'That's A Potential Issue' – Borson taken aback by Crystal Palace takeover update

Everton’s prospective owner John Textor has received “great news” after revealing two parties have submitted bids for his Crystal Palace shares.

That is the view of finance expert Stefan Borson, who exclusively told Football Insider he does find it “surprising” there has been so much interest in buying the American’s 45-per-cent stake at Selhurst Park.

Textor was granted a period of exclusivity on 15 August to buy Everton owner Farhad Moshiri’s 94.1-per-cent stake at Goodison Park.

But one complication is the 58-year-old’s stake in Palace, with Premier League rules forbidding ownership of two clubs in the same division.

In an interview with Sky Sports on 11 September, Textor revealed he has now received two bids for his shares in the south London club and a deal could be agreed in the next two weeks.

The American also admitted he is confident he can complete his takeover of Everton before the 30 November deadline set out in his exclusivity agreement.

Crystal Palace buyer will need to pass owners’ and directors’ test

But Borson revealed one potential issue is the buyer of his Palace stake will have to go through the Premier League’s owners’ and directors’ test before that sale can be confirmed.

He told Football Insider: “Textor says he’s two weeks away from doing a deal on Palace, so that’s quite a bold statement.

“We will know one way or another whether that’s true.

“He says he’s got multiple parties who are interested in acquiring that stake, which is surprising.

“But that’s great news if it’s true for him.

“If he did get to that point by the end of September, which is what he’s suggesting, the new owner presumably of those shares if it isn’t the other shareholders currently at Palace, those individuals will have to go through an owners’ and directors’ test themselves for the Palace stake.

“Now that’s a potential issue because we don’t know how long that will take, but let’s say that could be done quickly.

“I guess in parallel to that he would probably end up trying to go through the process that he’s got in place with Everton.”

In other news, Crystal Palace’s owners could bankroll new development.

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