19/09/2024 40comments  |  Jump to last

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.

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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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James Flynn
1 Posted 19/09/2024 at 23:05:09
I wish it wasn't Textor.

But he isn't Moshiri or 777, so I guess there's that.

Kunal Desai
2 Posted 19/09/2024 at 23:07:12
Needs to get done ASAP with his first port of call to get rid of Dyche.
Bob Parrington
3 Posted 19/09/2024 at 23:48:44
Kunal, I agree with you except do not immediately sack Dyche.

Well, hopefully by November we will have won some games!

Kevin Molloy
4 Posted 19/09/2024 at 23:58:35
The Du Pont family.

Lucky Lucky us.

Mark Taylor
5 Posted 20/09/2024 at 01:17:01
Kevin,

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...

Derek Knox
6 Posted 20/09/2024 at 01:18:09
Kevin, even more luck, in addition to having Dyche, Dumb and Even Dumber, Keane, Doucoure, Beto and Young?

We should be building something around this group… preferably a reinforced brick wall!

Does our luck have no bounds? :-)

Christine Foster
7 Posted 20/09/2024 at 03:49:24
I guess should Friedkin not put in a bid, I wonder what, if any, influence his $200M loan buys him in terms of any say in the sale or gives him first preference?

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.

Ajay Gopal
8 Posted 20/09/2024 at 04:39:54
I have a sneaky feeling that somehow Friedkin and Textor are in this together.

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?

Kieran Kinsella
9 Posted 20/09/2024 at 04:48:54
So this is based on what Textor told Myers?

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?

Jeff Armstrong
10 Posted 20/09/2024 at 05:43:04
Maybe Alan Myers is trying to smoke Friedkin out.
Danny O'Neill
11 Posted 20/09/2024 at 06:20:48
For those of us old enough, this is becoming as big a saga as who shot JR Ewing in the TV series Dallas.

Please just resolve it and soon.

Christine Foster
12 Posted 20/09/2024 at 06:43:35
Danny, it was all a dream.

Who plays the Poison Dwarf?

John Keating
13 Posted 20/09/2024 at 07:14:46
If Friedkin stepped back because of the 777 loan, and many financial experts support his view, what gives Textor the idea a deal is not only possible but also imminent?

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…

Kunal Desai
14 Posted 20/09/2024 at 08:02:15
Danny @11,

That was resolved – was that not Sue Ellen's sister? I still think it was Cliff Barnes.

Phillip Warrington
15 Posted 20/09/2024 at 08:31:49
Heard it before, just waiting for the last minute hitch.
Paul Hewitt
16 Posted 20/09/2024 at 09:10:08
Alan Myers seems to think a deal is very close.🤞
Kim Vivian
17 Posted 20/09/2024 at 09:19:53
We need to wake up from a 40-year dream (nightmare?) and find out that it is really just 1984 with plenty to build on.

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.

Derek Knox
18 Posted 20/09/2024 at 09:29:44
Christine, just highlighted your last few words in final paragraph "and we certainly have no say in the matter."

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!

Nigel Scowen
19 Posted 20/09/2024 at 09:56:51
Ajay @8,

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.

Paul Hewitt
20 Posted 20/09/2024 at 10:02:36
It's on his Twitter, Derek.
Niall McIlhone
21 Posted 20/09/2024 at 10:03:17
Whilst being in many ways encouraged by Textor's focus on acquiring the club, I am also curious as to why he is making such bold statements of intent when he first has to dispose of his shareholdings in Palace, negotiate the complex minefield of debt around Everton, and of course satisfy the Premier League of his fitness to own the club?

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…)

Mike Hayes
22 Posted 20/09/2024 at 10:45:39
Just be our luck if it was the scene in Dallas that Bobby came out of the shower to be surprised by Kenwright!
Alan J Thompson
23 Posted 20/09/2024 at 11:35:28
If this is delayed by the Premier League having to give approval and Textor having to sell his Palace interest can we claim a Man Utd type PSR takeover allowance?

Tangled webs and all, eh.

Niall McIlhone
24 Posted 20/09/2024 at 12:22:22
Very good point, Alan (#23)
John Raftery
25 Posted 20/09/2024 at 12:43:57
The words ‘confident he has a buyer for his shares in Palace' are key.

Unless that happens, everything else is irrelevant.

Peter Hodgson
26 Posted 20/09/2024 at 14:05:34
Just noise to keep the pot bubbling.

Anyonre believe it?

Derek Knox
27 Posted 20/09/2024 at 15:05:33
Just been reading about another possible 'spanner in the works', I hope it's not verbatim, that 777 are suing Leadenhall Capital which will not only delay, but possibly derail any current progress:

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.

Martin Berry
28 Posted 20/09/2024 at 16:24:35
I like this man's enthusiasm; he seems to have a real interest in football and Everton.

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.

Nigel Scowen
29 Posted 20/09/2024 at 16:33:39
Martin @28,

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.

Steve Brown
30 Posted 20/09/2024 at 17:23:49
Nigel, that is fair enough when he owns the club.

He doesn't at present.

Pat Kelly
31 Posted 20/09/2024 at 17:49:46
So there's only the following issues yet to be resolved:

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?

Jay Harris
32 Posted 20/09/2024 at 18:27:57
Pat, I am guessing he has already agreed heads of terms with Moshiri, he says he has the finance in place and his shares in Crystal Palace with 2 buyers lined up for when he pushes the button.

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.

Jerome Shields
33 Posted 20/09/2024 at 18:40:24
My opinion is that Moshiri would sell Everton to anyone with two pigs and Textor will brief that he has bought Everton even if he has trouble rounding up the two pigs.

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.

Fred Quick
34 Posted 20/09/2024 at 19:10:16
Jerome @33

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!

Sean Kelly
35 Posted 20/09/2024 at 19:50:48
Jerome, maybe your man off Green Acres could do the deal. His one pig and a promise from Eva Gabor would swing it.

I know I'm showing my age.

Dale Self
36 Posted 20/09/2024 at 20:01:36
Well, the fucking pitchforks are out, why not?!?
Jerome Shields
37 Posted 21/09/2024 at 00:33:27
Fred & Sean,

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.

Peter Hodgson
38 Posted 22/09/2024 at 11:57:13
Jerome @33.

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.

Peter Hodgson
39 Posted 23/09/2024 at 09:40:11
According to Myers, Textor has said, that once terms have been agreed, we will "begin the process of putting the finances in place, acquiring Premier League approval, and selling his stake in Crystal Palace".

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!

John Raftery
40 Posted 23/09/2024 at 22:45:26
What a load of nonsense this proved to be.

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