There remains a great deal of uncertainty around Everton’s potential takeover.
John Textor is making progress in his bid to buy Everton, however, there remains work to be done and now it seems there’s a snag that surfaced.
Alan Nixon, via his Patreon, has just shared the latest update on the takeover as Textor considers installing an investment partner.
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John Textor may have to install investment partner to buy Everton
According to Alan Nixon, Textor’s takeover of Everton has now hit an obstacle.
The American businessman is in the process of selling his 45 per cent stake in Crystal Palace, which is proving to be a difficult task.
Textor, who hopes to agree the takeover by the end of November, is well apart in the valuation of his share in Palace with Josh Harris and David Blitzer.
The 58-year-old wants to sell at a profit whereas the aforementioned pair are only interested in getting their money back.
So, with that said, Textor may now have to install an investment partner in order to fund the move in the period of exclusivity.
Nixon says that is a very ‘uphill task.’
John Textor accepts he needs to be quick
Speaking to Sky Sports earlier this month, Textor admitted that the longer the process takes, the more likely another buyer comes in.
“Let’s be frank, the failure of others has been the blessing that we get to walk in to – which means that anybody could outbid me at any time.
“I have a qualified period of exclusivity, but exclusives don’t matter if Farhad gets an offer tomorrow that is supremely better than mine.
“I wouldn’t force him to do a bad deal with me. The longer this takes, the greater the probability that there’s some other smart guy out there that wakes up and see this as a great deal, as it is.
“Right now, this seems to be our opportunity and we hope to close.”
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