Everton deny Textor is in town to meet with Moshiri

What is concerning is that every man and his dog seems to have a piece of the new stadium, albeit via loans given by 777 and Friedkin.

High finance is way beyond my understanding, but I get the feeling that those money guys have already claimed their piece of the pie, how that impacts on the club, financially, going forwards is anybody's guess.

I can't post the Link as I've used up all my free Guardian articles.

Unfortunately, I don't believe a word of it.

John Textor agreement over Everton takeover expected by end of week

No real detail as yet...

Why not?

He's just bidding his time.

The last paragraph concerning multi-club Ownership is interesting.

I can see the advantages of that but will only work for us if we are the Main Club in the chain.

Textor coming into the mix is something he probably didn't expect. He'll probably have to make his move soon to get the club though.

''Textor, whose Eagle Football Group already has stakes in Lyon, Botafogo Molenbeek and Crystal Palace, is understood to have arrived in London on Tuesday before travelling to Liverpool on Wednesday to meet Moshiri, with sources close to the deal anticipating that it could be agreed in the next few days.''

One little thing puzzles me. Why would Textor travel to Liverpool to meet Moshiri? — I mean, when was Moshiri last in town?

I don't want him back in.

The Club is Headquartered at the Royal Liver Building.

I'm sure he can afford the air fare and a night in the Titanic Hotel if there is a deal in it!!

But I still find it surprising that Moshiri actually set foot in Liverpool!!

He's worth close to $4B. I'm sure that's plenty enough to buy us.

Friedkin is worth around $4B but if it is all due to the value of his current business assets and he has (relatively) little cash, he still has to find some way of raising the required cash, eg, either sell off assets or take a loan. Obviously the same applies to Textor or any other bidder.

I do wonder if it is the levels of cash required to acquire and keep the club going that has been the problem with any deal rather than the net worth of an individual.

On a serious note, I hope he brings his manager Oliver Glasner with him, I really rate him as a manager. He knows his shit and tactics, won't be at Palace for long, someone will snap him up, hopefully Everton.

Just read that. Unfortunately I don't believe a word of it.

Well, that's the end of that then.

But I still find it surprising that Moshiri actually set foot in Liverpool!!

He attended a board meeting, Allen, it's been widely reported.

You might want to look into that Stephen.

The Guardian has no limit on free articles (for me at any rate!) but reminds us of that and the value of contributing something to retain high-quality independent journalism.

John Textor is in Liverpool to hold further talks with Everton's owner, Farhad Moshiri, over a proposed takeover of the club, with a deal expected to be agreed by the end of the week.

The American billionaire became the third party to be granted a period of exclusivity by Blue Heaven Holdings, the company that owns Everton, last week after renewing his efforts to purchase a majority stake in the Premier League club having initially been overlooked by Moshiri in favour of the Friedkin Group.

They had agreed to buy Moshiri's 94.1% stake but withdrew over concerns about the legal uncertainties surrounding the £200m in loans that 777 Partners, the first company to agree a takeover back in September, gave the club. It is understood that a £200m loan made to Everton by the Friedkin Group during their attempt to take over the club is due to be repaid

Textor, whose Eagle Football Group already has stakes in Lyon, Botafogo, Molenbeek and Crystal Palace, is understood to have arrived in London on Tuesday before travelling to Liverpool on Wednesday to meet Moshiri, with sources close to the deal anticipating that it could be agreed in the next few days.

The terms are the same as in the offer made on 1 June in the previous round of bidding, with Textor understood to be confident that arranging a financing deal for Everton's new stadium at Bramley-Moore Dock could allow him to delay completing the takeover until as late as January.

A potential complication could be the requirement of Textor to sell his 45% stake in Palace in order to comply with Premier League rules. A bid from compatriots Josh Harris and David Blitzer, who already own 18% stakes in Palace, for around £100m is understood to have been rejected. Three other investors are believed to have expressed an 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.

Last week the Palace chairman, Steve Parish, said he would not stand in Textor's way after he paid £87.5m for a 40% stake in Palace in 2021 before extending it to 45% when he bought Lyon a year later. “He wants a club that plugs into that where he controls everything that happens. We don't think that is right for us as a club right now,” Parish told the BBC. “We do collaborate with his clubs where we can. He wants to go and do something else, we're helping him do that.”

Not happening, mate, because we've been told by one or two on here that it's all rubbish!

For what it's worth, Paul Quinn aka The Esk, doesn't believe that Textor will become Everton's new owner.

In his reply to a post from Colin (Hopefully not Chong) on X, asking him if he believed Textor would be a good owner, Paul replied "No & he won't be our next owner."

I think the ownership and leadership at any institution is very important and it cannot continue to be up in the air for much longer — even though it's already gone on for what is it? 18 months or more.

I suppose technically it could go on like this for years, but the damage that has already been done and might be done in the future, dwarfs the issues of any given match-day.

I know something will happen, I just don't know who and when.

Actually the Esk called out when we were overspending.

He said that 777 Partners would never take ownership.

What's he actually been wrong on, mate??

This is a such non-story — must be a slow day!

I have come across businesses that lender swere quite happy with, because their loans were being paid and secured. The owner were just working for a wage and some cases for nothing.

In Everton's case, the lenders are not interested in taking over the running of the Club. Directors are well renumerated and those working for the Club are still in jobs and getting well paid. Why would anyone want to change things?

The Esk has been right all along and backed it up with evidence.

I suspect many of us are becoming weary of the whole process but, until someone does buy us and take control, we will just limp on.

Worryingly though, if our form doesn't improve and if we remain at or near the bottom of the table, who will act to remove the manager and who will choose his replacement? Maybe by a poll on TW. (What possible chance of agreement !!?)

Now there is a whole new debate. Aaaarrrghhh!!

In addition to the many things we as a club can't do well, it seems we can't even sell a football club efficiently. Among my friends, we have become a laughing stock as a club. Once we used to strike fear into opponents, now I get patronising smiles…

Then, on to the next rumour!

Item 1, What's happening about the sale of the club?

Moshiri — "Not much."

Item 2. Will the new ground be ready?

Moshiri — "I bloody hope so. I want my money back."

Item 3. Is Sean Dyche right for us?

Moshiri — "I'm not paying him off, so yes."

Item 4. What happens if we are relegated?

Moshiri — "Well, I won't be going to Uzbekistan. I can tell you that!"

Derek, I was a decent right back in the day. Maybe I've got a chance?!!

This is true for most of the local and global fanbase, and we don't have hundreds of millions of pounds invested in them!

Instead, they seem to be developing a less respectable record for unearthing shit bombs and hurling them out there as world exclusives, then ducking and hiding, never of course to provide any follow-up — let alone an apology or correction!

There's a much more balanced article in The Telegraph this morning but it's behind a paywall. Still, I think worth adding to the news archive as a web story…

Apparently the couch that Bill hid the Arteta money in has been put up for auction, I know that because the couch has supposedly got a £1M starting bid on it.

Bill didn't tell his wife about the cash-laden briefcase but somebody knows about it. Hang on… that's why Textor is in Liverpool — he's not bidding on Everton, he's bidding on the couch!

I read Guardian articles, but I've never forgiven them for the Snowden leaks and the damage it did to national security. Irresponsible journalism to grab a headline.

Mr Moshiri even got up to give a song, Kareoke night, he sang “Money is the root of all evil” and got a standing ovation, after which Textor got up and did a magician's act — Now you see it, Now you don't!

Well if the press can print stories, so can ToffeeWeb — and that's free, Michael!

(It's not the best league!)

I was listening to a supposedly financial expert regarding football clubs and he was suggesting that Moshiri and Everton would be okay till November — why November, I don't know, but then the club would come under serious pressure financially.

He went on to say at that point Moshiri has to have sold the club or was willing to pump in more of his own money, which seems a complete non-starter. So, if we don't have a new owner by November and Moshiri doesn't put anymore money in… he didn't say what alternatives there would be facing the club.

I don't think Textor or any of the others have stood out as a perfect leader of this football club.

Ideally we need a country to take us over like what happened at Newcastle.

We need propelling on to a new level — not just status quo.

The Premier League money came in last month and is reckoned to help the club's cash outflows until November when, with reduced funds available, we will be unable to meet our obligations without further loans or investment.

But we do have belief and hope. UTFTs!

It would've made sense to meet him in London where Moshiri has a dwelling — and I assume Textor does as he has Palace shares.

No offense Si, but Quinn is pretty much always right.

He got played by his sources a couple times last Summer regarding MSP's exclusivity and Kenwright's stepping down at Chairman. Which spawned comments like yours ever since.

But his discussion on the Club's financial situation have been, and remain, excellent.

Crystal Palace takeover: John Textor's Eagle Football submits final bid for club

The offer has yet to induce a response, which Textor fears means it will be knocked back — but that would leave open a possible Everton deal.

We have stayed afloat up to now using loans from would-be new owners who then got off at Edge Hill for one reason or another.

Is Textor the next one to be snared by Moshiri?

A loan to his Brazillian club Botofogo:

"Brazilian media report that Botafogo's financial accounts show the club took a loan of R$333 million ($68.4 million) from XP Investimentos in 2023, listing it as working capital.

Part of the money was transferred to Belgian club RWD Molenbeek, one of the other clubs in the Eagle Group portfolio of the Eagle Group. The Rio club also borrowed from Money Plus (R$20 million) and from Brazilian bank Daycoval (R$16.9 million).

“The loans were obtained with the aim of providing working capital support to the company, thereby ensuring its ability to operate effectively and meet its financial obligations,” said the accounts.”

Plus, what exactly is wrong at Palace that having just bought in, Textor's group wants to bail on that club? I have to think he's not chasing glory, he's chasing money.

So while Textor might not be have the outright "Fuck the consequences" financial approach of Josh Wander, I am in agreement with the ToffeeWebber who, in another Textor-related thread, referred to him as a "chancer".

On Paul the Esk. He started a Podcast and Site on Everton which probably was a natural develop on his writings in the Tech Age. I bet he never expected his interest in Everton's Finances to develop a illustrious International Media following looking for expert sources.

He tried to give us as best a insight into Everton Finances and like his fellow fans has been trying to develop a picture of what is going on, on limited information and dare I say it the bane of available information,Fake News.It also appears that lazy journalism consists of using AI, with no checks.On top of that we have click bait, X and a Media Rumour mill. Paul took ill with the stress of it.

When one is trying to provide concrete information one is puttings ones head above the parapet against this backdrop. If you are a Editor you have to come from a sceptical perspective, until you are sure of the information.

So rather than attack Paul the Esk, I think we should be showing some consideration of the pressure he is under and be grateful for the information he provides, which is very informative.Of course it would be better that things went ok, but they haven't been.

“In light of recent reports, which we believe may be well intended, but are still inaccurate or imprecise, we feel compelled to clarify our intentions as current owners of Crystal Palace Football Club, for the benefit of its community, and for the benefit of the Everton community which may be affected by these reports.”

“We can confirm that we are interested in selling our interest in Crystal Palace, largely so that we can pursue a relationship with the Everton club and community. Several months ago, we hired Raine Group to begin the process of evaluating alternatives, as we were considering two very different alternatives, at that time, either a purchase of a majority interest in Palace or an outright sale."Since the beginning of our investment in 2021, and our initial 40% purchase, it had always been my intent to purchase a majority interest in the Club. I was invited to buy a majority interest, at that time, and I have often regretted not doing so previously.”

“We have continued to be the lead investor in the Club, with significant investments being made in the Spring of 2023, and again in the summer of 2024. Though we have been able to increase our percentage ownership of the club, and we remain the largest shareholder of the Club, we still have yet to acquire a majority interest. The Club remains governed in the same fashion today, as it was in 2021. We are one of four principal partners of the club, and we all have equal rights of management, control and governance.”

“As we now look to another adventure, we remain proud of our contributions to the Crystal Palace club and community. Our capital and our daily contributions helped to repay the debts that amassed during COVID, to complete key milestones of Academy improvements, to reduce the average age of the squad, and to recruit many of today's most impactful players. We even helped to establish and build a relationship with our impressive new coach. In short, while we do not enjoy the same level of collaboration that we have with our other Eagle Football clubs, we are proud of Crystal Palace as an example of the positive contribution that we can make to a football club and community.”

“So, as I am now being asked to explain our view of continued ownership, and our contemplation of both 'buy' and 'sell' scenarios, I can only say that the decision has been as confusing for us, as it must be for the fans to decipher the limited and inaccurate press reports. It's confusing, because it's emotional. How could anyone not love Palace? I showed up in 2021, as a private investor, with only my wife and kids as partners.”

“We attended games as a family, home and away. We enjoyed some great wins, against some big teams, and watched some great wins slip away at the death… and along the way, even though I wasn't able to hit the pubs with fans, as much as my two boys did, I always looked forward to hearing their stories of the ‘away days' (like nearly getting thrown off of a bridge for wearing Palace colors away at Forest, before getting dragged up by the neck by three older Palace fans). We have enjoyed every last moment as Palace fans. And long before our multi-club collaborative model began to develop, and we started to develop relationships with other communities, we were already enjoying our heavy contribution to a partnership that worked well enough together to preside over significant improvements and heightened ambitions.”

“So, what started as a ‘pretty neat thing to do in retirement' became an overwhelming passion for a club and a community that my family (and ultimately my new partners) grew to love, a community that really deserves to raise a Cup.”

“Ultimately it became obvious that our model of collaboration was working well. If we believe that each of the communities within our family deserve to win championships, then it is clear that we are having success. In Belgium, we quickly achieved success (probably too quickly), raising a Cup, achieving promotion into the First Division, where we hope to return again soon.”

“In Brazil, we acquired a bankrupt club, emerging from Serie B in 2022, and we are now on top of Serie A, and beating the greatest clubs of Brazil in our main competition and in Copa Libertadores. "In France, we assumed roster control in the summer of 2022, suffered for 15 weeks in ‘dead last' of Ligue 1. We were given no chance of avoiding relegation, but we improved our chances in one collaborative transfer window, becoming the number one team in France during the last half of the 2022/23 season. Even more surprising, to others, is that no team in history, in France, had ever escaped relegation with only seven points after 14 games — but we finished in sixth place and qualified directly for Europa League. Collaboration works, for all of the clubs and communities in our family.”

“This brings me to the point, as it seems well past time for me to clarify our intentions, as real people in real communities are impacted by misinformation. Yes, we have been evaluating alternative relationships in football to complete our family, to include a strong and collaborative UK community - but before we decided to leave one family, to join another, we did try to do everything possible to stay connected with the club and community of Crystal Palace. If supporters don't switch allegiances easily, owners shouldn't either.”

“It is true that we made an offer to buy the remaining shares of Crystal Palace, at a valuation that far exceeds levels of prior investment. We did so with a strong belief that Palace has become a much more valuable club, since 2021, and we respected our partners enough to offer fair value, regardless of circumstances.”

“It is also true that our offer did not induce a response, and we believe that our Palace partners have the same desire to remain in ownership as we once did… so our Raine Group efforts to sell our interests resumed. We have a significant number of parties active in our process, we have received strong indications from qualified buyers, and we believe strongly that we can complete a sale of our interests to continue moving forward with the next community we hope to serve, embrace and enjoy.”

“We have no expectation of immediate acceptance as we show up in a new town, with Palace gear stored in our trunks, and memories that we will cherish forever (though May 19, 2022 will just have to be one of those memories that now can go both ways!).”

“Trust is not earned quickly with supporters, but I do believe that we are uniquely qualified to serve and deliver results, and I do believe that it is more likely, than not, that I will be referring to a new club and community as ‘my club', sometime soon. Only time will tell.”

Premier League ‘Fit & Proper Person' test: auto pass

Aspiring Everton Buyer's ‘Absolute Mad Bastard' assessment:

Link

Can't help but think that if the Friedkin sale had gone through we might be having a more productive end to the transfer window.

Look beyond the verbal diarrhoea. This is the Du Pont family. It will be a black day indeed if they take control of Everton.

We are his Plan B.

Develop the relationship, become a part of the family, adopt the full identity, go through all the lows and the highs…

But, if you don't get what you really want (total control), then cut and run, find a new home, rinse and repeat.

No depth, no lifelong commitment, just rampant opportunism.

That hands off approach has worked so well for Moshiri!

If this statement from Mr Textor is even half true, I hope we go with him rather than Friedkin. He's got runs on the board with Palace in the Premier League and he appears to show some desire and not cold, passion free approach.

Either would be so much better than neither, IMO.

Just hope it is done quickly so that we can be ready to storm up the rankings at the very least in the January to May games.

Other Board Members at Crystal Palace will not let him take over the club. That is why he is trying to sell his stake, no matter what he says.

Moshiri has spoilt the sale of Everton by not running the club right and not performing proper due diligence on purchasers. Proper due diligence was not done on Moshiri himself when he purchased Everton.

Everton's previous sale was amongst connected parties and was not a straight-forward deal. This was attempted again by Moshiri with 777 Partners. The only legitimate deal fell apart under due diligence, so we are back to connected parties and probably another loan from Textor.

Everton is now a notorious case amongst legitimate parties. So you are only going to get parties that are there for what they can get, which started with Kenwright.

Textor said as much in his own statement.

Be interesting to see how this pans out.

Unlike Moshiri, who we knew nothing about apart from he had no footballing business acumen coming into the club, Textor has experience. Whether it is the right kind and beneficial is debatable.

I get the feeling that he is in this for the ride. Unless Moshiri took a ridiculous loss, I can't see this happening. If it does, my concern radar would be looping loops like an RPM meter and smouldering to the brink of explosion.

I know, I am stating the obvious.

How it pans out. It is going to be more of the same this season. I hope that the 2023-24 Financial Results are better than I expect.

I now think it is up to the lenders. November will probably see Moshiri needing another loan. Moshiri is now a Zombie Owner and was probably a puppet throughout.

Not looking forward to Dyche's protracted turning of the corner. A false dawn on Saturday would be welcome. Everton is now a Zombie Club.

One thing that I can't understand is why Moshiri did not attempt to address the fallout of the New York court case when The Friedkin Group were going through due diligence. It would have got him off the hook if he had bothered. Total mismanagement.

Interesting.

I think a few have. As usual, the Echo are late to the party, with his lengthy and rambling 'statement' having surfaced 2 days ago (see #73 above).

It mentions Everton just the once.

He's playing a game of chicken with his pals at Palace. If they stand firm, he's giving up on his first love of owning them and coming after us instead, as he knows he can get 94.1% control of Everton… if he can actually get Moshiri to sell his shares — that's of course after he's sold at least the bulk, if not all, of his Palace Shares.

[Premier League rules would allow him to keep any number of Palace shares (as long as it's less than 10%) and buy majority control of Everton.]

Either that or Moshiri stays on the pot and waits for The Donald to pardon Uncle Ussie.

With the RS having not yet spent a penny but raised about £60m from the sales of youngsters Carvalho, V.d.Berg and Clark - it really wouldn't surprise me to see them step up their interest in Branthwaite. He's exactly what they need.

It's a horrible prospect but both Branthwaite and DCL could yet leave - with only a few days to replace them and pad out the squad to cover the injuries.

It's early days, very early actually, but I already have a feeling that a lot of Evertonians want another manager. Although we might see better football, my worry is the squad is definitely way too fragile right now.

Sky New is now reporting this https://news.sky.com/story/everton-suitor-textor-to-file-plan-for-2-3bn-eagle-football-float-13203821

I hope this story appears this time as it may prove, if accurate, imprtant for us. Copy and paste the address into your browser.