Tribal Football

Textor faces £400M bill if Everton takeover successful

Textor faces £400M bill if Everton takeover successful
Textor faces £400M bill if Everton takeover successfulAction Plus
American businessman John Textor faces having to repay a £200 million loan to the Friedkin Group in relation to a bid for Everton.

Per i News, Friedkin Group’s talks to buy the club did include a loan from the investment group to the Toffees.

Advertisement
Advertisement

This money has helped ensure the Everton stadium project will go ahead as planned.

However, the issue is that the club owes this sum to Friedkin Group, while they also owe a similar amount to 777 Partners, the group that previously failed to buy the club.

If Textor does manage to get out of his stake in Crystal Palace and try to buy the Toffees, he would have to contend with nearly £400 million in loan repayments.

The terms of the Friedkin Group’s loan mean that if the club is bought, the loan must be repaid in full immediately.