John Textor to open door for Everton fans to buy club shares
American businessman John Textor is preparing to float his Eagle Football Group on the New York Stock Exchange, a move that could impact Everton. Eagle Football Group currently includes Lyon, Botafogo and Belgian side RWD Molenbeek. Most notably, it includes a 45% share in Crystal Palace. Textor is working to float this entity on the New York Stock Exchange, meaning he is making it publicly available to purchase shares.
In the immediate sense, this means that Crystal Palace will soon be publicly available on the New York Stock Exchange. However, Textor is actively seeking a buyer for his stake in Crystal Palace. This can eventually fund a move to buy Everton. Textor is in an exclusive negotiation phase with current Everton owner Farhad Moshiri in a deal that could be worth $785 million.
Notably, floating the Eagle Football Group on the New York Stock Exchange is not a way to raise funds to buy Everton. Textor must overcome several hurdles for that to happen, but finances do not seem to be one. According to The Guardian, Textor is using his money in combination with several unknown investors. His money includes any sale of Crystal Palace. He must sell his 45% stake in Palace because no owner can own a stake in multiple Premier League clubs. That said, having full ownership of Everton is something he wants to do to bolster Eagle Football Group.
Assuming his eventual purchase of the Toffees goes through, he would add the side to Eagle Football Group. That makes it remarkably more valuable in terms of stock on the NYSE. Yet, he still wants to use the float of Eagle Football Group to aid Lyon. Textor is seeking roughly $525 million to benefit the Lyon debts of $425 million.
Everton shares would be rare, but not first time, for Premier League side
Everton being listed on the stock exchange would be subject to approval from the club’s board. Assuming that were to happen, and Everton were to get a cash infusion, it would be welcome finances for Everton. Premier League clubs, and soccer teams in general, rarely float on public stock exchanges. However, there are currently three Premier League clubs that fit this mold. That includes Manchester United and Tottenham Hotspur on the New York Stock Exchange. Additionally, shares for Arsenal are available for purchase on the ISDX market.
Again, the only way this happens is if Textor can sell his stake in Crystal Palace. The American revealed his intention to move on from the Selhurst Park side back in February. However, there has been a lack of interest from buyers in that 45% share in Palace. Once that goes through, Everton can move on. Textor is ready to pay off all existing Everton debts. Plus, he will provide $65 million as an exit fee to move on from the club. That would be a welcome sight for Everton fans who have awaited an ownership change for several years. Time will tell if Textor is the one to finally end Everton’s suffering and angst towards its ownership.
PHOTOS: IMAGO