With 777 Partners’ attempt to take over Everton seemingly doomed, Farhad Moshiri will now turn his attention to other more credible options.
Two more parties are definitely in the mix: New York-headquartered investment company MSP Sports Capital and Crystal Palace co-owner John Textor.
MSP have the option to take full control of Everton as part of a pre-existing financing agreement with the club. And with Everton desperate for working capital, this could be critical.
Now, with the news that Textor wants to sell his stake in Palace in order to satisfy the Premier League‘s regulations on dual ownership and fund an Everton takeover, a bridging solution could be in the offing.
David Blitzer connection could pave way for John Textor takeover
Textor owns 40 per cent of Palace, while American multi-sport investor David Blitzer owns a 10 per cent stake.
As it happens, Blitzer is also involved with MSP Sports Capital. The group’s chairman and CEO are Jahm Najafi and Jeff Moorad, who also sit on the board of Bolt Football Holdings, the investment vehicle of Blitzer.
In theory then, Blitzer could use his relationship with Najafi and Moorad to push MSP to exercise their option to take full control of Everton.
This could act as a temporary bridging arrangement while Textor organises the finance and logistics of running the club.
This would relieve the pressure on Textor to sell his 10 per cent stake in Palace immediately and, as he has explicitly outlined his intentions to exit the club, would be in the interest of both parties.
When the Everton takeover will happen
Moshiri has given 777 Partners until 31 May to prove that they have funds to complete a deal and satisfy the Premier League’s criteria for owning a club.
But that is now a near impossibility amid the litany of financial and legal crises by which the group is beset.
The saga has been running for well over a year now, but an MSP takeover would be far quicker and, as a more credible investment group, would be given the green light by the Premier League almost instantly.
How long it would take Textor to organise his own funds to then complete his own takeover of the club – if indeed events transpire like this – remains to be seen.
Either way, Everton will be hoping that either a temporary or permanent solution is found over the summer to bring them out of takeover purgatory.