace investment.

The Guardian understands that could rule out his compatriots Josh Harris and David Blitzer, who own 18% stakes in Palace but are believed to have offered Textor the amount he paid for his shares. Textor is said to have been surprised by their low bid after a successful period on and off the pitch that included Palace matching their highest Premier League finish of 10th last season, and with work having started on the new £150m main stand. That is likely to be financed in part by Michael Olise’s sale to Bayern Munich, and Marc Guéhi is also expected to depart as talks with Newcastle continue.

Three other investors are also believed to have expressed interest in buying Textor’s shares, including one from the Middle East and another said to be a sports-celebrity-backed group from the US. Textor is understood to be confident that arranging a financing deal for Everton’s new stadium at Bramley-Moore dock could allow him to delay a prospective takeover until as late as January.

His Eagle Football has invested in clubs around the world, including the Brazilian first division club Botafogo and Belgium’s RWD Molenbeek as well as Lyon. Textor has been looking to sell his Palace stake for a while to allow him to become a majority shareholder at another English club. He has looked at QPR and Watford in recent times.

Everton’s finances have looked perilous over the past two years and although the outlook has improved in recent months, a takeover is necessary to bring greater security as they head into their final season at Goodison Park.

Everton were docked eight points last season after breaching profitability and sustainability rules. This summer the sales of Amadou Onana, Ben Godfrey and the academy graduate Lewis Dobbin have ensured they are not at risk of further punishments this season. They have also been in a position to spend and last week signed the Irish centre-back Jake O’Brien from Lyon. Iliman Ndiaye and Tim Iroegbunam have joined on permanent transfers, while the wingers Jack Harrison and Jesper Lindstrøm have arrived on loan.