A deal involving John Textor and his backers to complete a takeover at Everton could be agreed soon, according to Sky Sports correspondent, Alan Myers.
Sky's northwest correspondent, who interviewed Textor for the broadcaster last week, tweeted late this evening that the Missouri-born billionaire is close to an agreement with Farhad Moshiri to acquire his 94.1% stake in the Club.
Myers said that once terms have been agreed, Textor will "begin the process of putting the finances in place, acquiring Premier League approval, and selling his stake in Crystal Palace".
Textor's Eagle Football Holdings own 45% of the South London club and he told Myers last week that he is confident he has a buyer for his shares in Palace which would free him up to purchase Everton, hopefully before the end of November.
His proposed deal for the Blues is not being conducted through Eagle but will be a transaction made outside of that group, supported by Aliya Capital Partners along with other as-yet unnamed backers.
Meanwhile, the legal battle between 777 Partners and Leadenhall Capital took a new twist with 777 Partners filing a lawsuit in Florida that focuses on the activities of their former IT Chief, Noah Davis, who works for forensic accounting firm SAIPH Consulting.
The 777 Partners suit against Leadenhall alleges that Davis, who left his role with 777 back in April, broke into offices of SuttonPark Capital, an affiliated 777 Partners company founded by the company's co-founder Steven Pasko, and stole laptops, as well as accessed the systems of 777 Partners. The suit does not specify what information was taken by Davis and to what degree it would have been beneficial to Leadenhall Capital in its own case against 777.
The court filing read: “Because of Davis’s knowledge of Plaintiffs’ (777 Partners) computer systems and his unauthorised grant to himself of administrator-level access, the full extent of his activities within 777 Partners’ systems, including the actual number of illegal incursions, what information he may have reviewed, copied, altered, or otherwise interfered with, and for what purposes, is not, and may never be, fully known.
“Additionally, not satisfied with merely making virtual incursions onto Plaintiffs’ property, Davis was later captured on video surveillance cameras breaking into SuttonPark’s offices, without permission, and stealing several laptop computers belonging to 777 Partners, likely to further access whatever confidential and propriety information belonging to 777 Partners he might find therein.
“SAIPH subsequently confirmed in writing that Davis had engaged in this improper physical access. Moreover, in doing so, SAIPH intriguingly let slip the involvement of Leadenhall by referencing it by name in the first version of this correspondence sent to 777 Partners’ counsel, before quickly sending a second version that was otherwise substantively identical but for removal of the reference to Leadenhall.”
Reader Comments (40)
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2 Posted 19/09/2024 at 23:07:12
3 Posted 19/09/2024 at 23:48:44
Well, hopefully by November we will have won some games!
4 Posted 19/09/2024 at 23:58:35
Lucky Lucky us.
5 Posted 20/09/2024 at 01:17:01
I don't think he is a close family member, quite distant, and is basically a self-made man, for better or worse. A richer version of Moshiri, a couple of billion, but without the attached Uzbeki.
I think most of the money to buy us will come from his private equity chums...
6 Posted 20/09/2024 at 01:18:09
We should be building something around this group… preferably a reinforced brick wall!
Does our luck have no bounds? :-)
7 Posted 20/09/2024 at 03:49:24
I think he would be a cleaner and more professional owner than Textor but, at this point in time, I doubt beggars can be choosers and we certainly have no say in the matter.
8 Posted 20/09/2024 at 04:39:54
Maybe Textor gives Friedkin equity for his loan, thereby reducing cash outflow?
Or Friedkin is buying out Textor's shares in Crystal Palace? Who knows?
9 Posted 20/09/2024 at 04:48:54
Textor said last week he hasn't been able to view all our finances as he currently owns Crystal Palace so is this proposed “agreement” like the one Friedkin had that fell apart once he delved deeper?
Or is it worth even less since he said himself he's in the dark to a degree as an owner of a rival club?
10 Posted 20/09/2024 at 05:43:04
11 Posted 20/09/2024 at 06:20:48
Please just resolve it and soon.
12 Posted 20/09/2024 at 06:43:35
Who plays the Poison Dwarf?
13 Posted 20/09/2024 at 07:14:46
Is this 777 loan just an excuse to get a better deal from Moshiri?
I did talk to someone whose firm was engaged in the Friedkin exclusivity deal and was told it was a definite no. Such a murky set-up from all sides…
14 Posted 20/09/2024 at 08:02:15
That was resolved – was that not Sue Ellen's sister? I still think it was Cliff Barnes.
15 Posted 20/09/2024 at 08:31:49
16 Posted 20/09/2024 at 09:10:08
17 Posted 20/09/2024 at 09:19:53
It would be interesting to know Textor's or Friedkin's candid views on the state of Everton – particularly the playing side – but we never will. It's all soundbites and PR talk.
18 Posted 20/09/2024 at 09:29:44
That is so poignant, not only regarding the Textor, Friedkin, or whoever possibilities apply that to that last 30-odd years (hypothetically) and we certainly would not be in the mess we are in now.
I know we as fans don't always agree but, if a majority of dyed-in-the-wool supporters had advised, or had some input even, things would have been so, so different.
Danny, Dallas? I haven't got past, or over, The Beverley Hillbillies, possibly the best the Yanks have ever done and that is over 60 years ago! The rest has been utter shite or mostly, but all dated now and is even more shite, in this reality/non-reality orientated world of home entertainment.
Paul H @16, Naughty, naughty, you have been looking at that crap Goodison News again! Smack yourself hard on the back of your legs! :-)
Getting back to the Textor, Friedkin Soap Opera, I do wish they would reveal who the real winner is!
19 Posted 20/09/2024 at 09:56:51
Wouldn't that be something if they teamed up together, Friedkin's business acumen married to Textor's contacts, a marriage made in Walton.
Trouble is they both want to be the Alpha Male.
20 Posted 20/09/2024 at 10:02:36
21 Posted 20/09/2024 at 10:03:17
Maybe Ajay (#8) is on to something here? The return of The Friedkin Group to the table was not entirely unexpected, but is it just possible that John Textor is acting as a catalyst to get rid of Moshiri and somehow resolve the 777 conundrum with some sort of discreet brokerage, leading to medium-term gains for both parties?
Anyway, the new stadium is looking great, surely that in itself is cause for hope? I ask myself whether any credible investors would be interested in acquiring Everton FC if our forseeable future was consigned to playing at a decrepit Goodison Park? (Much as I love the Old Lady…)
22 Posted 20/09/2024 at 10:45:39
23 Posted 20/09/2024 at 11:35:28
Tangled webs and all, eh.
24 Posted 20/09/2024 at 12:22:22
25 Posted 20/09/2024 at 12:43:57
Unless that happens, everything else is irrelevant.
26 Posted 20/09/2024 at 14:05:34
Anyonre believe it?
27 Posted 20/09/2024 at 15:05:33
Fresh twist in 777 Partners court battle that impacts Everton takeover talks
Mind you, it is the Red Echo, but possibly no smoke without fire! Moshiri, has only himself to blame, if it goes tits up, being greedy (again) at the whiff of a backhander. I think many of us would love to give him a back hander ourselves… but not the financial type.
28 Posted 20/09/2024 at 16:24:35
He has come forward to tell people and fans his plans and hopefully, should he become owner, keep us in the picture. Something that has been sadly lacking from the current owner.
29 Posted 20/09/2024 at 16:33:39
Ditto, quite refreshing. Some have challenged the hands-off approach to communication from Moshiri et al but this guy seems at least to recognise that the fans also deserve to be kept in the loop.
30 Posted 20/09/2024 at 17:23:49
He doesn't at present.
31 Posted 20/09/2024 at 17:49:46
Reach an agreement with Moshiri;
"Begin" the process of putting the finances in place;
Sell his stake in Crystal Palace;
Acquire Premier League approval.
Did he say by the end of which November he expects all this will be completed?
Is he trying to give any other potential suitors the impression he already has this in the bag?
32 Posted 20/09/2024 at 18:27:57
One would imagine he already has approval from the Premier League due to his 45% holding in Palace, so all they have to do is approve the deal and I'm sure they will be glad to see the back of Moshiri.
I see the end of November as realistic.
33 Posted 20/09/2024 at 18:40:24
I would far prefer a substantive cash buyer with access to finance based on an ability to run a self-financing business, than someone looking for a business line of credit with a flexible long-term loan conversion facility.
Textor appears to be even worse in that he appears to be using the potential purchase of Everton to drum up finance as 777 Partners have attempted before.
If Textor's shares in Crystal Palace are security for his Italian investment, then he will need additional replacement finance to purchase Everton shares.
I am just looking for an end to over 30 years of bullshit, but I can't see it.
34 Posted 20/09/2024 at 19:10:16
Which buyer's not a blert
Bramley Moore is gleaming
Thirty-years of dirt
Owners keep on scheming
I'm going home, I'm going home, everyone's going home!
35 Posted 20/09/2024 at 19:50:48
I know I'm showing my age.
36 Posted 20/09/2024 at 20:01:36
37 Posted 21/09/2024 at 00:33:27
I guess I am thoroughly sick of promises with no financial wherewithal and an owner who could not sell Holy Water with the Pope standing beside him.
I get the point of the new stadium. Ultimately exposing Kenwright, putting Moshiri in debt and danger from the Russian Mafia, bollocking up the Premier League, putting the wind up the government on regulation will be worth it, with a statue to Evertonians at the entrance for the angst and suffering they have put up with.
38 Posted 22/09/2024 at 11:57:13
I think we would all agree with your comments. The problem is that we can do sod all about it so we have to make do with what we get… again. The consolation prize is that, with luck, we get rid of Moshiri.
I have said before on here that I am doubtful about this chap even though his mouthing off says all the right things, he is currently giving the impression of all mouth and trousers and nothing more.
Additionally, if you look at what he is proposing, it seems based on gathering together a collection of disparate folk to fund the affair which means more debt (as if we haven't enough already). If they all (unnamed to date in the main) go through with it, all well and good. If one or more pull out, we are back to where we started once more.
I don't think, despite all the words that flow from Mr Textor, that he will deliver. So Moshiri will have to start again methinks.
39 Posted 23/09/2024 at 09:40:11
Am I missing something here. Surely that is arse about face. Won't Moshiri want to see that the finances are in place before agreeing anything? I certainly would. That way round it means that a deal completion, if one exists, won't happen until next year. So much for the November completion date!
40 Posted 23/09/2024 at 22:45:26
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1 Posted 19/09/2024 at 23:05:09
But he isn't Moshiri or 777, so I guess there's that.