JOHN TEXTOR has asked the Premier League for a grace period to save Everton while still co-owning Crystal Palace.
The US billionaire is the leading candidate to rescue the Toffees after 777 Partners’ takeover at Goodison Park collapsed yesterday.
Textor, 58, has met with football chiefs to request a time extension to offload his 45 per cent share of Palace before throwing Everton a financial lifeline.
Palace are one of four clubs businessman Textor owns with Eagle Football, alongside majority stakes in French side Lyon, Brazilian first division club Botafogo and Belgians RWD Molenbeek.
Textor has met Toffees supremo Farhad Moshiri, who could lose a staggering £600million, and leading debtors Andy Bell and George Downing, the two fans who have sunk millions into their new stadium.
A deal between the parties can be done, with Bell and Downing likely to keep the Bramley Moore HQ.
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Speed is key for Everton and Moshiri, who is now assessing all options following the end of the interest from the debunked Miami-based 777 Partners.
As the Merseysiders try to find a new owner, the threat of administration — and a nine–point penalty — will only grow.
One of Moshiri’s options will be to walk away from his 94.1 per cent majority stake having invested a quarter of his £2.4billion personal fortune.
He spent that £600m when he bought Everton in 2016 as well as providing shareholders loans.
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But the Toffees also owe another £600m to a collection of creditors.
SunSport revealed last week Everton’s finances are in such a critical state that top stars will have to be sold once the transfer window opens.
777 Partners’ proposed takeover was worth £500m.
They had already pumped in £200m to keep the club afloat.
But Prem chiefs refused to ratify the takeover agreement amid worries the Miami-based company lacked the cash to meet its obligations after US insurance giant A-Cap cut ties with them.
777 Partners were then hit with legal actions in the US and Europe.
Source: Soccer - thesun.co.uk
