John Textor / Everton Takeover

[Stuartisitc1878]

I'm assuming the conditions both Friedkin and 777 had to meet in injecting cash into the club won't apply to Textor whilst he owns Palace? That would be a conflict of interest surely? So it's not a short term fix for Moshiri?

 

[Bedfordblue]

The exclusivity period should be 8-12 weeks normally, on the basis a deal has been agreed in principle.

Here, it seems it would last as long as Textor needs to sell his Palace shares.

Surely he anticipates selling them within the same period as it would take to conduct due diligence.

Nothing would suprise me with Mosh but that would seem an odd move even for him.
Textor previous said he dropped out because he wasn’t ready / able to proceed due to his Palace shares, so one would assume he has something lined up now if he’s now going this far.
If mosh is as desperate to sell as he’s supposed to be, he’s surely not going to tie his hands behind his back with an open ended exclusivity period.
Appreciate the 777 deal went on along time but that was essentially an agreed sale - if they ponied up the moolah.

 

[Damo_1878]

Did I ever say it was "normal"? Not sure I did so please retract that. I said it was comparable to other situations when a sale is agreed subject to certain conditions being satisfied. This would obviously be an unusual condition but it is necessary given the premier league rules. There's no way he is going to sell his shares in Palace without seeing what he is buying or knowing if he wants to buy it etc. That's living in cloud cuckoo land. To use your own language, it wouldn't be normal either for a seller to insist that a potential buyer sells one of it's assets before being allowed to participate in a DD process or gain exclusivity. When has that ever happened? I don't know anything about his bid. As someone who works in acquisition finance I'm just here to correct your misunderstanding of how the process works. If there was an equally viable bidder that didn't own shares in a rival club I'm sure they would be Mosh's preference but we are were we are.

It is normal in the Premier League as its literally the rules. If he owns more than 10% of a club he prohibited from acquiring shares in another club.

He needs to sell those shares first before acquiring shares in another club

 

[Damo_1878]

The exclusivity period should be 8-12 weeks normally, on the basis a deal has been agreed in principle.

Here, it seems it would last as long as Textor needs to sell his Palace shares.

Surely he anticipates selling them within the same period as it would take to conduct due diligence.

If he has gone into an exclusivity process with Moshiri without being fairly sure of the timescale of the disposal of his Palace holding, then he isn't serious about buying Everton and is treating the club with a certain disdain.

I do not see why he could not have waited until his Palace stake was sold. In the aftermath of TFG, there is not a queue of buyers so what difference would a few weeks have made?

Hence how stupid and nonsensical this is

It blocks other more viable bidders unimpeded by owning shares in another club

Leaves us in complete limbo

 

[Kevsleftpeg]

It is normal in the Premier League as its literally the rules. If he owns more than 10% of a club he prohibited from acquiring shares in another club.

He needs to sell those shares first before acquiring shares in another club

Is it normal for a seller to insist a buyer sells his shares before engaging with him? Do you have an example of that ever happening before?

 

[Damo_1878]

Is it normal for a seller to insist a buyer sells his shares before engaging with him? Do you have an example of that ever happening before?

In football the owners and directors tests prohibit it. These are sporting rules to prevent owners having undue influence in more than one team to undermine the competition

He shouldn't be even considered until he disposes his Crystal Palace shares. Pure and simple

 

[Zezti]

Olympique Everton ffs

Where's our sense of identity going??

Pies replaced by baguettes before the year is out.

 

[MikeH72]

Olympique Everton ffs

Where's our sense of identity going??

Pies replaced by baguettes before the year is out.

Moshiri has already stripped our identity away. It’s been gone for many years.

 

[Kevsleftpeg]

It is normal in the Premier League as its literally the rules. If he owns more than 10% of a club he prohibited from acquiring shares in another club.

He needs to sell those shares first before acquiring shares in another club

That's not quite true. If he owns more than 30% in one club he is prohibited from owning more than 10% in any other club. So if he sells down to 10% he can buy Everton.

 

[Zezti]

Moshiri has already stripped our identity away. It’s been gone for many years.

We're feeding the french. Let that sink in.

 

[Kevsleftpeg]

In football the owners and directors tests prohibit it. These are sporting rules to prevent owners having undue influence in more than one team to undermine the competition

He shouldn't be even considered until he dispose his Crystal Palace shares. Pure and simple

Again. They are rules that need to be complied with at the point of sale, not before. Your opinion on this is irrelevant because there is nothing in the rules stopping it. It's basically up to Moshiri. And whether or not it's a good idea from his perspective depends on information that neither you nor I are aware of so there's no point speculating.

 

[blueblue]

No it isn't

You're falling into the exceptionalism trap, that many Evertonians do

Reminder FFP when people were on here saying nothing would ever happen. Everton got a 8 point deduction

Check the vaults.

Claiming its "normal" is utter nonsense

I am not sure what you are talking about , I am talking about is that nobody can own or part own two premiership clubs.
If that statement is incorrect maybe you could point me to an example of somebody who does hold shares in more than one club.

Regarding the points deduction, posters were making guesses based on the information that was available which was far from complete.

The ownership model is a completely different issue and again we are working on snippets of information regarding John Textor and his bid to buy Everton.

I have no idea where that deal is at , who will be involved with him if any or how the deal will be financed if agreement is reached.

 

[GoldenToffee]

Olympique Everton ffs

Where's our sense of identity going??

Pies replaced by baguettes before the year is out.

Be fine with me that. Brie and cranberry baguettes at half time, sparkling wine instead of beer at the concession stands.

 

[MikeH72]

We're feeding the french. Let that sink in.

They will be feeding us. Mmmmm yum yum.

 

[Brisan123]

View attachment 269058

Which screen is the porn on