I heard first-hand what John Textor really thinks of PSR amid Everton takeover talk

American billionaire John Textor has already delivered a scathing assessment of the Premier League’s financial controls. Textor, according to reports, has entered into a period of exclusivity with Everton owner Farhad Moshiri over a potential takeover.

First reported by the Athletic on Thursday, Textor has emerged as a front-runner to become the next owner of the Toffees after the deal with the Friedkin Group fell through over concerns over the debt that the club had to 777 Partners in relation to its long-doomed pursuit of the club.

It is claimed that Textor has entered into a period of exclusivity to assess the club’s finances and work towards a deal, with the American having already spoken on his interest in acquiring Everton earlier this year. However, before any deal could be pushed through he would be required to divest his 45% shareholding in Crystal Palace, which has been up for sale since May. Textor also has controlling interests in French side Olympique Lyonnais and Brazilian club Botafogo.

The 58-year-old Missouri native, who came close to acquiring Newcastle United before they were taken over by the Saudi Arabian Public Investment Fund, has been an outspoken figure ever since arriving in football having made his fortune in the dot.com boom before investing in media and technology, including being the former executive chairman of streaming platform FuboTV.

One element of the English game that has not sat well with Textor is that of financial controls and the Premier League’s profit and sustainability rules (PSR), something which Everton know all to well.

The Toffees suffered two points deductions during last season for two separate breaches of PSR for the 2021/22 and 2022/23 accounting periods. Everton survived despite being deducted eight points, while another team who were deemed to have fallen foul of the rules which limits losses to £105m over three seasons, Nottingham Forest, also retained their top-flight status despite a four-point deduction.

Back in late February, Textor was speaking at the Biltmore Mayfair hotel in London for the Financial Times’ Business of Football Summit, an event where the ECHO were present.

During his stint on stage, Textor was quizzed on what he thought of PSR.

Said Textor: “I hear ‘what about sustainability or if a multi-club goes bankrupt?’ It’s the free market, clubs will be clubs and fans will be fans. There is always going to be somebody who will pick up a club.

“I’m an anglophile in my love of football, I’ve been watching small games here for years; Stockport County, Leyton Orient. Has this really been a problem that everybody’s going bankrupt? No. The biggest problem is the sustainability issue is a fraudulent issue.

“Somebody shows up and tells (Evangelos) Marinakis (Nottingham Forest owner), who is an incredible guy in terms of resources and assets, and says you got to fit your competitive club between this cap on revenues. ‘We know you have it, but we are worried about you, Mr Marinakis, don’t spend it! You lost £105m over the last three years so now we are going to put you back in the second division.

“Is that sustainability or is that anti-competitive behaviour?

“If somebody tops me out and says I can only spend 70% of revenues, but I’m already big and people love my brand all over the world, and I’ve got to find a way to put Crystal Palace against Erling Haaland, and if you have an injury, Palace, you don’t get to pull a £50m player off the bench, because you can’t afford to have that player on your bench,’ that is not sport. Is anyone really having fun with this?

“I think it would be great if someone like Sheffield United, one of the great champions of our past, had the chance to win the English title again. It’s broken.”

As a majority owner of Lyon and Botafogo, Textor has plenty of responsibility on his shoulders when it comes to delivering. So far, in the English game, he has been able to take a step back, but a successful takeover of Everton would all that change.

Said Textor: “From going to minority to majority, I feel a responsibility for Botafogo. When I arrived we had three players, the season was starting in five weeks in Serie A. We had to build a squad of 27 players and had to survive, two years later we almost won a championship.

“Lyon, the same thing, we had to reconstruct the process. I feel closer to the situations for which I am responsible.

“Then I get to show up at Palace games and watch my love of English football play out and I don’t really have hard decisions to make. I love the coach (Oliver Glasner). There I can be a fan.

“Every now and again you forget that you aren’t the majority guy and think ‘well I would have done it differently’. But isn’t that football? Don’t we all think we could do it differently?”

At Everton, if successful in his attempts to purchase Moshiri’s controlling stake, he will have that opportunity.