Former Everton chief executive Keith Wyness has had his say on John Textor's potential takeover of his old club.
And Wyness, who was Everton’s chief executive from 2004-09 and now runs a football consultancy advising elite clubs, said on the new edition of Football Insider’s Inside Track podcast: "It’s been trailed heavily in the media, and Textor has gone public himself about Everton. There is one complication, and that is his Crystal Palace shares. Unless he’s already done work behind the scenes and has a buyer ready to go, I don’t see how he can move quickly.
“It may not be a quick deal, but I think there are negotiations going on behind the scenes which could see him takeover once he sells the Palace shares. It could be an elegant solution for all parties, but it’s a case of timing.” In March, the Premier League granted conditional approval to 777 to take over the Blues, provided that four caveats were met. Those were: that 777 Partners loans to the club have to be converted into equity; funds are required in an escrow account to meet financial obligations for the remainder of the season; proof of funding for the new stadium completion; and a £158million loan to be repaid to MSP, the New York firm that had loaned Everton money last year for the stadium build.
Dave Powell, the Liverpool ECHO's business of football reporter, wrote yesterday: "It is hardly a staggering development that 777 Partners won’t be meeting Moshiri’s deadline, but the focus now turns to what happens next and how the club meets its short to medium-term working capital requirements. "Whether or not Moshiri provides anymore financing remains to be seen, but having lost some £700m-plus, he is facing the prospect of having to walk away with nothing from a sale given the current state of play, as well as a portion of his wealth tied up in his stake in Russian firm - and former Everton sponsor - USM. Moshiri removed himself from the USM board following Russia’s invasion of Ukraine.