Crystal Palace co-owner John Textor gazumped in bid to buy Everton – The Friedkin Group agree deal to buy Premier League side

Crystal Palace co-owner John Textor looks set to miss out on his bid to buy Premier League rivals Everton. 

It was announced on Monday that The Friedkin Group had agreed to buy the Toffees, two months after pulling out of talks to purchase Farhad Moshiri’s 94.1 per cent shareholding.

Textor initially invested £87.5million into Crystal Palace in 2021 to take control of 40 per cent of the club. He increased his shareholding by five per cent after investing a further £30m into the Eagles. 

The Lyon and Botafogo owner cannot own a second Premier League team and was always open to having his Everton big gazumped.

Textor confirmed in August that he had placed his Crystal Palace shares up for sale and had entered a period of exclusivity after talks with Moshiri.

A statement released by Everton said: “Blue Heaven Holdings and The Friedkin Group confirm that they have reached an agreement over the terms of the sale of Blue Heaven Holdings’ majority stake in Everton Football Club. 

“The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.”

A spokesperson for The Friedkin Group said: “We are pleased to have reached an agreement to become custodians of this iconic football club. We are focused on securing the necessary approvals to complete the transaction.

“We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.”