John Textor, the current majority shareholder of Crystal Palace, has recently expressed his interest in purchasing Everton. This development comes amidst growing uncertainties surrounding 777 Partners’ ability to complete their acquisition of the club from Farhad Moshiri. This article delves into the latest developments, insights into John Textor’s journey in football ownership, and his potential move to Everton.
Teztor’s net worth is estimated by netwealth.biz to be around £3.37 billion. Moshiri’s projected worth, according to the Sunday Times Rich List 2024, is £1.5 billion.
Motivation for Everton
John Textor’s interest in Everton is primarily driven by the ongoing complications faced by 777 Partners. Despite agreeing to purchase Moshiri’s 94.1% stake in Everton last September, the Miami-based firm has struggled to finalize the deal due to issues with Premier League ratification. Additionally, 777 Partners is embroiled in a $600 million fraud case, and their Australian airline Bonza has entered administration. This, coupled with the sale of Belgium’s Standard Liege, has created significant uncertainty.
Farhad Moshiri revealed to the Everton Fan Advisory Board that there has been interest from other potential buyers, including John Textor. Textor, who owns 45% of Crystal Palace through Eagle Football Holdings, sees an opportunity to extend his influence within the Premier League by acquiring Everton.
Palace Frustrations
John Textor’s frustration at Crystal Palace stems from his lack of decision-making power. Despite owning a significant share, Steve Parish retains the casting vote within the boardroom, limiting Textor’s influence. This dissatisfaction has driven Textor to explore opportunities with other Premier League clubs, with Everton emerging as a potential target.
Public Statements
In a candid interview with The Athletic, John Textor confirmed his discussions regarding an Everton takeover. He stated, “Yes [he has discussed Everton]. With the existing constituents – different groups, different lenders, different equity holders. I’ve asked them: ‘Is there a way to solve all this confusion and address everyone’s problems?’ I’m very open-minded to it but I don’t want to come into a situation where I’m not really welcome. I’m watching it but 777 still has a contract.”
Textor emphasized his cautious approach, indicating that while he is monitoring the situation, he is not rushing into a new acquisition. He acknowledged the complexity of owning multiple clubs in the same league and the necessity of a strategic transition if he were to exit Palace for Everton.
Building Wealth
John Textor’s financial background is rooted in technology and digital media. He is recognized globally for his pioneering work in disruptive technologies and digital distribution models. Textor is the former executive chairman of fuboTV, a streaming service that holds broadcasting rights to major sports leagues, including the Premier League and NFL.
Textor’s notable contributions to visual effects in Hollywood further established 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.
Diverse Investments
John Textor’s football portfolio is diverse. In August 2021, he acquired a 40% stake in Crystal Palace for £86 million, later increasing his share to 45% with an additional £30 million investment. Textor also owns a majority stake in Lyon, having initially purchased 40% and later increasing it to 77.5% in December 2022. The Lyon acquisition was reportedly worth around £730 million.
Additionally, Textor has interests in Brazilian club Botafogo and Belgian outfit RWD Molenbeek. His strategic investments in multiple clubs highlight his expansive vision for football ownership.
Financial Standing
Determining John Textor’s exact net worth is challenging, as it is not publicly disclosed. However, insights can be gleaned from his business dealings and associated partners. Eagle Football Holdings board member James Dinan, founder of York Capital Management, is reportedly worth £1.65 billion. Fellow director Alex Knaster had an estimated wealth of £1.3 billion in 2022.
Forbes’ Most Valuable Soccer Teams 2024 valued Crystal Palace at approximately £610 million. Based on this, Eagle Football Holdings’ share is worth around £274.5 million. Additionally, Bloomberg reported Textor’s football holdings were 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 interest is evident, but he has expressed the need for a careful, strategic approach. The situation hinges on the outcomes of 777 Partners’ current challenges and the timeline of their contractual obligations.
John Textor’s ambition and track record suggest he will continue to seek opportunities to expand his influence within football. Whether this will materialize with Everton or another Premier League club remains to be seen, but his calculated approach indicates a determined pursuit of his goals in the football world.