Probably not a good idea to start mentioning potential suitors, Billionaires can be a bit touchy about that until the ink has dried.
By mentioning they are involved in tech I expect some nosy journalist will be able to work out who they are.
-
Existing user of old message board?
Your username will have transferred over to this new message board, but your password will need to be reset. Visit our convert your account page, to transfer your old password over.
Textor buying Everton? / Bids to buy Palace outright
- Topic starter Guntrisoft
- Start date
By mentioning they are involved in tech I expect some nosy journalist will be able to work out who they are.
Sounds like his business model has many more flaws than he was willing to admit. Lyon £500m in debt and face expulsion from the top division if they cant balance the books by the end of the season.
Up to 6 players will need to be sacrificed.
All this could be very good news for the Palace owners who know he needs liquid funds to stay afloat and fast. I still think it will be Harris and Blitzer that aquire Textor's shares
Canterbury Palace
Member
- Location
- Whitstable
- Country
England
"Revealed: Crystal Palace bidders are funded by parties from the UAE and America - as Sportsbank look to buy John Textor's 45 per cent stake for £230m"
www.dailymail.co.uk
Revealed: How Crystal Palace's £230m bidders are being funded
Mail Sport exclusively revealed last month that Sportsbank are among the bidders for current co-owner John Textor's 45 percent share in the Selhurst Park club.
Interesting. Other parties also interested, unfortunately I doubt anything will happen in time for January. As H&B don’t appear to have formally bid, I wonder if they can see a potential sale of their shares at some point, to the new owners. Unless of course this is just the Textor PR machine in operation"Revealed: Crystal Palace bidders are funded by parties from the UAE and America - as Sportsbank look to buy John Textor's 45 per cent stake for £230m"
Revealed: How Crystal Palace's £230m bidders are being funded
Mail Sport exclusively revealed last month that Sportsbank are among the bidders for current co-owner John Textor's 45 percent share in the Selhurst Park club.
I tend to agree, It seems a bit too coincidental that the sale of Textor's shares in Palace are suddenly so popular a couple of days after his French club Lyon have been handed a relegation unless he cuts the 500m Euro debt they have by end of season.
The Cynic in me feels he is behind this talking up the demand in his Palace shares
dreamwaverider
Member
- Location
- London
- Country
-
England
For a minority stake with 25% voting rights, the price being banded about is laughable. My guess is half of that is nearer the mark. But I bet whatever it goes for will be undisclosed.
I think they will wait until Textor begs them to buy them as he is in deep trouble.
I think that's misleading the way the Guardian have written it. My understanding is Textor paid an initial £90 million for 40% and then he increased that share to 45% with a further investment in 2022.
Crystal Palace co-owner John Textor makes new bid to buy Everton
The American billionaire John Textor has made a bid to become the majority owner of Everton, which could end the saga around the sale of the clubwww.theguardian.com
I think there is some confusion here and ultimately we probably will never know exactly what he paid.
The initial investment was £87.5m was supposedly to buy a stake similar to Parish - reported by the Guardian as 18% but now regularly quoted as 40%. He then invested a further £30m to increase his stake to 45% - so he paid £30m for a 5% increase.
When the other Americans bought in i believe they paid c£50m each for c18% each - valuing Palace at £278m. 5 or so years later Textor buys a stake for £87.5m. If this was 18% this would value Palace at £486m. If it was 40% it values Palace at £218m. Seems strange that Palace would have lost value during this period.
Palace are supposedly valued (by Textor!) at c£500m.
So this would support the 18% initial purchase price. Also, it would appear strange to buy 40% for £87m and then add an extra 5% for £30m.
IMHO there was an additional purchase after his initial one and before the £30m covid support one that was never made public to move his holding form c18% to 40%. I suspect he has paid c£200m in total and not the £117m that is widely reported
dreamwaverider
Member
- Location
- London
- Country
-
England
Very good point.
Another reason I believe we will either see Textor dumping his stock to H&B in January, or someone like Tang will pitch up and buy out all the Americans, leaving himself as major shareholder and Parish with a small percentage as managing director.
Can't see the club selling value exceeding £200m (plus any cash in bank and director loans) whoever ends up with it.
doombear
Member
- Location
- Too far from Selhurst Park
- Country
-
England
£230m seems a lot of money to buy Textor's stake and still only have 25% voting rights or are there other things happening we don't yet know about?
I have always said if we need/ would like new buyers, the voting rights would probably have to change. We shall see but sounds good news imo 🤞
Buying with other peoples money is good business sense, but what security are they putting up to secure the loan?
ASCPFC
Member
- Location
- Pro-Cathedral/caravan park
- Country
Ireland
Everton
Eagleman13
Member
- Location
- On The Road To Hell & Alicante
- Country
Bermuda
How would the voting rights be changed? Atm we have 4 people who own us, they all get a vote each(1/4 or 25%), nothing unusual or wrong with that. IMHO I just can't see how it can be different. Let alone the fact you'd have to get the other 3 to agree to it, can't see that happening.
doombear
Member
- Location
- Too far from Selhurst Park
- Country
-
England
Apparently being funded by Abu Dhabi and one or more American backers. The Sportsbank frontmen are purportedly Palace fans. Time will tell.
ASCPFC
Member
- Location
- Pro-Cathedral/caravan park
- Country
-
Ireland
Obviously note "February".