Brighton & Hove Albion’s Jack Hinshelwood, right, and Everton’s Jack Harrison in action during the English Premier League soccer match between Everton and Brighton & Hove Albion at Goodison Park, Liverpool, England, Saturday Aug. 17, 2024. (Nick Potts/PA via AP)

American entrepreneur John Textor has announced his plan to divest his interest in Crystal Palace in order to acquire fellow Premier League team Everton.

At 58 years old, Textor, who specializes in digital media and entertainment, holds a 45% ownership stake in Palace, the largest among four shareholders.

He has been in discussions with Everton's owner, Farhad Moshiri, regarding a potential takeover. Due to Premier League regulations, he must sell his shares in Palace before he can proceed with the purchase of Everton.

In a statement released late Thursday, Textor acknowledged his unsuccessful bid for majority control at Selhurst Park and mentioned that he has been "evaluating alternatives," specifically the acquisition of Everton.

"Before we made the decision to part ways with one family and join another, we endeavored to maintain our connection with the Crystal Palace club and community," Textor stated.

His company, Eagle Football, is the latest entity to be granted exclusive negotiation rights for Everton, following unsuccessful discussions with 777 Partners and the Friedkin Group. Additionally, Textor owns clubs in Belgium (RWD Molenbeek), Brazil (Botafogo), and France (Lyon) as part of his increasingly popular multi-club ownership strategy in soccer.