John Textor

[Scott P]

Think this might be the one.

 

[Cjplennon]

Please make it stop!

 

[Scott P]

No and yes.

The very simple fact is that Textor cannot buy one single share in Everton until he has sold his entire stake in Crystal Palace… which he has been unsuccessfully trying to sell for at least two years.

Could he put his stake in Palace in a blind trust until it is sold?

 

[Exeter_Gently]

It’s what I was saying earlier mate, you always have to see where the money is coming from. It appears Textor or Eagle Group holding are no strangers to debt, in fact they borrow at rates higher or equal to our own which begs the question are they a serious upgrade on what we have- how do they intend to buy Everton, how do they intend to manage the debt and how do they intend to fund the business - the club has a liquidity and debt management issue and Eagle group seem to take out debt to manage liquidity - that’s not a good mix.

A little bit more digging showed that they bought Lyon for 300 odd million Euros, that money was borrowed and actually secured against their stake in Crystal Palace. So the group is holding a lot of debt with high interest payments. Despite the assets it has (like 777) it doesn’t seem to have the ready liquidity, so meet the shortfall with debt and a high rate of interest - not quite the sugar daddy some may think he is.

Personally, this makes no sense to me - it’s not logical - to the point that it can be true, for a few reasons.

1) The stupidest thing he could do is enter exclusivity with Everton trying to sell his Palace stake, no serious buyer will offer him what it’s probably worth - if they know he has a deadline and pressure to sell. Doing a deal for Everton collapses his Palace stake. If he has done just that - we don’t want him here.

2) The loan he has for Lyon is secured against his Palace stake - so that’s a mess.

3) They don’t seem to have the liquidity.

4) This hasn’t been confirmed by the club and if it is…..

5) Based on the above and timing I’m suspicious it may be cozy agreement between Moshiri and Textor, to gain notoriety, with the season starting Moshiri heads off any fan unrest and keeps the plates spinning, 3 months of the stadium completion. Ultimately ending with non completion.

The only way this works is if he has a buyer and a deal done for Palace but based on the above, not sure this is any type of upgrade on Moshiri, be likely more of the same.

Overall Textor wants to float Eagle group on the Stock Exchange, his motivation is he wants Everton as a historical brand to be part of that.

Topman

 

[Yarrgh]

Ffs, his own period of exclusivity.

 

[Jokerdan]

No one has a clue what’s going on behind the scenes.

For all we know Textor has buyers lined up for his palace shares. Just because you haven’t heard on a forum ffs.

He can be granted exclusivity by moshiri anytime moshiri wants. It’s a period for him to examine Evertons books before deciding to proceed or not. He only needs to sell his palace shares before buying evertons, this is with the Prem rules.

If he has any sense he'll head for the hills. And if he does proceed then I am far from confident he is the owner for us if some of the concerns of other posters and the recent summation of @Neiler are anything to go by.

 

[AndyC]

Could he put his stake in Palace in a blind trust until it is sold?

I very much doubt PL rules would allow that to happen.

 

[AndyC]

I thought the threshold was 30%. And couldn't he potentially get around the arrangement by putting them in a blind trust?

My understanding is that PL rules would not permit a blind trust scenario.

 

[AndyC]

Escrow account?

Nope.

 

[Kaiser Soysauce]

@davek seems positive. Welcome Textor!

 

[Kaiser Soysauce]

I very much doubt PL rules would allow that to happen for Everton

Fixed

 

[Kaiser Soysauce]

My understanding is that PL rules would not permit a blind trust scenario for Everton. This option is discretionary and will only be considered for teams that the PL actually likes/fears/taken bribes from.

Fixed

 

[D410]

Getting access to a data room via a signed NDA doesn't mean we are near even close to a deal at this stage.

 

[Damo_1878]

Just because something is unprecedented doesn't mean it can't happen. It was unprecedent for a state to own a football club at one point.

You and others have gone from saying its "normal" to saying "just because something is unprecedented doesn't mean it can't happen"

You sound ridiculous and desperate for this to go through

Rather than standing back and thinking is this the right thing for Everton?

Or whether this blocks better candidates with more liquidity and are unimpeded by owning 45% of Crystal Palace they have to sell first

 

[Nymzee]

Or whether this blocks better candidates with more liquidity and are unimpeded by owning 45% of Crystal Palace they have to sell first

Such as?