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Post by rugbytoffee on Sept 9, 2024 10:24:24 GMT
John Textor is ‘confident’ of completing Everton takeover John Textor’s attempts to buy Everton have been lengthy, and yet seemingly no progress seems to be made.
However, his job has been made far more difficult by the two botched takeovers that came before him, with 777 Partners doing the most damage first before Dan Friedkin then weighted in with a loan of his own. And yet, despite these outstanding issues which must be overcome to assume control, the American in question remains committed to the cause.
In fact, insiders at the club have even detailed how the 58-year-old is feeling about his chances, as Goodison News reports: ‘Goodison News has been told by a source close to the takeover process at Everton that Textor is confident of being able to complete a deal with Moshiri and once he does, he wants to take the club to another level by investing in the playing squad.’
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Post by Avinalaff on Sept 9, 2024 17:02:46 GMT
How can he spend on the squad?
What ever obstacles are in the way won't disappear through change of ownership will they?
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Post by rugbytoffee on Sept 10, 2024 14:49:11 GMT
John Textor is considering giving Everton fans the chance to buy shares in the club if he succeeds in his £600m bid to take control from Farhad Moshiri. The American businessman is preparing to float on the New York Stock Exchange his holding company Eagle Football Group, which owns Lyon, Botafogo in Brazil and the Belgian club RWD Molenbeek and has a 45% stake in Crystal Palace, and sources close to Textor have told the Guardian that Everton could be taken public at a later date. Textor is understood to be confident that an agreement with Moshiri over buying Everton can be reached within four weeks after he was granted exclusive negotiating rights last month. The 58-year-old has yet to sell his Palace stake, however, so approval from the Premier League could take far longer to secure. Textor is planning to use his money and that of several unknown partners to fund the Everton purchase before absorbing the club into Eagle Football. Everton could then be listed on the stock exchange in a move which would require approval from the club’s board. Although a public flotation is rare for Premier League clubs, Manchester United and Tottenhem are listed on the New York Stock Exchange, and Arsenal shares are available to buy on the ISDX market. The Eagle Football initial public offering (IPO) is due this month, with Textor seeking about £400m in funding. Lyon have debts of £325m which Textor refinanced last year. A source with knowledge of the process said Textor had been preparing to float for some time, and that the addition of a Premier League club to the group would make Eagle shares far more attractive to potential investors. Textor’s bid for Everton is complicated by the boardroom standoff at Palace because he has been unable to offload his shares despite marketing through the Raine Group since February. Negotiations with his fellow shareholders Josh Harris and David Blitzer have yet to produce an agreement, and Textor’s offer to buy them out last month was also rejected. Textor is the fifth bidder to enter into an exclusivity agreement with Moshiri after the Kaminski Group, MSP Capital, 777 Partners and the Friedkin Group, with the previous proposals collapsing. Textor has agreed to cover Everton’s £600m-plus debts and to pay Moshiri an exit fee of which could reach £50m over the next five years, depending on the club’s football and financial performance. Textor declined to comment. uk.sports.yahoo.com/
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Post by rugbytoffee on Sept 10, 2024 19:06:09 GMT
Any potential Everton takeover could be hampered by Alisher Usmanov having taken legal action against his former business partner Farhad Moshiri, claims a report. Wantaway majority shareholder Moshiri is in talks with John Textor over selling his entire 94.1% stake in the Blues.
But the Missouri-born digital media and entertainment mogul, nicknamed Hollywood’s Virtual Reality Guru, would in turn have to sell his 45% stake in Crystal Palace before acquiring Everton.
The 58-year-old, who also owns clubs in France (Olympique Lyonnais), Belgium (RWD Molenbeek) and Brazil (Botafogo), is the fifth prospective buyer of Everton since 2022 after periods of exclusivity with the Kaminski Group, MSP Capital, 777 Partners and the Friedkin Group all failed to strike a deal.
A report from The Athletic claims Usmanov has taken legal action against a company owned by Moshiri, creating a complicating factor in the club’s already difficult takeover process.
The article states: “Documents filed at Moscow’s Arbitration Court in September 2023, and seen by The Athletic, list Somelior Holdings Limited, a Cypriot-registered company owned wholly by Moshiri, as one of six defendants in a case brought by Usmanov and USM Holdings. Somelior Holdings previously held a 10 per cent stake in USM, which had gone down to five per cent prior to the sanctions.
“According to the documents, Judge A.N. Petrukhina approved a motion to hold the hearing behind closed doors owing to ‘the presence of trade secrets in the documents to be examined,’ which had ‘been established by the court.’
“Over the course of the Everton sale process, it is understood that multiple Everton bidders have become aware of the existence of this case. One concern for bidders, which at least one group has discussed, is whether any payment to Moshiri is at risk of breaking sanction laws if the purchase money is used to pay damages to Usmanov — though one source close to Moshiri with knowledge of the case insists that UK laws and regulations would prevent him from paying damages.
“This legal case being held behind closed doors, as well as the opacity of the judicial system in Russia, means it is difficult for prospective owners to know whether any resolution in the case had been reached.
“The Athletic approached both representatives for Moshiri and Usmanov for comment. No response was received from Usmanov. A spokesperson for Moshiri declined to formally comment, but said that the court action was complete.”
When contacted by the ECHO, an Everton insider said: “This matter is very much between the parties involved and nothing to do with the club.”
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Post by evertonfan1968 on Sept 12, 2024 8:52:10 GMT
Moshiri doesn't seem to care who buys us.
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