Textor Confirms Intention To Sell Stake In Palace So He Can Buy Fellow Premier League Club Everton

American businessman John Textor has confirmed his intention to sell his stake in Crystal Palace so that he can buy fellow Premier League club Everton.

Textor, a 58-year-old digital media and entertainment entrepreneur, owns a 45% shareholding in Palace — the largest stake of four different shareholders — but has been in talks with Everton owner Farhad Moshiri about taking over the club.

He cannot have a stake in two Premier League clubs at the same time, so would have to sell his Palace shares before purchasing Everton.

Textor said in a statement published late Thursday he failed in an attempt to take majority control at Selhurst Park and has been “evaluating alternatives” — namely buying Everton.

“Before we decided to leave one family, to join another, we did try to do everything possible to stay connected with the club and community of Crystal Palace,” Textor said.

Textor's Eagle Football company is the third party to be granted a period of exclusivity about taking over Everton, after the club’s previous talks with 777 Partners and the Friedkin Group fell through.

Textor also owns teams in Belgium ( RWD Molenbeek ), Brazil (Botafogo) and France (Lyon) as part of his multi-club model that is becoming more common in soccer.