John Textor, the current majority shareholder of Crystal Palace, has recently expressed an interest in buying Everton. The development comes amid growing uncertainty surrounding the possibility of completing a takeover of the club from Farhad Moshiri of 777 Partners. This article delves into the latest developments, providing insight into John Textor’s football ownership journey and his possible move to Everton.
Teztor's net worth is estimated by netwealth.biz to be around £3.37 billion. Moshiri's projected net worth, according to the Sunday Times Rich List 2024, is £1.5 billion.
Motivation for Everton
John Textor’s interest in Everton is largely due to the ongoing troubles facing 777 Partners. Despite agreeing to buy Moshiri’s 94.1% stake in Everton last September, the Miami-based company has struggled to complete the deal due to Premier League approval issues. 777 Partners has also been embroiled in a $600 million fraud case and its Australian airline Bonza has been placed in administration. This, along with the sale of Belgium’s Standard Liege, has created considerable uncertainty.
Farhad Moshiri revealed to the Everton Fan Advisory Board that there had been interest from other potential buyers, including John Textor. Textor, who owns 45% of Crystal Palace through Eagle Football Holdings, sees an opportunity to expand his influence in the Premier League by buying Everton.
The Palace's Disappointment
John Textor's frustration at Crystal Palace stemmed from his lack of decision-making power. Despite owning a significant stake, Steve Parish retained a vote in the boardroom, limiting Textor's influence. This dissatisfaction prompted Textor to explore opportunities with other Premier League clubs, with Everton emerging as a potential target.
Public statement
In a candid interview with The Athletic, John Textor has confirmed his discussions about taking over Everton. He said: “Yes. [he has discussed Everton]. With the existing components – different groups, different creditors, different shareholders. I asked them: ‘Is there a way to clear up all this confusion and solve everyone’s problems?’ I’m very open to that but I don’t want to get into a situation where I’m not really welcome. I’m monitoring but 777 is still under contract.”
Textor emphasized his cautious approach, saying that while he is monitoring the situation, he is in no rush to acquire a new team. He acknowledged the complexities of owning multiple clubs in the same league and the need for a strategic shift if he were to leave Palace for Everton.
Building wealth
John Textor's financial background is rooted in technology and digital media. He is globally recognized for his work pioneering groundbreaking technologies and digital distribution models. Textor is the former executive chairman of fuboTV, a streaming service that holds the rights to broadcast major sports leagues, including the Premier League and NFL.
Textor’s notable contributions to Hollywood visual effects have further cemented his reputation. In 2012, his company Digital Domain created the groundbreaking hologram of the late rapper Tupac Shakur, which performed at the Coachella Music Festival.
Diversified investment
John Textor’s football portfolio is diverse. In August 2021, he bought a 40% stake in Crystal Palace for £86m, then increased his stake to 45% with an additional £30m investment. Textor also owns a majority stake in Lyon, initially buying 40% and then increasing it to 77.5% in December 2022. The Lyon acquisition is believed to be worth around £730m.
In addition, Textor is also interested in Brazilian club Botafogo and Belgian team RWD Molenbeek. His strategic investments in multiple clubs highlight his broad vision of football ownership.
Financial situation
Determining John Textor’s exact net worth is a challenge as it is not publicly disclosed. However, insights can be gleaned from his business dealings and those of his associates. Eagle Football Holdings board member James Dinan, founder of York Capital Management, is said to be worth £1.65bn. Co-director Alex Knaster is estimated to be worth £1.3bn in 2022.
Forbes' Most Valuable Soccer Teams 2024 values Crystal Palace at around £610m. Based on this figure, Eagle Football Holdings' stake is worth around £274.5m. Additionally, Bloomberg reported that Textor's football stake was valued at around £780 million during his investment in Lyon.
Future prospects
The future of John Textor's potential involvement with Everton remains uncertain. His concerns are clear, but he has expressed the need for a cautious, strategic approach. The situation depends on the outcome of 777 Partners' current challenges and the timeline of their contractual obligations.
John Textor's ambitions and achievements show that he will continue to seek opportunities to expand his influence in football. Whether this will come to fruition with Everton or another Premier League club remains to be seen, but his calculated approach shows his determination to pursue his goals in the world of football. football.
