February 28, 2024

CONSIDERING HIS OPTIONS: JOHN TEXTOR HOLDS A 45 PER CENT STAKE IN CRYSTAL PALACE

American businessman previously stated that he would not remain a “passive investor” for the long-term

John Textor is exploring the option of selling his 45 per cent stake in Crystal Palace.

The American businessman is the chairman of Eagle Football Holdings, which also owns majority stakes in Brazilian side Botafogo, French club Lyon and RWD Molenbeek of Belgium.

Textor, 58, is understood to prefer a majority stake in Crystal Palace or none, yet it is understood that there are no more shares available in the south London club.

Textor purchased a 40 per cent stake in Palace in August 2021. He preferred a majority stake but opted to save capital for his attempted purchase of Portuguese club Benfica.

When that fell through, Textor upped his stake in Palace to 45 per cent, but he told The Athletic in July that he would not remain a “passive investor” in the long-term.

It has been reported that, if Textor did opt to sell, most potential buyers would want majority control of Palace.

That would likely mean buying chairman Steve Parish’s 10 per cent stake, due to the four board members all having 25 per cent vote shares on key club decisions regardless of their financial stake.

The cash injection from Textor’s 2021 purchase of shares helped to fund Palace’s new academy and reduce the club’s first-team wage bill. A bank is yet to be mandated to begin the process.

 

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